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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Greatland Gold Plc | LSE:GGP | London | Ordinary Share | GB00B15XDH89 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.05 | -0.85% | 5.80 | 5.70 | 5.90 | 5.875 | 5.70 | 5.85 | 11,099,961 | 15:46:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 0 | -21.12M | -0.0041 | -14.15 | 295.24M |
TIDMGGP
RNS Number : 9077K
Greatland Gold PLC
10 May 2022
10 May 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 awarded a drilling grant for Paterson province exploration project
Greatland receives a grant of up to A$200,000 (GBP115,000)
under the Western Australian Government's Exploration Incentive Scheme
Grant to be used to co-fund exploration at Greatland's 100% owned Rudall licence,
located 20km southeast of the Havieron gold-copper resource
Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to announce it has been awarded a grant from the Western Australian Government to co-fund exploration drilling and mobilisation costs at its 100% owned Rudall licence in the Paterson province.
The grant awarded is the result of a successful application under the Exploration Incentive Scheme ("EIS"). Greatland is eligible to receive a grant up to A$200,000 (GBP115,000) to co-fund drilling and mobilisation costs, within 12 months of the grant.
Shaun Day, Managing Director of Greatland Gold plc, commented : "The drilling grant for the Rudall licence will accelerate our programme to test targets in this area of the Paterson. Testing of priority targets delivers the opportunity to unlock the exploration option value of the portfolio."
About Rudall
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 being planned this year to refine the Ramses anomaly before an exploration drill program is undertaken, utilising the EIS grant to co-fund the drilling component of the 2022 exploration work programme.
Additional information on the project can be found on the Company's website at
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/
About the Exploration Incentive Scheme
The Co-funded Government and Industry Drilling Program is being funded by the Western Australian State Government, to provide a stimulus to geoscience exploration and contribute to the economic development of regional areas of Western Australia. Geoscience exploration includes mineral, oil and gas, and geothermal exploration with drilling to be undertaken in underexplored areas. The program is administered by the Western Australian Department of Mines, Industry Regulation and Safety.
Enquiries:
Greatland Gold PLC +44 (0)20 3709 Shaun Day 4900 info@greatlandgold.com www.greatlandgold.com SPARK Advisory Partners Limited (Nominated Adviser) +44 (0)20 3368 Andrew Emmott/James Keeshan 3550 Berenberg (Joint Corporate Broker and Financial Adviser) +44 (0)20 3207 Matthew Armitt/ Jennifer Lee/ Detlir Elezi 7800 Canaccord Genuity (Joint Corporate Broker and Financial Adviser) +44 (0)20 7523 James Asensio/Patrick Dolaghan 8000 Hannam & Partners (Joint Corporate Broker and Financial Adviser) +44 (0)20 7907 Andrew Chubb/Matt Hasson/Jay Ashfield 8500 SI Capital Limited (Joint Broker) +44 (0)14 8341 Nick Emerson/Alan Gunn 3500 Luther Pendragon (Media and Investor Relations) +44 (0)20 7618 Harry Chathli/Alexis Gore 9100
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.
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria J ORC Code explanation Commentary Sampling -- Nature and quality -- No sampling carried out techniques of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation) -- Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. -- Aspects of the determination of mineralisation that are Material to the Public Report. -- In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. Sampling -- MagSPEC Airborne magnetics -- 50m line spaced, 090 - techniques & radiometrics Program 270(o) orientation; 500m spaced tie lines (0-180(o) ori) and 30m sensor height; 1,603 line km. Magnetometer details: 20Hz sample rate (3.5m) Novatel OEM DGPS receiver G-823A caesium vapour magnetometer 0.001nT resolution; 0.01nT sensitivity 3-axis fluxgate magnetometer Gamma-Ray Spectrometer 32L crystal volume 1024 channels 2Hz sample rate (35m) Multi-peak automatic gain Altimeters - Bendix/King KRA405 radar altimeter: Resolution 0.3m Sample Rates - 20Hz Range 0 - 760m Altimeters - Renishaw ILM-500R laser altimeter: Resolution 0.01m Sample Rates - up to 20Hz Range 0 - 500m Barometric Pressure Sensor Accuracy - RSS +/- 0.25% FS
Range - 600 - 1100hPa Magnetic Base Stations GEM GSM-19 Overhauser & Scintrex Envi-Mag proton precession base station magnetometers: Resolution - 0.01/0.1nT Accuracy - 0.1/0.5nT Sample Rate - 1.0/0.5Hz Drilling -- Drill type (eg core, -- No drilling performed techniques reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drill -- Method of recording -- No drill sampling completed sample and assessing core and recovery chip sample recoveries and results assessed. -- Measures taken to maximise sample recovery and ensure representative nature of the samples. -- Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Logging -- Whether core and chip -- N/A samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. -- Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. -- The total length and percentage of the relevant intersections logged. Sub-sampling -- If core, whether cut -- N/A techniques or sawn and whether quarter, and sample half or all core taken. preparation -- If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. -- For all sample types, the nature, quality and appropriateness of the sample preparation technique. -- Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. -- Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. -- Whether sample sizes are appropriate to the grain size of the material being sampled. Quality -- The nature, quality -- MAGNETICS SURVEY - Compensation of assay and appropriateness of box flown prior to survey; data and the assaying and laboratory GPS accuracy tests; swoop laboratory procedures used and whether tests for altimeters; diurnal tests the technique is considered base station monitoring. Processing partial or total. - parallax correction, diurnal -- For geophysical tools, filtering & subtraction, IGRF spectrometers, handheld correction, tie line levelling, XRF instruments, etc, micro levelling the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. -- Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. Verification -- The verification of -- N/A of sampling significant intersections and assaying by either independent or alternative company personnel. -- The use of twinned holes. -- Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. -- Discuss any adjustment to assay data. Location -- Accuracy and quality -- Geophysical surveys provided of data of surveys used to locate in the Geocentric Datum of points drill holes (collar and Australian (GDA94 Zone 51) down-hole surveys), trenches, or WGS84 SUTM Zone 51 mine workings and other locations used in Mineral Resource estimation. -- Specification of the grid system used. -- Quality and adequacy of topographic control. Data spacing -- Data spacing for reporting -- N/A and distribution of Exploration Results. -- Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. -- Whether sample compositing has been applied. Orientation -- Whether the orientation -- N/A of data of sampling achieves unbiased in relation sampling of possible structures to geological and the extent to which structure this is known, considering the deposit type. -- If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Sample -- The measures taken -- N/A security to ensure sample security. Audits -- The results of any -- No audits or reviews have or reviews audits or reviews of sampling been completed. techniques and data.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral -- Type, reference name/number, -- The Rudall tenement E45/5533 tenement location and ownership is 100% owned by Greatland and land including agreements or Pty Ltd. tenure material issues with third -- The tenement is subject status parties such as joint to a Land Access Agreement ventures, partnerships, (LAA) with Western Desert overriding royalties, Lands Aboriginal Corporation; native title interests, historical sites, wilderness or national park and environmental settings. -- The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. Exploration -- Acknowledgment and -- One drill hole targeting done by appraisal of exploration potash brines collared 5km other parties by other parties. West of the Ramses Geophysical target was completed by Reward Minerals in 2014 (refer WAMEX report A106582). Hole DWRC1455 logged Cainozoic cover to approximately 75m and Permian Paterson Fm to end of hole
at to 144m depth. -- No other known previous exploration has been carried out on the tenement. -- GSWA seismic line LN211 (18GA-KB1) was completed through E45/5533 2.5kms south of the Ramses target. Geology -- Deposit type, geological -- Exploration is for intrusion setting and style of mineralisation. related Au-Cu deposits similar to Telfer, Havieron and Winu, all located in Neo-Proterozoic Yeneena Group sediments of the Paterson Province, Western Australia Drill -- A summary of all information -- N/A hole Information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. -- If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Data aggregation -- In reporting Exploration -- N/A methods Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. -- Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. -- The assumptions used for any reporting of metal equivalent values should be clearly stated. Relationship -- These relationships -- N/A between are particularly important mineralis-ation in the reporting of Exploration widths Results. and intercept -- If the geometry of lengths the mineralisation with respect to the drill hole angle is known, its nature should be reported. -- If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). Diagrams -- Appropriate maps and -- Maps are provided in Figure sections (with scales) 1 and 2. No significant discovery and tabulations of intercepts is reported and no sections should be included for are provided. any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Balanced -- Where comprehensive -- The reporting is considered reporting reporting of all Exploration balanced Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Other -- Other exploration data, -- No other substantive exploration substantive if meaningful and material, data other than that provided exploration should be reported including in the figures. data (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Further -- The nature and scale -- Further geophysical surveying work of planned further work and interpretation is planned (eg tests for lateral before potential drilling extensions or depth extensions of any defined targets. or large-scale step-out drilling). -- Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
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May 10, 2022 03:41 ET (07:41 GMT)
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