Commencement of Drilling at Warrentinna And Results from Bromus and Lackman Rock.
Greatland Gold plc (the “Company”), the mineral exploration and development company focused on gold projects in Tasmania and Western Australia, announces that drilling has commenced at its Warrentinna project. Furthermore, results from auger sampling at Bromus and Lackman Rock have defined significant areas with elevated gold in soil, and nickel prospective ultramafic units.
The project is located in north-east Tasmania and covers approximately 110 km• of rocks prospective for gold mineralisation. The Derby North area is located within this project and has, to date, been an area of focus for the Company. Previous reverse circulation drilling by the Company at the Derby North area returned results of 5m at 29.26g/t gold from 36m, including 1m at 103.07g/t gold.
The Company has received all necessary Government approvals for a proposed follow-up reverse circulation drilling program at the Derby North area. After initial site delays in March, due to heavy rains, the Company is pleased to announce that reverse circulation drilling at Derby North has commenced.The current drill program will test the continuity of mineralisation intersected previously, and also examine southern and western strike extensions to mineralisation.
Initial sampling of drill holes will be as 4m composites. Significant results from 4m composite sampling will then be re-sampled as 1m intervals to better define grade distribution and assess repeatability of gold grades.
First results from the current reverse circulation drilling are expected to be received during the current quarter.
The Bromus project is located in the southern Yilgarn region of Western Australia, approximately 25km south-west of the gold mining town of Norseman.
Bromus includes a north-west trending greenstone belt that is interpreted to have a width of some 2km. Most of the tenement is covered by soils with little exposure of the underlying gold prospective greenstones.
The Company has completed its maiden auger geochemical soil sampling program at the project. Being a regional sampling program, the sample spacing was broad at 800m x 100m. Analyses of all samples have now been received.
The auger sampling has defined a coherent anomaly some 4,600m long and up to 600m wide peaking at 8.4ppb gold. This anomaly is co-incident with the strike of underlying prospective greenstone sequences as interpreted from regional aeromagnetic data.
Lackman Rock is located in the southern Yilgarn region approximately 80km south-west of Norseman in southern Western Australia.
The Company has completed a follow-up auger geochemical soil sampling program at the project to better define elevated gold and nickel values outlined from its previous regional sampling. This follow-up sampling reduced the sample spacing at the project from 1,000m x 200m to 400m x 200m. Analyses of all samples have now been received.
The follow-up auger sampling, together with the previous sampling, has outlined two areas of elevated gold values. The first covers an area of approximately 800m x 200m peaking at 8.3ppb gold and the second area of 900m x 700m peaking at 6ppb gold.
Furthermore, sample results suggest that nickel prospective ultramafic lithologies are present in the central parts of the project area. Ultramafic units are interpreted to be present over a strike extent of 1,800m with a width of some 400m.
Geophysical surveys and drilling may be justified to further investigate these gold and nickel prospective areas, and future exploration strategies are to be formulated.
Greatland Gold owns 100% of all projects in its portfolio. The Company’s policy is to develop its projects via systematic exploration activities culminating in the drilling of strategic targets in an effort to locate new orebodies.
The Company concentrates its efforts in Australia where there is low political risk, an established mining culture and regions prospective for new orebodies.
Callum Baxter, CEO, commented: “Field activities for 2011 have commenced and we are pleased to have drilling underway at the Derby North area, where management believes there is potential to delineate near surface gold resources. The high grades intersected in previous drilling by the Company are very encouraging. Additionally, field work carried out so far this year in Western Australia has outlined a number of large areas with gold and nickel prospectivity. Further work on these areas is likely in the near term. We are in discussion with a number of parties with regard to Joint Venture arrangements for our Tasmanian and Western Australia licences and we will update the market in due course.”
The information in this announcement that relates to Exploration Results is based on information compiled by Mr Paul Askins and Mr Callum Baxter, directors of Greatland Gold, who are both members of the Australasian Institute of Mining and Metallurgy. Paul Askins and Callum Baxter have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Paul Askins and Callum Baxter consent to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.
All RC drill sample results were obtained from 1m spear sampling to 4kg. All samples were prepared at Genalysis Laboratory Services’ Adelaide facility using single stage pulverisation, and assayed at Genalysis Laboratory Services’ Perth laboratory. A 50g Fire Assay with atomic absorption spectrometry analysis technique (AAS) was used for gold.
All surface sample results were prepared by Genalysis Laboratory Services’ Perth facility using single stage pulverisation, and assayed at Genalysis Laboratory Services’ Perth laboratory. A 25g Aqua Regia digest with enhanced atomic absorption spectrometry analysis technique (AAS) was used for gold.
Sample quality control is achieved using standards, duplicates, repeats and blanks.
Where the Company has made reference to drill intersections in this announcement, it has interpreted these are at, or near, true widths.