Greatland Gold PLC Continuity of Gold Mineralisation Extended (5919V)

TIDMGGP

RNS Number : 5919V

Greatland Gold PLC

31 January 2017

31 January 2017

Greatland Gold plc

("Greatland" or "the Company")

Warrentinna - Continuity of Gold Mineralisation Extended

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce initial results from the recent drilling campaign at the Warrentinna gold project in Tasmania, Australia.

Highlights

-- The recent drilling campaign at Warrentinna (see announcement dated 29(th) November 2016) has successfully extended the continuity of gold mineralisation at the Warrentinna project;

-- All holes encountered gold mineralisation with best 4m composite results including 4m at 2.8g/t Au from surface (WTR040) and 4m at 2.9g/t Au from 20m (WTR038);

-- These results highlight that mineralisation remains open to the north and east, with drill holes WTR38, WTR39 and WTR40 clearly extending the continuity of gold mineralisation to the north;

-- Greatland Gold's field operations team will collect 1m re-samples of several zones of interest during February, and the results of these re-samples are expected to be reported in late March.

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased with these latest results at Warrentinna that further demonstrate the potential of this valuable asset. These results highlight the potential for a near-surface open pitable resource to be established at Warrentinna over the medium term."

Callum Baxter, Chief Technical Officer, commented: "These latest 4m composite results significantly add to our knowledge regarding the trend of mineralisation and will greatly assist in future efforts to establish a resource at Warrentinna. Mineralisation at Warrentinna remains open to the north, east and at depth.

We look forward to receiving the results of the 1 metre re-sampling in the near future. A map of the drilling results will be published on the Company's website within the next fortnight."

Summary of Results, Warrentinna Project, Tasmania

The Warrentinna project is located in north-east Tasmania and covers an area of 37 square kilometres. The project hosts several known gold occurrences, including Derby North and Golden Mara where we have intersected significant levels of gold mineralisation, some over 50g/t.

During December 2016 the Company completed an RC drilling programme at the Warrentinna project (previously announced 29 November 2016). A total of six RC holes were drilled for 596m. Each hole was drilled to a nominal 100m depth (apart from one hole completed to a depth of 96m). All holes were angled at 60 degrees. Five holes were drilled at the Derby North prospect (WTR037-WTR041) and one hole was drilled under historic workings at the Golden Mara prospect (WTR042).

All holes were sampled as 4m composites from surface to end of hole and geologically logged. Results received to date are preliminary and relate to 4m composite results only. All holes returned over 4m at 0.5g/t gold apart from one hole (WTR041). Maximum result returned from Derby North was 4m at 2,878ppb Au, and maximum result from Golden Mara was 4m at 1,071ppb Au.

Overall, results from drilling at Derby North were positive in that continuity of mineralisation has been enhanced over the core of the prospect. Also drilling has highlighted that mineralisation remains open, particularly to the north and east. Intercepts from Derby North include 44m at 722ppb gold from 20m in hole WTR038 peaking at 4m 2878ppb gold from 20m and 4m at 1230ppb gold from 36m, and 72m at 262ppb gold from 24m in hole WTR039 peaking at 4m at 1254ppb gold from 56m, and 36m at 303ppb gold from 12m in hole WTR037 including 4m at 781ppb gold from 24m. In WTR040 mineralisation was observed from surface peaking at 4m at 2751ppb gold.

Results from drilling at Golden Mara (WTR042) were moderately encouraging and potentially significant when considered with previous results of adjacent hole WTR010 (drilled in 2008) peaking at 3m at 950ppb gold from 30m in a broad intercept of 36m of 300ppb gold from 0m.

Results of mineralised zones (WTR037-WTR042) are presented in Table 1.

1m re-sampling of several zones of interest will be carried out during February 2017 to better confirm results and better define the distribution of gold in mineralised intercepts. Results are expected to be returned from the laboratory during March 2017.

Additional information on the project can be found on the Company's 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 [phone]

Email: [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady/Sean Wyndham-Quin/James Keeshan

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel [phone]

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 five main projects; three 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.

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Table 1 - Warrentinna RC Drilling 4m Composite Sample Results (+100ppb gold)

 
  Hole     From   To (m)    Gold 
    ID      (m)             (ppb) 
--------  -----  -------  ------- 
 
 WTR037     12      16      156 
--------  -----  -------  ------- 
 WTR037     16      20      101 
--------  -----  -------  ------- 
 WTR037     20      24      133 
--------  -----  -------  ------- 
 WTR037     24      28      781 
--------  -----  -------  ------- 
 WTR037     28      32      615 
--------  -----  -------  ------- 
 WTR037     32      36      249 
--------  -----  -------  ------- 
 WTR037     36      40      297 
--------  -----  -------  ------- 
 WTR037     40      44      223 
--------  -----  -------  ------- 
 WTR037     44      48      172 
--------  -----  -------  ------- 
 
 WTR038     0       4       187 
--------  -----  -------  ------- 
 WTR038     4       8       118 
--------  -----  -------  ------- 
 WTR038     20      24      2878 
--------  -----  -------  ------- 
 WTR038     24      28      1002 
--------  -----  -------  ------- 
 WTR038     28      32      730 
--------  -----  -------  ------- 
 WTR038     32      36      256 
--------  -----  -------  ------- 
 WTR038     36      40      1230 
--------  -----  -------  ------- 
 WTR038     40      44      385 
--------  -----  -------  ------- 
 WTR038     44      48      736 
--------  -----  -------  ------- 
 WTR038     48      52      360 
--------  -----  -------  ------- 
 WTR038     52      56      171 
--------  -----  -------  ------- 
 WTR038     60      64      115 
--------  -----  -------  ------- 
 
 WTR039     24      28      750 
--------  -----  -------  ------- 
 WTR039     28      32      359 
--------  -----  -------  ------- 
 WTR039     32      36      218 
--------  -----  -------  ------- 
 WTR039     36      40      204 
--------  -----  -------  ------- 
 WTR039     40      44       74 
--------  -----  -------  ------- 
 WTR039     44      48      153 
--------  -----  -------  ------- 
 WTR039     52      56      474 
--------  -----  -------  ------- 
 WTR039     56      60      1254 
--------  -----  -------  ------- 
 WTR039     68      72      213 
--------  -----  -------  ------- 
 WTR039     76      80      182 
--------  -----  -------  ------- 
 WTR039     88      92      127 
--------  -----  -------  ------- 
 WTR039     92      96      416 
--------  -----  -------  ------- 
 
 WTR040     0       4       2751 
--------  -----  -------  ------- 
 WTR040     4       8       412 
--------  -----  -------  ------- 
 WTR040     8       12      137 
--------  -----  -------  ------- 
 WTR040     28      32      157 
--------  -----  -------  ------- 
 WTR040     32      36      202 
--------  -----  -------  ------- 
 WTR040     36      40      201 
--------  -----  -------  ------- 
 WTR040     44      48      285 
--------  -----  -------  ------- 
 WTR040     52      56      520 
--------  -----  -------  ------- 
 WTR040     56      60      110 
--------  -----  -------  ------- 
 
 WTR041     16      20      217 
--------  -----  -------  ------- 
 WTR041     24      28      122 
--------  -----  -------  ------- 
 WTR041     28      32      214 
--------  -----  -------  ------- 

 WTR041     32      36      198 
--------  -----  -------  ------- 
 WTR041     36      40      205 
--------  -----  -------  ------- 
 WTR041     40      44      185 
--------  -----  -------  ------- 
 
 WTR042     20      24      174 
--------  -----  -------  ------- 
 WTR042     68      72      285 
--------  -----  -------  ------- 
 WTR042     72      76      1071 
--------  -----  -------  ------- 
 WTR042     76      80      181 
--------  -----  -------  ------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 31, 2017 04:59 ET (09:59 GMT)