Anomalous gold mineralisation and pathfinder geochemistry confirmed and geological model refined at Meadows Prospect
Greatland Gold plc (AIM: GGP) is pleased to advise that the WA Government Exploration Incentive Scheme (EIS) co-funded drilling program has been successfully completed and all assays returned at the Meadows gold prospect within the Company’s 100% owned Ernest Giles project (Ernest Giles).
Highlights
- Two diamond core (DD) holes completed for 1,267.7m
- Anomalous mineralisation of 8m @ 0.12g/t Au from 316m returned from EGD006, associated with alteration and anomalous pathfinder geochemistry.
- Drilling results provide important geological and structural information to inform a systematic reverse circulation drill program planned for this year to systematically test highly prospective targets at Meadows prospect.
- Ground induced polarization (IP) survey planned for later in 2024 to further refine targets, along with further airborne geophysics.
Greatland Managing Director, Shaun Day, commented:
“Completing the Land Access Agreement and EIS co-funded drilling at Ernest Giles is a significant milestone for the project, marking the first on-ground exploration in over five years.”
“Ernest Giles is an exciting 100% owned project that sits outside our strong foothold in the Paterson region, in an underexplored Archean greenstone belt that hosts many Tier 1 deposits.”
“These initial results are encouraging and confirm the prospectivity of the project. The results will inform further exploration work, including a more extensive drilling program this year.”
Completed drilling program
The two completed EIS co-funded diamond core drill holes EGD005 & EGD006 provided the first angled diamond holes and oriented core at Meadows, critical for improving the geological understanding of the project and guiding future targeting.
Figure 1: EIS drilling at Meadows with interpreted geology on airborne magnetics
Drilling confirmed that gold anomalism is hosted within altered basalts, banded iron formation (BIF) and syenite (Figure 1). The mineralised zone of 8m @ 0.12g/t Au from 316m in EGD006 is associated with thin quartz – carbonate veinlets in silica-sericite-chlorite and albite alteration in the basalt host (Figure 2). Hematite alteration was also observed. The syenite intersected in EGD005 shows gold is associated with disseminated pyrite with silica-sericite, albite and hematite alteration and quartz-carbonate veining.
Figure 2: EGD006 320-324m Mineralised intercept, with silica-sericite-chlorite alteration and veining
The results indicate an encouraging broad, weak (Au-Ag-Cu-Zn) mineralisation. This could be the edge of a larger system. The anomalism is geologically controlled by generally east-dipping vein sets and vein-associated alteration. A correlation was noted between the weak gold-silver mineralised intercepts, geochemically anomalous, low order bismuth (Bi) values and the chlorite-carbonate alteration zones. The peak Cu value of 1,178ppm from 390.2m in EGD006 was in a highly sulphidic altered BIF unit. These associations can be used to better target further drilling.
Further work
A follow up RC drilling program is being designed for H2 2024, utilising the information gained from the recently completed drilling, and historical drilling results, to systematically test highly prospective geological targets in the Meadows prospect, with a focus on mineralised fluid pathway elements and an in-depth review of the alteration across the prospective folded BIF system in the South Meadows target area.
A detailed ground induced polarization (IP) survey is being planned for later in 2024 to refine the targeting approach. The target shear hosted Archean gold systems regularly have an associated alteration system that includes disseminated sulphides. The IP survey involves a number of electrical receivers at surface recording the response created by a generator transmitting electrical current into the ground. This electrical charge accumulates on the surface of the individual sulphide grains, and when the generator is turned off the sulphides slowly discharge (similar to a battery) and the receivers at surface record this signal. The more and finer grained sulphides in the alteration system, the stronger the signal received at surface.
The IP survey allows rapid cost effective identification of sulphide haloes around orebodies. Additional ongoing work will also include airborne geophysics to better understand the geology of the entire Ernest Giles belt.
Overview of the Ernest Giles Project
The Ernest Giles project is located approximately 250km north-east of the town of Laverton and covers a folded belt of magnetic greenstone rocks (Figure 3) which is typical of the highly gold and nickel endowed parts of the Archean Goldfields of Western Australia. The Goldfields host large gold camps such as Kalgoorlie, St Ives, Leonora, Laverton, Mt Magnet, Jundee, Gruyere and Tropicana. The prospective greenstone sequence at Ernest Giles does not outcrop and, as a consequence, is underexplored relative to the remainder of the Goldfields.
Greatland’s granted and under-application tenure at Ernest Giles comprises a comprehensive holding over what Greatland considers are the most prospective near surface portions of the Ernest Giles belt, covering more than 1,950km2.
Figure 3: Laverton, Yamarna and Ernest Giles greenstone belts
Contact
For further information, please contact:
Greatland Gold plc
Shaun Day, Managing Director | info@greatlandgold.com
