Warrentinna Drilling Results
Greatland Gold plc (the “Company”), the mineral exploration and development company focused on gold projects in Tasmania and Western Australia, announces results from drilling at its Warrentinna project in Tasmania.
Recent drilling has confirmed additional mineralisation at Derby North with results including 4m at 5.16g/t gold.
A program of Reverse Circulation (“RC”) drilling was completed at the Derby North prospect during April 2011. All RC holes were drilled to a maximum depth of 102m and angled at 60 degrees. Drilling comprised seven holes for a total of 701m. Drill hole collar details are presented in Table 1. Initial 4m composite sampling of all drill holes has been completed and results of these have been received.
Please refer to Table 1 – RC Collars in the PDF below.
Maximum result was 4m at 5.16g/t gold from 88m in hole WTR026 in a broader intercept of 24m at 1.79g/t gold from 76m, and 12m at 2.95g/t gold from 80m. This hole ended in mineralisation and remains open at depth. Substantial mineralisation was also intersected in hole WTR024 of 4m at 1.53g/t gold from 56m, within a larger intercept of 48m at 0.51g/t gold from 36m. Five of the seven holes intersected gold mineralisation. Significant results are presented in Table 2.
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 high grades occur.
Please refer to Table 2 – RC Drill Results (>0.2g/t gold) in the PDF below.
Single metre sampling of mineralised 4m composites will be completed in the coming weeks and results will be reported during the third quarter of the year. This re-sampling will better define the tenor and distribution of gold mineralisation at the Derby North prospect.
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:
“These preliminary results from Warrentinna are encouraging as they are of economic tenor at these relatively shallow depths. Mineralisation is broad with +20m wide intercepts within which higher grade shoots occur. Re-sampling of the holes will be a priority and we look forward to reporting further results from Derby North during the third quarter of the year. Joint Venture discussions are continuing with regard to our Tasmanian licences and we are aiming to update the market on this in the third quarter of the year also.”