Source - RNS
RNS Number : 7070I
Greatland Gold PLC
21 June 2017
 

21 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")

 

Update on Havieron Project:  Outstanding Gold Drill Intercepts Reported by Antipa Minerals in Paterson Region

 

 

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, notes that Antipa Minerals (ASX:AZY) has reported positive high-grade gold results from its drilling campaign at its Minyari Dome Project, approximately 35 kilometres along strike from Greatland's Havieron project.

 

Highlights from Antipa Minerals announcement:

 

·     Antipa Minerals has today reported high grade gold results at its Minyari Dome WACA deposit located in the Paterson region of Western Australia, including 42.0m at 7.8g/t gold from 262m downhole (incl 13.0m at 22.1g/t gold and 1m at 222.0g/t gold), and 28.0m at 3.6 g/t gold from 13m downhole (incl 12.0m at 7.2g/t gold);

·     Antipa's drill results represent some of the most outstanding gold drill intersections reported in the Paterson region in recent times and, we believe, highlight the vast exploration potential of the Paterson region;and

·     Antipa's Minyari Dome Project is located approximately 35 kilometres north west of Greatland's Havieron project and is approximately 30 kilometres west of Greatland's Paterson Range East project.

Greatland recently more than doubled its potential landholding in the Paterson region and now holds a potentially significant strategic position of over 360 square kilometres in a region that is seeing increasing interest from major mining companies. Greatland's Havieron project is located approximately 40 kilometres east of Newcrest's Telfer gold mine which has produced over 27 million ounces of gold to date. Limited historical exploration by Newcrest in the late 1990s demonstrated high grade gold and copper mineralisation at Havieron with peak values of 15g/t Au and 2.5% Cu.

 

Gervaise Heddle, Chief Executive Officer, commented:  "The outstanding results reported today by Anitpa Minerals highlight the potential of this exciting gold/copper district. We believe that this announcement may significantly accelerate regional exploration efforts by the mining companies in the region, including Newcrest, Rio Tinto and Antipa."

 

Today's announcement by Antipa can be found here - http://www.antipaminerals.com.au/uploads/3/0/3/2/30323795/minyari_dome_2017_phase_1_first_assay_resuts.pdf

 

A map showing the Havieron and Paterson Range East licences with regional targets and adjacent landholdings can be found at http://greatlandgold.com/project/2016/havieron/

 

 

Overview of Havieron and Paterson Range East Project

 

The Havieron and Paterson Range East licences are located in the Paterson region of northern Western Australia. The Paterson region hosts several large gold and copper deposits such as Telfer (27M oz) and Nifty (2MT copper). 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 Paterson Province is the northern portion of the Proterozoic Paterson Orogen. More recent exploration throughout several Proterozoic Orogens within the western parts of the Australian continent have resulted in the discovery of the large Tropicana gold deposit (7.9M oz) and large Nova nickel-copper deposit (10MT). Globally these Proterozoic Orogens are highly prospective for large deposits, and are often under-explored.

 

Alteration and mineralisation of those targets which have been drill tested at Havieron and Paterson Range East display similarities to IOCG-type deposits. Examples of these are the large Olympic Dam and Ernest Henry deposits in central and eastern Australia.

 

Geophysical data has outlined the Havieron target as covering approximately 1,000m x 1,000m. Depth to top of target is around 400m with these depths easily achieved with modern drilling equipment. Only six drill holes have been completed to date with all intersecting significant alteration and gold plus copper anomalism.

 

Thick lower grade zones of gold and copper have been intersected and within these gold grades peak at 15.4g/t and copper to 2.5%. Current drill hole spacing is broad and so the core of Havieron represents an immediate resource definition drilling target.

 

Within the Paterson Range East licence several IOCG targets have been identified. Historically, several of these targets have been subject to initial first-pass work and show promise at hosting mineralisation as seen at Havieron. Basement rocks do not outcrop and Greatland intends to employ modern geophysical methods to define targets prior to drill testing.

 

Prospectivity of the Paterson Province is widely recognised with several large industry participants present. These include Rio Tinto,  Newcrest and Antipa. Greatland's licences lie adjacent to Rio Tinto and Antipa. Results announced by Antipa today highlight the exploration and development potential of the Paterson Region. Best results include 42.0m at 7.8g/t gold from 262m down hole, including 13.0m at 22.1g/t gold  and 1.0m at 222.0g/t gold. Plus 28.0m @ 3.6g/t gold form 13m downholes, including 12.0m at 7.2g/t gold. High grade mineralisation is from near surface and highlghts open pit potential and mineralisation remains open along strike to the north and south and at depth.

 

Greatland's Havieron licence covers 137 square kilometres and Paterson Range East covers 224 square kilometres, totalling over 360 square kilometres in the Paterson region

 

 

Additional information on the Havieron and Paterson Range East licences 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.

 


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