Firetower and Warrentinna Project Update

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Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce an update on upcoming activities for its Warrentinna and Firetower gold projects in Tasmania, Australia. 

Highlights

·     New drilling programme at Warrentinna gold project to test for extensions to gold mineralisation along strike and at depth at Derby North prospect;

·     Warrentinna programme of work includes plans for six RC holes for approximately 600 meters of drilling that will follow up on previous intercepts including26m@2.32g/t Au and 5m@29.26g/t Au;

·     After extensive internal review, Greatland will also commence a range of basic field activities targeting two relatively underexplored areas at the Firetower gold project;

·     Key objective of the activities at Warrentinna and Firetower projects is to extend the company’s knowledge of the mineralised systems, both of which have demonstrated the presence of high grade gold in historic drill results.

Callum Baxter, Executive Director, commented: ‘We are pleased to begin a more active phase of exploration at Greatland’s Tasmanian gold projects. The Warrentinna and Firetower gold projects both possess significant upside exploration potential and we believe that, given the current gold price environment, now is the right to take a more aggressive approach to exploration on these projects.

We would like to take this opportunity to remind our shareholders that historical drilling has intercepted high grade gold mineralisation at both projects, including26m@2.32g/t Au and 5m@29.26g/t Au at the Warrentinna project, and 29m@2.39g/t Au and 17m@5.37g/t Au at the Firetower project.

We will announce further developments at both projects, including the commencement of drilling at Warrentinna, in due course.’

Warrentinna Project, Tasmania

The Warrentinna project is located in north east Tasmania and covers an area of 37 square kilometres. Drilling completed by the Company to date has significantly enhanced the project returning robust gold grades and displaying continuity of mineralisation at the Derby North prospect.

It is intended to drill further holes to track mineralisation along strike and at depth at Derby North. Also, additional holes will be drilled at other prospects within the licence area to test outer lying targets which have not been subject to drilling to date but would further enhance the project if significant mineralisation was located.

The total number of holes and metres to be drilled will be dependent on results received and mineralisation intersected, but will initially consist of approximately 6 RC holes for 600m.

The project consists of one licence for ease of administration and Greatland retains 100% equity in the project.

Firetower Project, Tasmania

The Firetower project is located in central north Tasmania and covers an area of 62 square kilometres. Gold and copper mineralisation has been identified within the project area.

The company has completed an internal review of the project and determined the key areas requiring attention to advance the project. From this it has been recognised that the western portion of the main mineralised area at Firetower shows much potential but has not been subject to intensive exploration due to steep terrain. Here it is intended to complete detailed gridding, rock chip sampling and mapping with a view to generating drill targets for deeper drilling.

Additionally a new area has been identified from detailed airborne geophysical data with radiometric and magnetic signatures similar to the main Firetower mineralisation. This will be subject to first pass geochemistry and geological reconnaissance.

The two remaining licences have been consolidated into one for ease of administration without reducing the project area and keeping our 100% equity in the project.

Further details of field activities will be announced in the coming weeks.

Additional information on the Firetower and Warrentinna projects can be found on the Company web site at www.greatlandgold.com/projects

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