Positive Results from Drilling at Warrentinna Gold Project
Greatland Gold plc, the mineral exploration and development company based in Australia, is pleased to announce further encouraging results from drilling activities at the Warrentinna gold project (“Warrentinna”) in Tasmania.
• All 3 holes intersected gold mineralisation above 1.9g/t gold, including o 10m at 2.28g/t gold from 90m in hole WTR032 o 1m at 5.48g/t gold from 95m in hole WTR032
• Further potential of depth extensions
Callum Baxter, CEO, commented: “These results better define mineralisation and confirm further potential of depth extensions at Warrentinna, which is a key project for Greatland Gold. We remain committed to our plan to establish resources across our portfolio of assets, and these results are another step in the right direction”
Warrentinna Project (gold), Tasmania
A program of Reverse Circulation (“RC”) drilling was completed at the Derby North prospect during December 2013. All RC holes were drilled to a maximum depth of 100m and angled at 60 degrees. Drilling comprised three holes for a total of 300m. Drill hole collar details are presented in Table 1. Initial 4m composite sampling of all drill holes were reported in January 2014. Single metre sampling has recently been completed and results are reported here.
Table 1 – RC Collars
All co-ordinates AGD66-Zone55
The maximum result from single metre sampling was 1m at 5.48g/t gold from 95m in hole WTR032 in a broader intercept of 10m at 2.28g/t gold from 90m. Also in WTR032 was 5m at 2.00g/t gold from 33m including 2m at 3.17g/t gold from 35m. WTR032 bottomed in mineralisation which is presumed to extend at depth. WTR031 returned 4m at 1.37g/t gold from 37m downhole, and WTR033 returned best of 1m at 2.01g/t gold from 85m. All three RC holes intersected gold mineralisation above 1.9g/t gold. Results are presented in Appendix I.
Gold mineralisation is coincident with quartz vein structures and disseminated sulphides. Drilling to date covers a strike length of 150m and has established a 100m wide, north-south trending, zone of gold mineralisation within which quartz reefs with higher gold grades occur.
Further review of drill results will be carried out in the coming weeks and provision for additional drilling will be incorporated into the work programme for Q3 2014.