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.
Analyses of single metre mineralised intercepts have been received with results including 2m at 10.64g/t gold.
As previously announced a program of Reverse Circulation (“RC”) drilling was completed at the Derby North prospect earlier this year. All RC holes were drilled to a maximum depth of 102m and angled at 60 degrees. Drill hole collar details are presented in Table 1. Initial 4m composite sampling of all drill holes has been completed and results reported during May. A copy of the Derby North Drillhole Plan can be downloaded from the following web address:
Single metre sampling of mineralised 4m composites has now been completed and results received.
Please refer to Table 1 – RC Collars in the PDF below.
The highest single metre result (unaveraged) was 15.94g/t gold from 89m in hole WTR026 in an overall intercept of 3m at 9.34g/t gold from 89m including 2m at 10.64g/t gold from 89m. Significant results are presented in Table 2.
Please refer to Table 2 – RC Drill Results (>1.0g/t gold) in the PDF below.
It has been noted that hole WTR026 bottomed in mineralisation at 100m and remains open at depth. Also WTR026 lies adjacent to WTR013 previously drilled by the Company that intersected 5m at 29.26g/t gold from 36m. Initial interpretation of results suggests that drilling has intersected an east plunging high grade shoot which remains open at depth.
All drillhole data will be merged into the Company’s database and modelled. The likely plunge of the high grade shoots will be determined and identified as future drill targets.
Callum Baxter, CEO, commented: “Ongoing high grade results from Warrentinna are welcome and the Derby North area has the potential to add open pittable ounces to the Company’s resource base. To advance the property our current preferred option is via a Joint Venture arrangement with a third party. The Company will actively seek a suitable partner. The board is aware of the current market volatility which may persist in the near term. The Company has approximately £1m cash at hand to continue operations.’