30 June 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Greatland Gold plc
("Greatland" or "the Company")
Greatland commences 2022 Exploration Programme at 100% owned Paterson projects
Drill programme to focus on new conductor targets identified
at Scallywag licence including Pearl, Swan and Swan East
Maiden exploration activities to commence at Rudall and Pascalle licences
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the commencement of the 2022 exploration programme at its 100% owned projects in the highly prospective Paterson province of Western Australia.
Highlights of 2022 Exploration Programme:
§ Exploration programme has commenced at Scallywag and leverages a rich source of geological information and understanding of the area to drill several promising new conductor targets
§ Drill programme designed to test ground Electro-Magnetic ("EM") conductors for Telfer style mineralisation at Pearl, Swan and Swan East targets
§ Ultra Fine Fraction soil sampling geochemistry results currently being integrated into regional geological interpretation and targeting framework
§ Ongoing review of ground EM geophysics data and 2020 airborne Electro-Magnetic survey to enhance targeting and identify further aerial anomalies for ground EM follow-up
§ Further analysis of the drilling results from 2021, 2020 and integration into ongoing basin-wide geophysical and geological modelling to drive further targeting
§ Heritage clearances completed and access and drill pad clearing underway ahead of drill programme commencing at Scallywag
Rudall and Pascalle:
§ Maiden exploration drill programme planned for identified targets at recently acquired Rudall and Pascalle licences
§ Heritage approvals completed at Pascalle and Rudall with access planning underway
§ Government grant to be used to co-fund exploration at Rudall licence located 20km southeast of the Havieron gold-copper resource
§ Licences sit in prime locations with Rudall situated 20km south-southeast of Havieron and Pascalle situated between Havieron and the Newcrest Mining Telfer gold mine
Shaun Day, Managing Director of Greatland Gold plc, commented: "We are excited to accelerate Greatland's exploration programme and commence on the ground activities at our 100% owned projects in the Paterson province of Western Australia, regarded as one of the world's most prospective frontiers for the discovery of multi-cycle, tier-one gold-copper deposits.
"The 2022 campaign at Scallywag follows encouraging exploration results reported last year, where four of seven holes intercepted gold mineralisation. The maiden drill programme at our newly acquired Pascalle and Rudall tenements is equally significant with Rudall considered to be prospective for Havieron and Telfer style gold-copper occurrences, while Pascalle sits directly between the two world class discoveries of Havieron and Telfer.
"We look forward to unlocking value by systematically progressing exploration through these Havieron and Telfer like priority targets to take advantage of our strong position in this prospective region."
In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc/
Greatland Gold PLC
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+44 (0)20 3709 4900
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/James Keeshan
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Berenberg (Joint Corporate Broker and Financial Adviser)
Matthew Armitt/Jennifer Lee/Detlir Elezi
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Canaccord Genuity (Joint Corporate Broker and Financial Adviser)
James Asensio/Patrick Dolaghan
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Hannam & Partners (Joint Corporate Broker and Financial Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield
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SI Capital Limited (Joint Broker)
Nick Emerson/Sam Lomanto
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+44 (0)14 8341 3500
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Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore
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Further Information on the 2022 Paterson Exploration Programme
Exploration drill hole SWD001, drilled in 2021 returned geochemically significant Au assays (reported in RNS dated 5 April 2022). Drilling did not adequately explain the source of the airborne electromagnetic anomaly. Ground EM surveying completed in 2021 helped to define constrained conductor targets in the Swan area. Drill testing of these ground EM conductor plates to the east and west of Swan will commence this season with two holes planned.
Similar ground EM conductor plates were identified in the 2021 survey at Pearl (A32), reported in RNS dated 5 April. Additional ground EM is currently underway to further refine the target conductors, and drilling is scheduled to commence shortly. At least two Reverse Circulation ("RC") and Diamond Drill ("DD") holes are planned and will be drilled in the coming weeks.
Conductors were also identified at A34 and A35, further to the east of Swan, in similar geological settings. A short ground EM follow up survey has just been completed at A35 and the results are being integrated into the modelling to refine drill targets. Up to 4 RC/DD holes are planned on these targets.
In addition to drill testing the ground EM targets, geophysical modelling and data processing of the ground and aerial EM, gravity and magnetic datasets is continually underway, looking to identify further drill targets. Surface soil sampling across existing tracks over the Ground EM target areas was recently completed, to test effectiveness of it as abroad screening method over potentially mineralised bedrock, as found at SWD001. Analysis of the results is underway.
The Rudall licence covers an area of approximately 65 square kilometres approximately 20km south-southeast of Greatland's Havieron gold-copper resource. The licence is considered to be prospective for Havieron and Telfer style gold/copper occurrences.
Greatland has completed geophysical modelling to enhance preliminary targets identified at the Rudall licence, including the Ramses magnetic anomaly. The modelling suggests the depth to top of the magnetic anomaly is approximately 700m below surface.
Further geophysical survey work is planned this year to refine the Ramses anomaly and improve targeting utilising the Exploration Incentive Scheme ("EIS") Government grant to co-fund the exploration drill program.
The Pascalle tenement (E45/5316) covers a 75km2 area located in the heart of the Paterson Province approximately equidistant between the world class Havieron gold-copper deposit and Newcrest Mining's Telfer Gold Mine.
The Pascalle tenement remains underexplored as bedrock sits beneath 20-50m of cover limiting the application of traditional surface exploration methods. The area has a number of key geological similarities with other major discoveries in the region including a heat source (O'Callaghan's Granite) to generate circulation of metal rich fluids, hydrothermal pathways along basement faults and both structural and stratigraphic traps to concentrate mineral deposition. Review of historical data, target generation and exploration work program planning is underway.
Juri JV (Black Hills and Paterson Range East Tenements)
RC drilling has commenced on the Juri JV project at the A27 Black Hills North target, identified from previous gravity, magnetics and IP data modelling, and further delineated by 2021 ground EM surveying (RNS dated 31 May 2022). A diamond drill rig is planned to arrive in the next few weeks to continue the program at the Paterson Range East tenement targets Tama and A9.
In addition to drill testing the ground EM targets, geophysical modelling and data processing of the ground and aerial EM, gravity and magnetic datasets is continually underway, looking to identify further drill targets. Surface soil sampling across existing tracks over the JV tenement areas was recently completed, to test effectiveness of it as abroad screening method over potentially mineralised bedrock, as found at BHD003 (2021 program, RNS dated 23 Dec 2021). Analysis of the results is underway.
Information in this announcement that relates to historical exploration results has been extracted from the following announcements:
"Second year exploration programme at Juri JV" dated 31 May 2022
"Results from 2021 Exploration Programme Scallywag" dated 5 April 2022
"Final Results of Exploration programme at Juri JV" dated 23 December 2021
"Drilling Commences at 100% owned Scallywag Licence" dated 24 August 2021
"Scallywag Drill Results" dated 19 April 2021
"Initial Scallywag Results, New Targets Identified" dated 20 January 2021
"Greatland commences drilling at Scallywag prospect" dated 19 August 2020
"New Drill Targets at Scallywag" dated 30 October 2019
"Greatland Advances Exploration at Scallywag" dated 15 August 2019
"Paterson Project - Scallywag Target's MMI Results" dated 23 October 2018
Information in this announcement has been reviewed and approved by Mr Damien Stephens, a Member of the Australian Institute of Mining and Metallurgy (AUSIMM), who has more than 25 years relevant industry experience. Mr Stephens, an employee of the Company, has sufficient experience relevant to the style of mineralisation, type of deposit under consideration, and to the activity which he is undertaking 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, which outline standards of disclosure for mineral projects. Mr Stephens consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr Stephens confirms that the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that the form and context in which the information has been presented has not been materially modified.
Additional information on the project can be found on the Company's website at https://greatlandgold.com/projects/scallywag/ , https://greatlandgold.com/projects/rudall-and-canning/
In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a mining development and exploration company with a focus on precious and base metals. The Company's flagship asset is the world-class Havieron gold-copper deposit in the Paterson region of Western Australia, discovered by Greatland and presently under development in Joint Venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer gold mine and, subject to positive decision to mine, will leverage the existing infrastructure and processing plant to significantly reduce the project's capital expenditure and carbon impact for a low-cost pathway to development. An extensive growth drilling programme is presently underway at Havieron with a maiden Pre-Feasibility Study released on the South-East crescent on 12 October 2021. Construction of the box cut and decline to develop the Havieron deposit commenced in February 2021.
Greatland has a proven track record of discovery and exploration success. It is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. The Company is focused on safe, low-risk jurisdictions and is strategically positioned in the highly prospective Paterson region. Greatland has a total six projects across Australia with a focus on becoming a multi-commodity mining company of significant scale.