Greatland Gold PLC Further Drill Results Confirm Gold Mineralisation (6003U)

TIDMGGP

RNS Number : 6003U

Greatland Gold PLC

19 January 2017

19 January 2017

Greatland Gold plc

("Greatland" or "the Company")

Ernest Giles - Further Drill Results Confirm Gold Mineralisation

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that further analysis of samples from recent drilling confirms gold mineralisation at its Ernest Giles project in Western Australia.

Highlights

-- Higher grade results received from 1m re-sampling of recent RC drilling at Ernest Giles gold project in Western Australia (initial results from 4m composite samples reported on 12(th) January 2017);

-- Many significant gold results returned, up to 2g/t Au, including 2m at 1.51g/t and 1m at 1.54g/t, and anomalous silver was also noted in many samples;

-- Results confirm that gold mineralisation is present over a large area and suggest that Greatland has discovered a new gold province in this largely unexplored area;

-- Greatland will be issuing an updated presentation on the 1,000 square kilometre Ernest Giles project within the next two weeks, which will provide a detailed overview of the project, including the Meadows, Empress and Wishbone targets.

Callum Baxter, Executive Director, commented: 'We are very pleased to be able to report these results from our first systematic, wide-spaced drilling campaign at our 100% owned Ernest Giles gold project.

On 12(th) January 2017, Greatland reported that results from our recent ambitious drilling campaign at Ernest Giles had successfully identified two large zones of gold mineralisation, including a Western zone of 6km in length and 1.5km in width, and an Eastern zone of 2km in length and 1.5km in width. These results reported today provide support for the view that this large greenstone belt is highly prospective for gold and may contain similar multiple million ounce deposits as have been discovered in other large greenstone belts in Western Australia.

Greatland continues to explore several options to advance this exciting project. Significant results of the 1m sampling are presented in Table 1 at the end of this release.'

Summary of Results and Overview, Ernest Giles Project, Western Australia

The Ernest Giles project is located in central Western Australia, covering an area of 1,000 square kilometres that includes over 120km of strike of gold and nickel prospective rocks. The area is covered by desert sands and sediments, making it virtually unexplored. The region is home to several successful exploration discoveries such as Tropicana (AngloGold ASX:AGG), which contains over 7 million ounces, and Yamarna (Gold Road Resources ASX:GOR), with over 6 million ounces. The Company is targeting large +5m ounce deposits and clusters of several camp-type +1m ounce gold discoveries at Ernest Giles.

Earlier drill programmes by the Company at Ernest Giles intersected gold mineralisation and large alteration systems in wildcat drilling of blind structural targets defined by detailed airborne geophysics. This was considered a major achievement for such a large prospective area with virtually no historical work. To build on this the Company completed a comprehensive broad spaced RC drilling programme which tested several large areas based on work completed by the Company and earlier work by Western Mining Corporation.

The 2016 RC drill programme comprised 23 holes for 5,581m. Hole locations were based on a broad spaced grid pattern of 1,600m x 800m. Holes were designed to test basement lithologies for gold mineralisation and also test beneath surface geochemical anomalies.

Mineralisation was observed in 13 of the 23 holes. Initial 4m composite analysis of drill spoils shows gold anomalism between 5 and 95ppb in more than 10 holes peaking at 784ppb. Several holes exhibiting gold anomalous zones over tens of metres, for example ERC011 140-200m (60m) peaking at 0.78g/t gold with mineralisation at end of hole, and ERC014 224-278m (54m) peaking at 0.17g/t gold also with mineralisation at end of hole.

Additional 1m sampling of several zones of interest was undertaken to confirm preliminary results and better define mineralisation. Only holes ERC011, ERC013 and ERC014 were sampled with a total of 174 single metre samples collected. Many significant gold results were returned up to 2g/t, including 2m at 1.51g/t and 1m at 1.54g/t. Anomalous silver was also noted in many samples. Significant results of the 1m sampling are presented in Table 1. Results confirm mineralisation is present over a large area and suggest that Greatland has discovered a new gold province in this largely unexplored region.

The Company will continue with planning of additional drill hole locations and further surface geochemistry along with a review of previous work. It should be noted that the project area covers over 1,000 square kilometres and is host to a number of other high priority targets such as Empress and Wishbone, the former an unexplained +300ppb gold surface anomaly, and the latter an untested coincident geochemical and structural target.

Additional information on the Ernest Giles project 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 [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 - Ernest Giles 1m Sample Results (>14ppb gold)

 
  Hole     From   To (m)   Gold (ppb) 
    ID      (m) 
 
 ERC011    142     143         85 
          -----  -------  ----------- 
 ERC011    143     144         93 
          -----  -------  ----------- 
 ERC011    144     145        479 
          -----  -------  ----------- 
 ERC011    145     146        213 
          -----  -------  ----------- 
 ERC011    146     147         48 
          -----  -------  ----------- 
 ERC011    147     148         28 
          -----  -------  ----------- 
 
 ERC011    150     151         17 
          -----  -------  ----------- 
 
 ERC011    156     157         28 
          -----  -------  ----------- 
 ERC011    157     158         42 
          -----  -------  ----------- 
 ERC011    158     159         59 
          -----  -------  ----------- 
 ERC011    159     160        149 
          -----  -------  ----------- 
 ERC011    160     161         54 
          -----  -------  ----------- 
 ERC011    161     162        1542 
          -----  -------  ----------- 
 ERC011    162     163        439 
          -----  -------  ----------- 
 ERC011    163     164        732 
          -----  -------  ----------- 
 ERC011    164     165         76 
          -----  -------  ----------- 
 ERC011    165     166         23 
          -----  -------  ----------- 
 ERC011    166     167         41 
          -----  -------  ----------- 
 ERC011    167     168        132 
          -----  -------  ----------- 
 ERC011    168     169         21 
          -----  -------  ----------- 
 
 ERC011    177     178         74 
          -----  -------  ----------- 
 
 ERC011    181     182         37 
          -----  -------  ----------- 
 ERC011    182     183        447 
          -----  -------  ----------- 
 ERC011    183     184         17 
          -----  -------  ----------- 
 ERC011    184     185         22 
          -----  -------  ----------- 
 
 ERC011    186     187        207 
          -----  -------  ----------- 
 ERC011    187     188        329 
          -----  -------  ----------- 
 ERC011    188     189        400 
          -----  -------  ----------- 
 ERC011    189     190        821 
          -----  -------  ----------- 
 ERC011    190     191        1020 
          -----  -------  ----------- 
 ERC011    191     192        1995 
          -----  -------  ----------- 
 ERC011    192     193        137 
          -----  -------  ----------- 
 ERC011    193     194        118 
          -----  -------  ----------- 

 
 ERC011    196     197         15 
          -----  -------  ----------- 
 ERC011    197     198        132 
          -----  -------  ----------- 
 ERC011    198     199         42 
          -----  -------  ----------- 
 
 ERC013    212     213         73 
          -----  -------  ----------- 
 ERC013    213     214        223 
          -----  -------  ----------- 
 ERC013    214     215        305 
          -----  -------  ----------- 
 
 ERC013    269     270         34 
          -----  -------  ----------- 
 ERC013    270     271        506 
          -----  -------  ----------- 
 ERC013    271     272        163 
          -----  -------  ----------- 
 ERC013    272     273        185 
          -----  -------  ----------- 
 ERC013    273     274         35 
          -----  -------  ----------- 
 ERC013    274     275         32 
          -----  -------  ----------- 
 ERC013    275     276         16 
          -----  -------  ----------- 
 ERC013    276     277         16 
          -----  -------  ----------- 
 ERC013    277     278         41 
          -----  -------  ----------- 
 ERC013    278     279         24 
          -----  -------  ----------- 
 ERC013    279     280         14 
          -----  -------  ----------- 
 
 ERC014    231     232         73 
          -----  -------  ----------- 
 ERC014    232     233        158 
          -----  -------  ----------- 
 ERC014    233     234         98 
          -----  -------  ----------- 
 ERC014    234     235         94 
          -----  -------  ----------- 
 ERC014    235     236         68 
          -----  -------  ----------- 
 ERC014    236     237         53 
          -----  -------  ----------- 
 ERC014    237     238         34 
          -----  -------  ----------- 
 ERC014    238     239        264 
          -----  -------  ----------- 
 ERC014    239     240         60 
          -----  -------  ----------- 
 ERC014    240     241        142 
          -----  -------  ----------- 
 ERC014    241     242        245 
          -----  -------  ----------- 
 ERC014    242     243         66 
          -----  -------  ----------- 
 ERC014    243     244        288 
          -----  -------  ----------- 
 ERC014    244     245         40 
          -----  -------  ----------- 
 ERC014    245     246         55 
          -----  -------  ----------- 
 ERC014    246     247         76 
          -----  -------  ----------- 
 ERC014    247     248         93 
          -----  -------  ----------- 
 ERC014    248     249        127 
          -----  -------  ----------- 
 ERC014    249     250        102 
          -----  -------  ----------- 
 
 ERC014    252     253         82 
          -----  -------  ----------- 
 
 ERC014    258     259         18 
          -----  -------  ----------- 
 
 ERC014    270     271         42 
          -----  -------  ----------- 
 
 ERC014    274     275         32 
          -----  -------  ----------- 
           275     276         24 
          -----  -------  ----------- 
           276     277         15 
          -----  -------  ----------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 19, 2017 03:42 ET (08:42 GMT)