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.
· The recent drilling campaign at Warrentinna (see announcement dated 29th 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