Greatland Gold PLC (AIM:GGP) Ernest Giles Project – Meadows Drilling Campaign

Greatland’s drill campaign at Meadows area extends zones of gold mineralisation

Greatland Gold plc (LON:GGP), the precious and base metals exploration and development Company, announces that it has extended the zones of gold mineralisation at the Meadows area of its 100% owned Ernest Giles project in Western Australia, following a recent drilling campaign.

 

Meadows Drilling Campaign Highlights

· Extension of two previously identified large zones of gold mineralisation, including the Western Zone which has been extended to a strike length of approximately 6.2km and remains open to the north, and the Eastern Zone with an extended strike length of approximately 2.5km;

· Broad zones of consistently anomalous gold were apparent in many holes for up to 40m metres;

· Twelve of the twenty-five holes drilled returned anomalous gold (over 10ppb) in Archean basement, with highest individual result of 4m at 0.2g/t gold from 232m (ERC061);

· Results confirm and reinforce those from previous drill campaigns at Meadows with many holes displaying obvious signs of mineralisation including disseminated sulphides, quartz veining, and alteration including chlorite and epidote.

 

Gervaise Heddle, Chief Executive Officer, commented: “We are pleased with the results received from our recent drilling campaign at Meadows. The extension of the known zones of gold mineralisation at Meadows represents another step forward in advancing this early stage exploration project.

“The Company is in a very fortunate position of having six quality projects in its portfolio with a major drilling campaign ongoing at Havieron and results awaited from the 3D Induced Polarisation (“3DIP”) survey at Black Hills. We are looking forward to reviewing results from these campaigns before deciding on the next steps to deliver the most shareholder value from all projects across our portfolio.”

 

Meadows Drilling Campaign

Greatland embarked on a Reverse Circulation (“RC”) drilling campaign across the Ernest Giles project from June through August 2018 which focused on high priority gold targets at the Meadows, Wishbone and Empress areas, and a nickel sulphide target at the Carnegie area.

A total of 25 Reverse Circulation holes were drilled at Meadows over an area of approximately 7km by 6km for a total of 6,710m of drilling. Drill hole distribution was variable but, in general, the recent holes closed hole spacing from 1,600 x 800m to 800 x 800m still representing very early stage exploration work over a prospect area of approximately 10km by 5km. Drilling was carried out in an efficient manner with all holes reaching basement except one which was terminated in the cover sequence. Depth to top of prospective basement was changeable with shallowest encountered at 115m and deepest at 348m but averaged around 200m across the Meadows area.

Results confirmed and reinforced those from previous drill campaigns at Meadows with many holes displaying obvious signs of mineralisation including disseminated sulphides, quartz veining, and alteration including chlorite and epidote. Twelve holes returned over 10ppb gold in Archean basement including ERC037, ERC040, ERC041, ERC042, ER043, ERC46, ERC047, ERC048, ERC050, ERC053, ERC060 and ERC061. Broad zones of consistently anomalous gold (above 2ppb) were apparent in many holes for up to 40m metres and these are considered significant in a regional sense. Highest individual result was 4m at 0.2g/t gold from 232m (ERC061). This latest result extends mineralisation at Meadows further north of that previously identified, and the location of drill holes returning an elevated gold response in bedrock generally coincides well with the broader surface geochemical response.

Based on results returned to date two main zones of bedrock mineralisation have been outlined at Meadows. A Western Zone which has been extended to a strike of approximately 6.2km and open to the north, and an Eastern Zone with a strike of approximately 2.5km.

Drill results received to date will be further reviewed in a regional context along with airborne and surface data sets.

 

Overview of Ernest Giles Project

The Ernest Giles project is located in central Western Australia, covering an area of more than 2,000 square kilometres that includes over 230km of strike of gold and nickel prospective rocks. The area is covered by desert sands and sediments, making it virtually unexplored. The region is home to several successful exploration discoveries such as Tropicana, AngloGold (ASX: AGG), which contains over seven million ounces, and Yamarna/Gruyere, Gold Road Resources (ASX: GOR) and Gold Fields Ltd (NYSE: GFI), with over six million ounces. The Company is targeting large +5 million ounce deposits and clusters of several camp-type +1 million ounce gold discoveries at Ernest Giles.

Earlier drill programmes by the Company at Ernest Giles intersected gold mineralisation and large alteration systems in wildcat drilling of blind structural targets defined by airborne geophysics. This was considered a major achievement for such a large prospective area with virtually no historical work.

In late 2016, the Company completed a comprehensive broad spaced Reverse Circulation (RC) drilling programme at Meadows in the south-east of the project area which tested several large areas based on work completed by the Company and earlier work by Western Mining Corporation. This RC drill programme comprised 23 holes for 5,581m. Holes were drilled on a broad spaced grid pattern of 1,600m x 800m.

Mineralisation was observed in 13 of the 23 holes and several holes exhibited gold anomalous zones over tens of metres, peaking at 0.78g/t gold with mineralisation at end of hole. Two large zones of mineralisation were identified; Western 6km x 1.5km and Eastern 2km x 1.5km. Additional 1m sampling of several intercepts was undertaken to confirm preliminary results and better define mineralisation with many significant gold results returned up to 2g/t. Results confirmed mineralisation is present over a large area at Meadows and suggest that Greatland has discovered a new gold province in this largely unexplored region.

In late 2014, the Company completed a restricted programme of Mobile Metal Ion (“MMI”) surface geochemistry over several target areas which were outlined from interpretation of detailed aeromagnetics. Sample spacing was at a nominal 800m x 200m and results from this sampling were positive over the Meadows and Empress areas.

In May 2017, a detailed airborne survey was acquired over the northern sequences and the newly secured Ernest Giles East block which includes an 800 square kilometre area covering a 90km long north-south trending sequence of rocks that represents a continuation of the gold prospective greenstone sequence.

In June 2017, a comprehensive ground gravity survey was completed over parts of the Western licences at a station spacing of 1,600m x 200m. Data was collected over the Empress, Wishbone and greater Meadows area. The ground gravity data integrated with airborne magnetics highlighted several additional targets conducive to gold mineralisation at each of the areas surveyed.

During September 2017, Greatland completed its initial work over the Eastern block. The Eastern block, covering 800 square kilometres, represents an extension of the gold prospective Ernest Giles greenstone sequences. Work included broad spaced ground gravity and first pass MMI sampling. Gravity work was completed on a station spacing of 1,600m x 200m while MMI samples were collected on 3,200m x 400m centres.

MMI results outlined multiple gold anomalies over approximately 60km of strike. Many anomalies present as clusters of elevated responses over several adjoining east-west sample traverses with peak responses up to 1.3ppb gold (against a background of 0.0-0.1ppb). Several anomalies exhibit a strike length in excess of 9km and up to 3km wide. Ground gravity and detailed airborne magnetics confirms the MMI anomalies lie subparallel to the regional geological strike or within cross cutting structures displaying demagnetisation of bedrock geology.

Newmont Exploration Pty Ltd (“Newmont”) carried out a Deep Sensing Geochemistry (“DSG”) survey at the Ernest Giles project during 2017. DSG sampling was completed at the Meadows area and results successfully defined several gold anomalies, the most significant of which is large at approximately 5km long and 1.5km wide in the vicinity of previous Greatland drilling which had intersected gold mineralisation in Archean basement rocks under 100-200m of cover.

MMI sampling was completed at Ernest Giles during March and April 2018. Over 980 samples were collected at a spacing of 800m x 200m over the Meadows, Empress and Wishbone targets. At Meadows the MMI gold response was subtle but broadly outlines and reflect results of Deep Sensing Geochemistry by Newmont while at Empress results outlined several clusters of elevated gold responses over a strike of approximately 9km. Results from Wishbone showed an elevated gold MMI response across the target, particularly in the north-west and central eastern parts.

As announced on 22 June 2018, and continuing through July and August 2018, the Company embarked on a Reverse Circulation drilling programme across the Ernest Giles project. Drilling commenced at Empress, then progressed to Carnegie, Wishbone and finally Meadows. All drill holes were vertical. The drilling programme is now complete and all samples were periodically dispatched to the laboratory. Early results from drilling at the Empress, Carnegie and Wishbone targets were reported on 3 September 2018 where gold, silver and copper mineralisation was detected in basement at Wishbone.

Additional information on the Ernest Giles project can be found on the Company web site at www.greatlandgold.com/projects.

 

 

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