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Created By pr0t0n | Read the whole conversation
Well , looks like there was a `good crowd` there.
https://twitter.com/GreatlandGold/status/906059315840253953
HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!
Great article in Mining Journal :-)
This is what US$14 million-capitalised Greatland Gold (LN:GGP) says, and is what the company hopes comes out of its six-month agreement, starting in May, with Newmont Mining (US:NEM) that gives the latter first right of refusal on the purchase or JV option for the Ernest Giles (EG) gold project in Western Australia. It will also see Newmont employ its deep sensing geochemistry (DSG) technology on the tenement.
Greatland CEO Gervaise Heddle told Mining Journal the second part of the agreement is more important from the junior company’s perspective.
“Newmont appreciates that the future of gold discoveries in countries like Australia and Canada is all undercover, with not much gold sitting at the surface anymore. They’ve developed this technology to try and find gold systems undercover and we have, on average, about 180m of cover, so this technology is ideally suited to try and identify if there is gold there and how much.â€
Heddle said the main advantages of working with Newmont are the company’s global expertise and experience discovering new deposits. The fact it owns its own technology is another bonus.
“Hopefully they can narrow the process down quickly and, realistically, they can throw more money at it than we can and they are very enthused, that’s the attraction,†he said.
EG covers over 1,800 square kilometres of what Greatland calls an "unexplored greenstone belt" hosting multiple gold targets in the eastern Yilgarn region of Western Australia.
The company is hopeful of its tenement containing some attractive gold deposits, although exploration is still early stage. Greatland previously completed a 23 reverse circulation drilling programme in a widely spaced grid pattern through which it found mineralisation in 13 of the holes and tens of metres of anomalous gold peaking at 2 grams per tonne.
These results attracted Newmont, with Heddle saying EG has the potential to be a big mineral system.
“We know certain mineralisation and we know there is something going on, but their DSG will hopefully confirm that and maybe help outline where there are higher-grade zones or more anomalous parts to that big area,†he said.
Greatland hopes Newmont might like what it finds so much that it enters into JV discussions or potentially proposes to buy the project outright.
Even if neither come to fruition, Newmont has agreed to release the final results to Greatland for its own use going forward.
“Ideally, they’ll come with results that show a couple of prime targets, and hopefully they will want to drill them or start a JV with us. If they get good results, then I think it is likely that they will seek to acquire some economic stake in the project and move forward,†Heddle said.
“Our philosophy is to find projects that potentially have scale, so find large deposits that have a long mine life and are truly economic.â€
Not all of Greatlands’ focus is on GE. Also in Western Australia, the company is exploring the Paterson gold project in the Paterson province and the Panorama project in the Pilbara region.
Historical drilling at the Paterson project identified gold and copper mineralisation, which Greatland is hoping to build on.
Greatland executive director Callum Baxter said: “There is certainly gold in the system up to 15g/t and copper up to 2% and it’s effectively a skarn-type system. Building on that, the geochemical fingerprints suggest it’s an iron-oxide-copper-gold (IOCG) system of which there are some very large examples around the planet.â€
He added that the first drill hole that went into the prospect got over 100m of consistent mineralisation, with the second achieving over 50m.
Heddle said Greatland aims to demonstrate that Paterson is an IOCG district through modern geophysical techniques and drilling technology, as it could potentially be of high interest to a major.
“Some of these IOCG deposits are the biggest and most valuable deposits in the world. So, if we find just one of those there, it could be a company-changing event … it’s a very interesting story that’s only just unfolding now,†he said.
With Panorama, Greatland is looking to branch out into cobalt which, with the increased interest in electric vehicles, has recently been in the junior exploration spotlight.
The project is also expected to have some gold mineralisation due to the geology of the area being greenstone and granite of the Archean Pilbara Craton.
“We announced that it’s a cobalt play but, behind the scenes, we did think this is a multi-element play,†Heddle said, adding that this still needs to be proven.
Greatland was also attracted to Panorama due to the Pilbara’s good infrastructure, stemming from its established iron ore sector.
Baxter said: “We’ve got port facilities, roads, gas, electricity, mobile phone networks and it’s easy to scale up an operation once you’ve made a good discovery.
“In terms of cobalt supply, globally, most comes out of the DRC (Democratic Republic of Congo) and is probably unethical, so if you are able to find a good resource in a safe jurisdiction like Australia, with the infrastructure that is available in the Pilbara, you can scale up an operation very quickly.â€
The project is still at the very early stages, with Greatland only likely to start drilling towards the second half of 2018.
“From where we are now, which is effectively stream anomalies, we plan to move in and close up the stream sampling and carry out soil sampling which will hone us in on the major targets within the project area. From there, once we have soil targets identified, we’ll drill those to gauge the tenure of cobalt mineralisation within the faults,†Baxter said.
Work is expected to commence in the first week of October, with identification of drill targets by the end of December.
This might sound modest work in the burgeoning gold and cobalt exploration space, but Greatland has much larger long-term ambitions, according to Heddle.
“Our philosophy is to find projects that potentially have scale, so find large deposits that have a long mine life and are truly economic.â€
Tweeted By jlondon | Retweet
Interesting interview - well worth a look and listen, GH seems quite excited by the prospects for the future.
hxxps://www.sharesmagazine.co.uk/video/gervaise-heddle-ceo-of-greatland-gold-ggp-2
As usual substitute kiss kiss with tea for 2!
thanks proton the magic words 'gold' and cobalt in one article ,hopefully covering either bull or bear market.
September 2017 presentation @
http://greatlandgold.com/wp-content/uploads/2014/01/20170907-GGP-Proactive-Presentation.pdf
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