29 June 2017
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Extensive Gravity Survey Highlights Additional Targets at Ernest Giles Project
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce that initial results from an extensive ground gravity survey at its Ernest Giles project have successfully highlighted additional targets for gold exploration throughout the project area.
Highlights
· A comprehensive ground gravity survey across a significant portion of the Ernest Giles gold project has highlighted several additional targets conducive to gold mineralisation;
· A total of approximately 1,800 stations were used to collect over 360 line kilometres of gravity data across the Empress, Wishbone and greater Meadows area;
· Good resolution images from the gravity survey were generated and are being systematically reviewed in conjunction with the detailed airborne magnetic data that was recently acquired (see announcement dated 22 May 2017);
· Greatland anticipates that it will follow up this work with an initial broad-spaced gravity survey across the new Ernest Giles East licences (see announcement dated 9 May 2017), and in-fill gravity work on selected high priority targets in the second half of the year.
The Ernest Giles gold project is located in central Western Australia and covers an area of more than 1,800 square kilometres. The completion of the gravity survey follows on from recent significant developments at the project including the identification of two large zones of gold mineralisation (announced 12 and 19 January 2017), and an agreement with Newmont Exploration Pty Ltd, a subsidiary of Newmont Mining plc (NYSE:NEM), one of the world's largest gold producers (announced 16 May 2017).
Gervaise Heddle, Chief Executive Officer, commented: "The data collected from this extensive gravity survey further highlights the potential of the Ernest Giles project to host several, very large, mineralised systems. This data, in conjunction with the recently acquired airborne magnetic data, previous soil sampling data and the data from the successful drilling campaign in late 2016, has outlined several additional gold targets in this new gold province where Greatland holds a dominant landholding and we believe this data set will prove to be an excellent tool for guiding future drill campaigns."
Overview of Ernest Giles Project
The Ernest Giles project is located in central Western Australia, covering an area of more than 1,800 square kilometres that includes over 200km of strike of gold and nickel prospective rocks. The area is covered by desert sands and sediments, making it virtually unexplored. The region is home to several successful exploration discoveries such as Tropicana (AngloGold ASX:AGG), which contains over 7 million ounces, and Yamarna/Gruyere (Gold Road Resources ASX:GOR), with over 6 million ounces. The Company is targeting large +5m ounce deposits and clusters of several camp-type +1m ounce gold discoveries at Ernest Giles.
Earlier drill programmes by the Company at Ernest Giles intersected gold mineralisation and large alteration systems in wildcat drilling of blind structural targets defined by detailed airborne geophysics. This was considered a major achievement for such a large prospective area with virtually no historical work.
In late 2016, the Company completed a comprehensive broad spaced Reverse Circulation "RC" drilling programme at Meadows in the south-east of the project area which tested several large areas based on work completed by the Company and earlier work by Western Mining Corporation. This RC drill programme comprised 23 holes for 5,581m. Hole locations were based on a broad spaced grid pattern of 1,600m x 800m.
Mineralisation was observed in 13 of the 23 holes and several holes exhibited gold anomalous zones over tens of metres, peaking at 0.78g/t gold with mineralisation at end of hole. Two large zones of mineralisation were identified; Western 6km x 1.5km and Eastern 2km x 1.5km. Additional 1m sampling of several intercepts was undertaken to confirm preliminary results and better define mineralisation with many significant gold results returned up to 2g/t. Results confirmed mineralisation is present over a large area at Meadows and suggest that Greatland has discovered a new gold province in this largely unexplored region.
In late 2014, the Company completed a restricted programme of Mobile Metal Ion ("MMI") surface geochemistry over several target areas which were outlined from interpretation of detailed aeromagnetics. Sample spacing was at a nominal 800m x 200m. Results from this sampling were positive over the Meadows area (peaking at 68ppb gold), and at the Empress area. At Empress many samples returned +5ppb gold, which is quite high for MMI results, plus several above 40ppb gold peaking at 338ppb gold at the eastern extremity of three consecutive sample lines potentially outlining a significant anomaly 3km long by 1km wide which remains open to the east.
It should be noted that the Ernest Giles project area covers over 1,800 square kilometres and is host to a number of other high priority targets such as Wishbone (a high priority structural target), and Maple (a coincident MMI and structural target in the west of the project area).
The recent acquisition of additional ground sees Greatland dominating the landholding in the region. Over 800 square kilometres of additional acreage was acquired to cover extensions of known prospective sequences which are an integral addition to the project. Success from previous work over recent months has demonstrated the potential of the region to host very large mineralised systems and securing further ground is an important step for the overall development of the project.
A detailed airborne survey was recently acquired over the new areas, particularly over the northern sequences and the newly acquired Ernest Giles East which includes a 600 square kilometres area covering an 80km long north-south trending sequence of rocks that represents a continuation of the gold prospective greenstone sequence.
A comprehensive ground gravity survey has been completed at a station spacing of 1,600m x 200m. Gravity data was collected over the Empress, Wishbone and greater Meadows area. Total number of stations was approximately 1,800 for a total of 360 line kilometres of data. Good resolution images have been generated and the data is being reviewed in conjunction with the recently acquired high resolution airborne magnetic data. The ground gravity data has highlighted several additional targets conducive to gold mineralisation at each of the areas surveyed. Results of the gravity work is significantly instructive to justify additional data acquisition (in-fill gravity to 800m x 200m).
Greatland's successful efforts to date have highlighted the potential of the Ernest Giles project to host several, very large, mineralised systems.
During May 2017 Greatland entered into an agreement with Newmont Exploration Pty Ltd, a subsidiary of Newmont Mining Corporation (NYSE:NEM).
Additional information on the Ernest Giles 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
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
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Ana Ribeiro/Alexis Gore
Tel +44 (0)20 7618 9100
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 six main projects; four situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland or Greatland has the right to take 100% ownership.
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.
