15 August 2016
Greatland Gold plc
("Greatland" or "the Company")
Massive Sulphide Mineralisation Intersected at Bromus
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that massive sulphide mineralisation has been intersected in drilling at the Bromus project.
Highlights
· Greatland Gold is pleased to report that 3.5m of massive sulphide mineralisation has been intersected from 185m downhole in the third diamond hole at Bromus;
· Stringer and disseminated sulphide mineralization has also been intersected in the first two diamond holes;
· Laboratory analysis is underway to test the drill cores for nickel and other elements;
· Downhole EM will commence shortly to determine the size and orientation of buried mineralisation for follow up drilling should assay results suggest that further drilling is warranted;
· Drilling is continuing at the fourth and final hole and is expected to be completed this week.
Callum Baxter, Executive Director, commented: "We are pleased to have intersected sulphide mineralisation in all three diamond holes completed to date. Moreover, we are highly encouraged by the intersection of massive sulphides of significant width (3.5m) in the third hole. But we must stress that the nickel content cannot be determined until laboratory analysis is complete.
Drilling is continuing and we look forward to providing further information as activities progress."
Bromus Project, Western Australia
The Bromus project is located in southern Western Australia, approximately 25km south west of the town of Norseman, and covers approximately 93 square kilometres. Several significant clusters of gold and nickel sulphide deposits lie in the region, such as those at Central Norseman, Kambalda and Widgiemooltha. Greatland owns 100% of the project.
A review of detailed airborne geophysics defined a 4.5km long nickel sulphide prospective ultramafic, with coherent elevated surface geochemistry to 2,690ppm Ni, within the Bromus project area. Field work confirmed the presence of flow textured ultramafic lithologies and, despite the proximity to other deposits, no previous exploration for nickel sulphides is apparent. A fixed loop ground electromagnetic (EM) survey was completed over the entire 4.5km strike returning data of extremely high quality, with excellent ground penetration.
The ground EM survey data confirmed several significant bedrock conductors in the survey area. Modelling showed that the conductors are sizeable and well defined. Modelled depth to the top of the four targets is relatively shallow, between 130m and 175m below the surface.
Such large bodies of conductive material are typically signs of sulphide deposits. The tenor (or grade) of nickel in these deposits can only be determined by drilling and laboratory analysis.
Greatland is currently drilling these four conductors with an initial four diamond holes. A summary of geology and mineralisation from holes to date is presented below.
· Hole 1 intersected ultramafic and sedimentary lithologies throughout with a 6m intersection of highly sulphidic (+20% sulphides) and silicified shale from 188m downhole.
· Hole 2 interested basaltic and ultramafic lithologies throughout with a 15m intersection of stringer sulphides from 154m downhole.
· Hole 3 intersected basaltic and ultramafic lithologies throughout with a 3.5m intersection of massive sulphides from 185m downhole.
These intercepts show our geophysical modelling is robust and drilling is continuing with hole 4 to commence in the coming days.
Downhole EM surveys will be completed at each of the four holes to determine size and orientation of the buried conductive bodies.
Please note the nickel content of the sulphide intercepts cannot be determined until laboratory analysis is complete. Analysis is underway and we expect results to be available within approximately four weeks.
Additional information on the Bromus project can be found on the Company web site at www.greatlandgold.com/projects
Competent Person:
Information in this announcement that relates to exploration results is based on information compiled by Mr Callum Baxter, a director of Greatland Gold plc, who is a member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Mr Baxter has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr Baxter consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle/Alex Borrelli
Tel +44 (0)20 7747 9980
Email: [email protected]
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/ Sean Wyndham-Quin /James Keeshan
Tel +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Notes for Editors:
Greatland Gold plc is London listed (LON:GGP) natural resource exploration and development company with a current focus on gold and nickel exploration projects.
The Company has four main projects; two situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.
Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.
The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
