Panorama

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Panorama Project

Highlights:

Two adjoining exploration licences, covering 130 square kilometres, in an area that Greatland considers to be highly prospective for gold and cobalt

Located approximately 200 kilometres south east of Port Hedland occupies a dominant and strategic position across what is potentially the largest coherent cobalt in streams anomaly in Western Australia

Stream sediment sampling data gathered by Anglo American Corporation in the early 1970s outlined a 25 kilometre long by 10 kilometre wide area of highly anomalous cobalt and up to 20 gold anomalies across the project area

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The Panorama Cobalt Project comprises two adjoining licences total an area of 130 square kilometres and cover a large area prospective for gold and cobalt mineralisation.

Gold Prospects

Drainage samples were collected during the mid 1990s and during 2015. Initial results of this review have identified approximately twenty gold in stream anomalies within the Company’s 130 square kilometre project area. Gold anomalism in streams peaks at 68.5ppb and 60ppb. Historic gold mines and alluvial occurrences are apparent immediately north of the Company’s licences with the mineralised trend and geological strike continuing south into Greatland licences.

The Company notes government geological mapping confirms the presence of coarse grained Archean sedimentary rocks striking over 18km from north to south throughout the Panorama project area. Some of the gold anomalies identified in the latest data review lie along this trend.

Cobalt Prospects

A systematic stream sediment sampling programme was completed over the broader Pilbara Region by Anglo American Corporation in the early 1970s. Samples were collected at a nominal 2km spacing and results from these samples have outlined a large cluster of high cobalt in streams. Stream sediments samples consistently returned over 50ppm cobalt, peaking at over 70ppm cobalt (against a background of less than 5ppm cobalt). The area covered by the anomalous cobalt is potentially the largest coherent cobalt in streams anomaly in Western Australia being more than 25 kilometres long and up to 10km wide covering an area of approximately 200 square kilometres. Greatland’s licences cover the bulk of the cobalt anomaly with five areas of anomalous cobalt identified in the southern parts of the Company’s licences. Cobalt anomalism in streams peaks at 70ppm and 65ppm.

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Project Geology

Geology of the area is predominantly greenstone and granite of the Archean Pilbara Craton in northern Western Australia. The definitive source of the cobalt is not yet known, however it is likely to be localised in folding and faulting of the bedrock sequences; similar to other known styles of mineralisation in Archean greenstones elsewhere in the Pilbara displaying drill intercepts with high cobalt of up to 0.99%.

Historically the Pilbara Region is recognised for its gold and base metal mineralisation but apart from the work by Anglo American in the early 1970s very little subsequent exploration work has been carried out within the Panorama project area leaving the cobalt mineralisation untested. The large area of the cobalt in streams anomaly suggests a significant mineralising event has occurred.