4 September 2018
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
High Grade Gold Detected in Multiple Rock Chip Samples from Black Hills
Greatland significantly extends strike of surface gold mineralisation at Saddle Reefs prospect from 200 metres to 800 metres
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce new rock chip results from its 100% owned Black Hills licence in the Paterson region of Western Australia.
In June 2018, Greatland commenced it first exploration campaign at Black Hills. Multiple gold nuggets were found in thin sand cover, establishing the presence of high grade gold mineralization at surface over a 200 metre strike length at the Saddle Reefs prospect (as announced 21 June and 2 July 2018).
In addition to collecting pieces of visible gold at surface, Greatland collected a further 28 rock chip samples over the Saddle Reefs prospect and several rock chip samples from the Rogers prospect. These additional rock chip samples did not contain any visible gold and were submitted for standard laboratory assay testing.
Highlights of Rock Chip Sample Results
Saddle Reefs
· A total of 28 rock chip samples were collected at Saddle Reefs and 11 of these samples returned gold values over 10g/t gold;
· High grade gold results include 81.7g/t, 45.7g/t, 37.6g/t, 33.9g/t, 28.2g/t, 23.5g/t, 19.6g/t, 17.5g/t, 14.1g/t, 13.0g/t and 12.4g/t;
· Many rock chip results returned high silver values (up to 106.1g/t silver);
· Importantly, these results roughly quadruple the strike length of gold mineralization identified at surface from 200 metres to approximately 800 metres.
Rogers
· Rock chip samples were also collected from the Rogers area (approximately 3.5km south east of Saddle Reefs)
· Several samples returned over 1g/t gold (up to 8.9g/t gold).
As announced on 17 July 2018, a comprehensive 3DIP program has been undertaken at the Saddle Reefs prospect at Black Hills. Data is currently being processed and the resultant detailed inversion models will be used to generate targets for drill testing.
Gervaise Heddle, Chief Executive Officer, commented: "We are delighted by these results which significantly extend the strike length of surface gold mineralisation at the Saddle Reefs prospect and further highlight the potential for Black Hills to host a large, high-grade gold deposit. Given these exciting results, we intend to quickly move forward with our exploration efforts at Black Hills and we look forward to receiving the results from the recent 3DIP survey which will be used to assist with planning Greatland's first drill campaign at Black Hills."
Overview of Paterson Project and Black Hills licence
The Company's Paterson project comprises the Havieron, Paterson Range East, and Black Hills licences, located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square kilometres prospective for iron-oxide-copper-gold ("IOCG") deposits and Telfer style gold deposits.
The Paterson region hosts several large gold and copper deposits such as Telfer and Nifty. The region has been subject to more recent exploration which has outlined several other deposits including Magnum (Au), Calibre (Au), O'Callaghans (Cu) and Maroochydore (Cu). The region is remote, however infrastructure is good with several operating mines, roads, formed tracks and rail networks nearby which branch out from the regional industrial hub of Port Hedland 500km to the west.
The Black Hills licence, E45/4512, lies 30 km east of the large Telfer gold mine. Black Hills is a granted exploration licence that covers 25 square kilometres and sits adjacent to the Company's Havieron exploration licence. The Black Hills licence is regarded as having high potential to host gold deposits similar to Telfer. There has been a reasonable amount of historical exploration work at Black Hills with several discrete zones of mineralisation identified over 5km of strike. Historical rock chip samples have returned up to 90g/t gold, and commonly 20g/t gold, with free (visible) gold in places. Drill intercepts include 3m at 9.14g/t gold from 26m downhole (incl. 1m at 21.2g/t from 27m (CBR073)), 1m at 10.0g/t gold from 16m (CBH138), 1m at 4.93g/t from 12m (CBH071) and 1m at 3.12g/t from 37m (NBH004). Historical RC drill spacing appears quite broad with holes at least 400m apart, some up to 600m.
Gold prospects identified to date extend from Black Hills into the north western parts of the Havieron licence. Proterozoic sandstone and carbonate rocks of the Yeneena Group formations are present, including the Telfer Formation, in a domal structure which is the equivalent geology to that of the large Telfer gold deposit located 30km to the west.
A large amount of historical surface exploration data for the Black Hills area has been compiled and merged into the Company's database. This is the first time all data has been merged and interrogated with modern technologies. Gold mineralisation has been outlined at several prospects throughout the licence including Saddle Reefs, Eastern, Rogers and Northern Granites (within an area of 6.5km x 2km).
Strong surface gold mineralisation is present at the Saddle Reefs prospect with historical rock chips including 55.6g/t, 20.0g/t, 19.65g/t, 18.45g/t and 17.0g/t over an area of approximately 1,400m x 800m. The zone has a north-westly trend and sporadic drilling with results including 3m at 9.14g/t gold from 26m downhole, including 1m at 21.2g/t from 27m, in hole CBR073. This zone is in the core of an anticlinal feature and, overall, is gold prospective over a strike length of approximately 3km.
At the Eastern prospect a linear zone of gold mineralised stratigraphy is apparent over a strike of approximately 4km. Historical surface rock chip results include 1.9g/t gold, 1.2g/t gold and 1.0g/t gold. Broad spaced drilling along the zone has returned results including 1m at 10.0g/t gold from 16m (CBH138), 1m a 4.93g/t from 12m (CBH071) and 1m at 3.12g/t from 37m (NBH004). The mineralisation appears to track along a structural contact and the focus will be on identifying the higher grade mineralisation along this trend.
The other prospects of Rogers and Northern Granites show prospective gold mineralisation at surface with historical rock chip results including 50.2g/t and 10.45g/t at Rogers and 6.9g/t at Northern Granites. Drill testing is limited but results have included 1m at 1.48g/t from 38m (NBH008) at Rogers and 1m at 2.35g/t gold from 5m (CBH253) at Northern Granites.
The Company recently commenced field work at Black Hills in June 2018 (see announcement dated 18 June 2018). Work has focused on the Saddle Reefs and Rogers areas collecting rock chip samples and locating historical access. The host sequence of Proterozoic sandstones and limestones outcrop through relatively thin sand cover. Numerous indications of mineralisation in bedrock are apparent. Gossanous samples have been collected from outcrop, visible gold recovered from rock chip samples, and gold nuggets were found in thin sand cover at Saddle Reefs (as announced 21 June and 2 July 2018).
At Saddle Reefs, the mineralised sequence outcrops through a thin veneer of sand and gravel. A total of 28 rock chip samples were collected over a strike length of approximately 800m, with 19 of these returning more than 1g/t gold, and multiple results over 10g/t gold. Gold results include 81.7g/t, 45.7g/t, 37.6g/t, 33.9g/t, 28.2g/t, 23.5g/t, 19.6g/t, 17.5g/t, 14.1g/t, 13.0g/t, 12.4g/t, 8.7g/t and 7.3g/t. Many also showed high silver including 106.1g/t, 89.0g/t, 38.2g/t, 28.2g/t, 20.4g/t, 14.9g/t, 14.6g/t, 13.88g/t, 13.0g/t, 12.8g/t, 11.3g/t 10.9g/t and 10.4g/t. Importantly, gold (and silver) mineralisation in bedrock has now been identified over a strike length of approximately 800m at Saddle Reefs.
Several rock chip samples were also collected from the Rogers area (approximately 3.5km south east of Saddle Reefs) returning over 1g/t gold. Maximum result was 8.9g/t gold. This area requires additional work to define the limits of mineralisation.
Rock chip samples with visible gold were collected from the Saddle Reefs area and these samples were reported previously (21 June and 21 July). It must be stressed that none of the rock chip samples reported in this announcement contained visible gold so as not to unduely bias the laboratory assay results. These samples were predominantly iron rich goassanous textured rocks with varying amounts of iron stained quartz.
As announced on 17 July 2018, a comprehensive 3DIP program has been undertaken at the Saddle Reefs prospect over approximately 1,600m of strike. Data is currently being processed and the resultant detailed subsurface models will be used in conjunction with surface geochemical and geological information to define drill targets.
The Company has received all required approvals from the Western Australian Department of Mines, Industry Regulation and Safety ('DMIRS') for a drilling programme at Black Hills. Further details regarding Greatland's first drilling programme at Black Hills will be provided after results from the 3DIP survey are received.
Additional information on the Black Hills licence can be found under 'Paterson' 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
Gervaise Heddle/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: [email protected]
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson/Alan Gunn
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 (AIM: GGP) is a London listed natural resource exploration and development company with a current focus on gold, nickel and cobalt 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.
