Positive Drilling Results at Warrentinna Gold Project
Greatland Gold plc, the mineral exploration and development company based in Australia, is pleased to announce positive results of drilling activities at the Warrentinna gold project (“Warrentinna”) in Tasmania, Australia.
- All holes intersected gold mineralisation above 1.32g/t gold, including:
– 1m at 19.77g/t gold from 71m in hole WTR028
– 26m at 2.32g/t gold from 5m in hole WTR028
- 1m results received for samples from RC drilling at Derby North prospect; interpreted new lode at Derby North enhances this area as a potential open pittable resource
Callum Baxter, CEO, commented:
“These are very positive results and are a step forward in our plan to establish resources across our portfolio of assets. We will continue to review this data in the coming months as we plan for our drilling programme in Q4 2013. This is in line with the Company’s aim of targeting highly prospective areas for multi-million ounce orebodies.”
A program of Reverse Circulation (“RC”) drilling was completed at the Derby North prospect during late 2012. 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. Details of drill hole collars are presented in a previous announcement dated 19 February 2013. Single metre re-split sampling has been completed and results are reported here.
The maximum result was 1m at 19.77g/t gold from 71m in hole WTR028 which repeated at 21.83g/t gold. A broad zone of shallow mineralisation was also intersected in hole WTR028 of 26m at 2.32g/t, which included a substantial intercept of 11m at 4.24g/t gold from 9m downhole. The mineralisation intersected in WTR028 is interpreted as a new lode not previously intersected.
All three RC holes intersected gold mineralisation above 1.32g/t gold. Silver mineralisation above 1g/t was also present in hole WTR28, peaking at 2.5g/t. 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 high grades occur.
The Company will review all available data and plan for further drilling in Q4 2013.