Operational Update – Ernest Giles 1m Results
Greatland Gold plc (AIM:GGP), the gold focused mineral exploration and development company based in Australia, announces further results from drilling activities at the Ernest Giles gold project in Western Australia. The results reveal higher grade gold values than previously reported.
Ernest Giles Project Project (gold), Western Australia
The Ernest Giles project comprises three contiguous tenements covering an area of 948sq km in Central Western Australia. It is located in the north-eastern goldfields region which is host to many large, plus 1m oz, gold deposits such as Wallaby, Sunrise Dam and Granny Smith.
Four reverse circulation (RC) holes were completed in the past months (ERC001-ERC004) and collar details are presented in Table 1. Holes were initially sampled as 4m composites and results from these confirmed mineralisation in hole ERC002.
Table 1 – Ernest Giles RC Drill Hole Collar Details
Single metre re-sampling of ERC002 was recently completed and results have been received by the Company. Highest result returned was 1m at 1.28g/t gold from 149m. This is a considerable increase on the initial composite results of 4m at 106ppb Au from 149m. Repeat samples confirm the tenor of the 1m samples to be correct. Other 1m samples from ERC002 reported up to 50ppb gold.
This result is significant from an exploration point of view coming from what is a new gold prospective terrain yet to be fully explored. The 1m result of 1.28g/t gold is modest but supported by 0.7m at 0.45g/t gold in EGD004 some 500m away. The Company’s exploration model, of gold in structurally altered Archean Banded Iron Formation and Mafic Rock, as at Mt Magnet in Western Australia (+5million oz), has been now been confirmed over a potential strike length of at least 500m.
The Company will review all drill results in detail in the coming weeks. It will look to trial regional and prospect scale airborne and/or ground geophysical techniques to assist with targeting. Geochemical sampling will also be trialed. A detailed structural and lithological interpretation of the greenstone sequence in the south of the project area will be commissioned. Recommendations from these reports will be used to direct future efforts at Ernest Giles.
Callum Baxter, CEO of Greatland Gold, commented:
“The 1.28g/t grade of this 1.0m sample is very encouraging as, together with the alteration in the core, it confirms the presence of a mineralised system at Ernest Giles. Although not yet at levels to be considered economic, our exploration model has been confirmed. It’s a great opportunity for the Company. We are targeting big, multi-million ounce, gold deposits and will continue with work to unlock the potential of the Ernest Giles project.”