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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.20 | -3.48% | 5.54 | 5.50 | 5.60 | 5.85 | 5.55 | 5.85 | 27,534,962 | 16:35:10 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 0 | -21.12M | -0.0041 | -13.54 | 282.52M |
From Apr 2019 to Apr 2024
TIDMGGP
RNS Number : 4501N
Greatland Gold PLC
24 September 2019
24 September 2019
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Exploration Update - Firetower Drill Results
Broad widths of gold mineralisation intersected at Firetower prospect
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce that initial results from diamond drilling at the Company's 100% owned Firetower project in Tasmania, Australia confirm the presence of broad widths of gold mineralisation.
The current systematic, grid-based drilling programme comprises approximately 15 diamond holes with depths from 50m to 250m, for a total of approximately 2,000 metres. The programme is designed to test the main zone of mineralisation at Firetower and additional holes will test a previously undrilled area at Firetower East where new targets were identified by last year's 3D Induced Polarisation ("3DIP") survey.
Analytical results have been received for the first six diamond holes at Firetower and are reported in this announcement.
Highlights of Drill Results
-- Results received to date confirm the presence of broad widths of gold mineralisation at the Firetower prospect.
-- Best initial results include:
o 54.5m at 1.36g/t Au from surface (0m) (2019FTD001), including
-- 5m at 5.41g/t Au from 45m
o 29m at 0.78g/t Au from 78m (2019FTD003), including
-- 5m at 2.54g/t Au from 92m
o 5m at 8.72g/t Au from 81m (2019FTD004), including
-- 2m at 21.2g/t Au from 81m
o 27m at 0.46g/t Au from 43m (2019FTD005)
o 23m at 0.53g/t Au from 50m (2019FTD006)
-- Two drill holes (2019FTD001 and 2019FTD006) ended in or near mineralisation and these holes may be extended in order to test for additional mineralisation at depth.
-- Drilling activities are ongoing and further assay results are awaited at Firetower as well as for drill holes designed to test the previously undrilled target at Firetower East.
Gervaise Heddle, Chief Executive Officer, commented: "We are pleased by the initial results from our ongoing drill campaign at Firetower which confirm the presence of broad widths of gold mineralisation. This is a promising start as these early results highlight potential depth extensions and good continuity of mineralisation between sections drilled to date. We look forward to providing further updates over the coming weeks, including results from drilling at the previously untested Firetower East prospect."
In June 2019 Greatland commenced drilling at the Firetower project with two key objectives: a) to systematically test strike continuity and potential depth extensions of mineralisation at Firetower as guided by 3DIP inversions; b) to test the 3DIP chargeability response along strike at the Firetower East prospect, in an area previously undrilled, and determine its spatial relationship to mineralisation.
Overview of the Firetower Project
The Firetower project is located in central north Tasmania, Australia, and covers an area of 62 square kilometres. The project lies in the eastern parts of the highly mineralised Mt Read volcanic rocks which host major polymetallic (zinc, lead, gold) deposits such as Hellyer and Roseberry, and copper deposits such as Mt Lyell, and the Henty gold mine which has produced over 1.25m oz since 1996.
The 100% owned Firetower project includes the prospects of Firetower, Firetower West, Firetower East and the strike extensions of prospective stratigraphy. The Firetower prospect has significant gold mineralisation from surface up to 30g/t while the mineralised system at Firetower West shows copper to 1.34% and silver to 2.6g/t. Both prospects remain open along strike and at depth.
Gold mineralisation at Firetower was first located in the late 1970s but this was not followed up until the early 1990s with reconnaissance drilling. More modern exploration by Greatland and JV partners has included soil geochemistry, geophysics and diamond drilling. Drilling to date has, in general, tested approximately 250m of strike at the main Firetower prospect.
The current diamond drilling programme is being carried out on systematic north-south traverses across the main mineralised zone at the Firetower prospect. A primary objective is to determine strike continuity and depth extensions as guided by 3DIP inversions. The programme comprises approximately 15 holes with depths from 50m to 250m. Holes are angled at 60 degrees to provide coverage across each section and it is expected that approximately 2,000m of drilling will be completed. Spacing between drill traverses is a nominal 25m.
The main zone of gold mineralisation at the Firetower prospect is spatially associated with an IP chargeability response. The IP response will also be tested along strike and at depth during the current programme at the Firetower East prospect which is located approximately 500m east of the Firetower prospect. The IP response at Firetower, as established by both 3DIP (2018) and gradient array (2002) surveys, extends across approximately 3km of strike.
Analytical results have been received for the first six diamond holes at Firetower and are reported in this announcement. Results show broad widths of gold mineralisation at the Firetower prospect including 54.5m at 1.36g/t Au from 0m in 2019FTD001, 29m at 0.78g/t Au from 78m in hole 2019FTD003, 5m at 8.72g/t Au from 81m in hole 2019FTD004, and 23m at 0.53g/t Au from 50m in hole FTD006.
Mineralisation is hosted in a package of volcanic and sedimentary rocks with an apparent structural control. Peak intercept to date is 2m at 21.2g/t Au from 81m in hole 2019FTD004. Results suggest that there is good continuity of mineralisation between sections drilled to date, and highlight potential depth extensions to the known mineralisation. It is apparent that mineralisation is present at, or near to, the bottom of holes 2019FTD001 and 2019FTD006 and as such these holes may be extended in order to test for additional mineralisation at depth. Drill hole collar details and tabulated intercepts are presented in Appendix I and additional drill hole information is presented in Appendix II.
Ground conditions have remained good since programme commencement. Drilling activities are ongoing and are being supported by continuous XRF core scanning. Further analytical results will be reported in the coming weeks.
Additional information on the Firetower 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 Mick Sawyer, Exploration Manager for Greatland Pty Ltd, who is a member of the Australian Institute of Geoscientists and is a Registered Professional Geoscientist (R.P.Geo #5694). Mr Sawyer 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 Sawyer consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.
Information in this announcement that relates to Black Hills project exploration results has been extracted from the following announcements:
"Greatland Commences Field Activities at Firetower", dated 12 June 2019
"Firetower Project - Launch of New Drilling Plan", dated 16 April 2019
"Firetower Project - Large IP Target Identified", dated 20 August 2018
"Firetower Project - New Exploration Program", dated 11 April 2018
Further information on the Firetower project can be found under 'Firetower' on the Company's website. In addition, this announcement is available in PDF format, with figures/diagrams, from the Company's website: www greatlandgold.com
Enquiries:
Greatland Gold PLC
Gervaise Heddle/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Numis Securities Limited (Joint Broker)
Matthew Hasson/John Prior/Alamgir Ahmed
Tel: +44 (0)20 7260 1000
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore/Joe Quinlan
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc is a London-listed (LON:GGP) natural resource exploration and development company with a current focus on gold, copper and nickel exploration projects.
The Company has six main projects; four situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.
In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland's Havieron gold-copper project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65m.
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.
APPIX I
DRILLHOLE DATA - Firetower Project
Firetower 2019 Diamond Drilling - Collar Locations (GDA94 Zone55)
Hot Features
Premium
Hole ID Target Northing Easting RL Hole Depth Azimuth Dip
2019FTD001 Firetower 5405314 446077 644 56.35 360 -60
----------- --------- -------- ---- ----------- -------- ----
2019FTD002 Firetower 5405255 446174 647 109.2 360 -60
----------- --------- -------- ---- ----------- -------- ----
2019FTD003 Firetower 5405233 446070 605 120.4 360 -60
----------- --------- -------- ---- ----------- -------- ----
2019FTD004 Firetower 5405251 446082 615 106 360 -60
----------- --------- -------- ---- ----------- -------- ----
2019FTD005 Firetower 5405234 446105 624 120.5 360 -60
----------- --------- -------- ---- ----------- -------- ----
2019FTD006 Firetower 5405264 446100 626 89.2 360 -60
----------- --------- -------- ---- ----------- -------- ----
Firetower 2019 Diamond Drilling - Intercepts
Reporting Criteria: Intercepts reported as a minimum length of 1m, greater than of equal to 0.2ppm Au, with maximum internal dilution of 4m and intervals greater than or equal to 0.5ppm Au with zero metres of internal dilution.
Hole ID From To Interval Au (g/t) Ag ppm
2019FTD001 0 54.5 54.5 1.36 4.6
----- ------ --------- --------- -------
incl 33 39 6 2.51 5.8
----- ------ --------- --------- -------
incl 45 50 5 5.41 13.3
----- ------ --------- --------- -------
2019FTD002 52 54 2 0.77 7.1
64 65 1 0.24 1.5
----- ------ --------- --------- -------
72 76 4 0.27 1.7
----- ------ --------- --------- -------
82 85 3 1.39 1.8
----- ------ --------- --------- -------
108 109.2 1.2 0.26 0.3
----- ------ --------- --------- -------
2019FTD003 20 21.3 1.3 0.67 10.7
----- ------ --------- --------- -------
38 59.8 21.8 0.28 0.9
----- ------ --------- --------- -------
68 69 1 0.29 0.9
----- ------ --------- --------- -------
72 73 1 0.24 1.1
----- ------ --------- --------- -------
78 107 29 0.78 1.2
----- ------ --------- --------- -------
incl 92 97 5 2.54 2.4
----- ------ --------- --------- -------
111 112 1 0.24 0.3
----- ------ --------- --------- -------
2019FTD004 2 3 1 0.24 1.3
----- ------ --------- --------- -------
17.5 31 13.5 0.64 1.3
----- ------ --------- --------- -------
38 39 1 0.21 0.2
----- ------ --------- --------- -------
48 61 13 0.34 0.5
----- ------ --------- --------- -------
72 74 2 0.27 0.1
----- ------ --------- --------- -------
78 79 1 0.23 0.4
----- ------ --------- --------- -------
81 86 5 8.72 13.2
----- ------ --------- --------- -------
incl 81 83 2 21.2 31.8
----- ------ --------- --------- -------
94 99 5 0.56 1.1
----- ------ --------- --------- -------
2019FTD005 43 70 27 0.46 1.4
incl 66 68 2 1.74 1.3
----- ----- ---- ----- -----
82 86 4 0.28 1.9
----- ----- ---- ----- -----
90 98 8 0.51 1.5
----- ----- ---- ----- -----
112 115 3 0.30 1.2
----- ----- ---- ----- -----
2019FTD006 13.5 20.5 7 0.58 1.7
28 34 6 0.35 0.3
----- ----- ---- ----- -----
38.2 41 2.8 0.27 0.8
----- ----- ---- ----- -----
50 73 23 0.53 1.2
----- ----- ---- ----- -----
84 89.2 5.2 0.86 13.4
----- ----- ---- ----- -----
APPIX II
JORC Code 2012 Table 1 - Firetower Project
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria Explanation
Sampling 2019 Diamond Drilling
techniques * Nature and quality of sampling (eg cut channels, * Assays have been received for six 2019 Diamond drill
random chips, or specific specialised industry holes. These are the first six holes of a planned 15
standard measurement tools appropriate to the hole program.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * Samples consist of diamond drill core (HQ and NQ
meaning of sampling. sizes) cut in half.
* Include reference to measures taken to ensure sample * All available core was cut and sampled. Sampling
representivity and the appropriate calibration of any interval is generally 1m or 0.5m, but respects
measurement tools or systems used. geological contacts in places. Sampling was carried
out to Greatland internal protocols and QAQC
procedures.
* 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 * Entire samples were crushed then pulverised to a
relatively simple (eg 'reverse circulation drilling nominal 85% passing 75 microns. The resulting pulps
was used to obtain 1 m samples from which 3 kg was were analysed for Au (50g charge, fire assay) and
pulverised to produce a 30 g charge for fire assay'). multi-element geochemistry (four acid digest ICP-MS).
In other cases more explanation may be required, such
as where there is coarse gold that has inherent
sampling problems. Unusual commodities or * The method of sampling is industry standard for
mineralisation types (eg submarine nodules) may reporting of Exploration Results.
warrant disclosure of detailed information.
* Locations and orientation of 2019 drill holes for
this release are tabulated in the body of the report.
------------------------------------------------------------- -----------------------------------------------------------------------
Drilling Diamond Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Drilling was undertaken using a track mounted
hammer, rotary air blast, auger, Bangka, sonic, etc) Coretech CSD1800 drill rig. The drill rig is capable
and details (eg core diameter, triple or standard of 1000m NQ.
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc). * Drill holes were cased with HWT casing to 3m. HQ
sized drill core from 0m to 20m followed by NQ drill
core from 20m to end of hole.
------------------------------------------------------------- -----------------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * Length based core recovery is measured from
sample recoveries and results assessed. reassembled core for every drill run. Data is
recorded into laptop computer using 'LogChief' -
geological logging software.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* Core recovery is very high (97%). The drilling method
employed leads to very high recoveries.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * Due to consistently high recoveries, no relationship
material. between grade and recovery is evident.
------------------------------------------------------------- -----------------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * All drill core/samples were geologically logged for
and geotechnically logged to a level of detail to lithology, mineralogy, alteration, veining, sulphide
support appropriate Mineral Resource estimation, occurrences, structure and geotechnical data. This
mining studies and metallurgical studies. logging includes both qualitative and quantitative
components. All core is digitally photographed.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography. * Logging is recorded directly into a laptop computer
using 'LogChief' - geological logging software. This
software has 'look-up tables' that do not allow for
* The total length and percentage of the relevant invalid entries. Additional validation is then
intersections logged. carried out when data is transferred to Greatlands
database managers.
* All samples are analysed in the field using a pXRF
(Olympus Vanta handheld - model VMR) for the purpose
of geochemical interpretation.
* All core is analysed in the field using a Minalyze
unit. This collects ultra-high resolution photography,
and continuous XRF measurements.
------------------------------------------------------------- -----------------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * All sampled core was cut with a core saw in a
and sample half or all core taken. consistent way that preserved the bottom of hole
preparation reference line, where present. Sampling interval is
generally 1m or 0.5m, but respects geological
* If non-core, whether riffled, tube sampled, rotary contacts in places.
split, etc and whether sampled wet or dry.
* Sample preparation included drying, crushing and
* For all sample types, the nature, quality and pulverising in full to a nominal 85% passing 75
appropriateness of the sample preparation technique. microns.
* Quality control procedures adopted for all * All staff were adequately trained for all sampling
sub-sampling stages to maximise representivity of steps, with geologists checking sample sheets prior
samples. to loading into the database.
* Measures taken to ensure that the sampling is * The sample sizes are considered appropriate for the
representative of the in situ material collected, style of mineralisation encountered in the region.
including for instance results for field
duplicate/second-half sampling.
* No field duplicates have been collected/reported.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
------------------------------------------------------------- -----------------------------------------------------------------------
Quality of
assay data * The nature, quality and appropriateness of the * All samples were submitted for preparation at
and assaying and laboratory procedures used and whether Intertek laboratory Adelaide. Pulp samples were then
laboratory the technique is considered partial or total. submitted for analysis to Intertek Perth Laboratory.
tests
* For geophysical tools, spectrometers, handheld XRF * Au analysis - 50g Fire Assay/ICP-OES (detection limit
instruments, etc, the parameters used in determining of 0.005ppm).
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc. * Multi-Element analysis - four acid digestion ICP-MS
(for Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs,
Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb
* Nature of quality control procedures adopted (eg ,
standards, blanks, duplicates, external laboratory Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th,
checks) and whether acceptable levels of accuracy (ie Ti, TI, U, V, W, Y, Zn, Zr).
lack of bias) and precision have been established.
* No geophysical tools were used for any element
concentrations in this report.
* All samples are analysed in the field using a pXRF
(Olympus M-series) for the purpose of geochemical
interpretation. This data is for internal company use
only.
* Quality Control procedures in the field involve the
use of certified reference material (CRM's) for assay
standards and blanks. Standards and blanks are
inserted every 20 samples.
* No field duplicates have been collected/reported.
------------------------------------------------------------- -----------------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * Significant intersections have been verified by
and assaying either independent or alternative company personnel. multiple company personnel.
* The use of twinned holes. * No twin holes have been drilled.
* Documentation of primary data, data entry procedures, * Logging is recorded directly into a laptop computer
data verification, data storage (physical and using 'LogChief' - geological logging software. This
electronic) protocols. software has 'look-up tables' that do not allow for
invalid entries. Additional validation is then
carried out when data is transferred to Greatlands
* Discuss any adjustment to assay data. database managers.
* No adjustments have been made to any assay data.
* Primary assay data is stored in its electronic form,
and retained in both original certificate form (.pdf)
and text/.csv files.
------------------------------------------------------------- -----------------------------------------------------------------------
Location Location information
of data * Accuracy and quality of surveys used to locate drill * Drill hole collar locations were surveyed using a
points holes (collar and down-hole surveys), trenches, mine handheld Garmin 64ST GPS (accuracy of +/- 5m).
workings and other locations used in Mineral Resource
estimation.
* All coordinates are in GDA94 Zone55.
* Specification of the grid system used.
* Down hole surveys were conducted every 30m using a
Pathfinder electronic survey tool (for holes
* Quality and adequacy of topographic control. 2019FTD001 à 2019FTD005). Subsequent holes were
surveyed down hole using an Axis Champ Discover
survey tool.
* Topographic control of drill collars utilises
handheld GPS information.
------------------------------------------------------------- -----------------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Drill planning at Firetower was designed to reduce
distribution spacing to 15m between sections, and drill all holes
in the same orientation (north) for the collection of
* Whether the data spacing and distribution is systematic geological information. Average spacing
sufficient to establish the degree of geological and between drill holes on sections is 40m.
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied. * Historic drilling was of an ad-hoc nature, with
average section spacing (east-west) of 30m (in the
main Firetower area), although holes have been
* Whether sample compositing has been applied. drilled both to the north and south so continuity of
geological information collected has been sparse.
* The data spacing is not sufficient to establish a
Mineral Resource.
------------------------------------------------------------- -----------------------------------------------------------------------
Orientation
of data in * Whether the orientation of sampling achieves unbiased * It is interpreted that the local geology is
relation sampling of possible structures and the extent to sub-vertical. The orientation of drill holes is not
to which this is known, considering the deposit type. believed to have introduced any bias in sampling.
geological
structure
* If the relationship between the drilling orientation * The orientation of key mineralised structures is
and the orientation of key mineralised structures is unknown.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
* There is presently insufficient information to
confirm the true thickness of any mineralised
intervals.
------------------------------------------------------------- -----------------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * Samples were freighted to the Laboratory using
Greatland chain of custody protocols.
* Verification of sample numbers and identification is
conducted by the laboratory on receipt of samples,
and sample receipt advise issued to Greatland.
* Details of all sample movement are digitally
recorded. Dates, Hole ID sample ranges, and the
analytical suite requested are recorded with the
dispatch of samples to analytical services.
------------------------------------------------------------- -----------------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of sampling * No audits have been completed.
techniques and data.
* No reviews are considered required due as the project
is in early phase of exploration.
------------------------------------------------------------- -----------------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria Explanation
Mineral
tenement * Type, reference name/number, location and ownership * The Firetower Project is located wholly within the
and land including agreements or material issues with third following Exploration Licence:
tenure status parties such as joint ventures, partnerships,
overriding royalties, native title interests,
historical sites, wilderness or national park and * EL26/2004 (granted)
environmental settings.
* Greatland Pty Ltd holds a 100% interest in EL26/2004
* 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. * The tenements are in 'good standing' with Minerals
Resources Tasmania (MRT).
* No known impediments exist, including a licence to
operate in the area.
------------------------------------------------------------- -----------------------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Exploration in the region of the Firetower Project
parties parties. has involved the following companies:
* Arasco (1970's)
* CRA (1984)
* Noranda and Noranda Plutonic JV (1989-1993)
* Sirrocco (2000)
* Auriongold (2001-2002)
* Greatland Pty Ltd (2004-2011)
* Unity Mining Limited (2011-2014)
* Greatland Pty Ltd (2015 - current)
------------------------------------------------------------- -----------------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The Firetower project lies in the central north of
mineralisation. Tasmania within equivalents of the Mt Read Volcanics.
* Gold mineralisation is hosted in volcanoclastic rocks
and manifests as sheeted veins (and breccias) with
associated pyrite, haematite, quartz and limonite.
------------------------------------------------------------- -----------------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * A tabulation of the collar details and significant
understanding of the exploration results including a intersections is within the body of the release.
tabulation of the following information for all
Material drill holes:
* Reports prepared by Greatland Pty Ltd are available
to view on: www.greatlandgold.com
* easting and northing of the drill hole collar
* elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* 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 Results, weighting averaging * Exploration results are reported by length weighted
methods techniques, maximum and/or minimum grade truncations average.
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Significant intersections are reported as minimum
length of 1m - greater than or equal to 0.2ppm Au
* Where aggregate intercepts incorporate short lengths with up to 4m of internal dilution and intervals
of high grade results and longer lengths of low grade greater than or equal to 0.5ppm Au with zero metres
results, the procedure used for such aggregation of internal dilution.
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
between * These relationships are particularly important in the * Down hole lengths are reported, true width is not
mineralisation reporting of Exploration Results. known.
widths and
intercept
lengths * If the geometry of 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 sections (with scales) and * Appropriate diagrams are available with this report.
tabulations of intercepts should be included for 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
reporting * Where comprehensive reporting of all Exploration * The company believes this announcement is a balanced
Results is not practicable, representative reporting report, and that all material information has been
of both low and high grades and/or widths should be reported.
practiced to avoid misleading reporting of
Exploration Results.
------------------------------------------------------------- -----------------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * Previous exploration results included in this
exploration should be reported including (but not limited to): announcement can be found on the company website:
data geological observations; geophysical survey results; www.greatlandgold.com
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 work
* The nature and scale of planned further work (eg * Further results are awaited for the remaining holes.
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
* Planned further work includes geological and
geochemical investigation of drill results with the
* Diagrams clearly highlighting the areas of possible aim of developing a 3D geological model of the
extensions, including the main geological project.
interpretations and future drilling areas, provided
this information is not commercially sensitive.
------------------------------------------------------------- -----------------------------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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