New 3D gravity and magnetic models indicate potential for mineralisation at Havieron to extend further than previously expected to depths in excess of 1,200 metres
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the results of the latest geophysical modelling at its 100% owned Havieron licence in the Paterson region of Western Australia.
Geophysical models have been a fundamental component in the discovery of exceptional mineralisation at Havieron and these models are constantly being refined with the latest petrophysical information collected from wireline (downhole) logging and measurements taken from drill core. Further to the announcement of 14 February 2018, new 3D geophysical models of the Havieron target have been produced and are reported here.
Highlights of New Geophysical Models:
· New 3D gravity and magnetic models indicate that there is potential for mineralisation at Havieron to extend from approximately 400m below surface to depths in excess of 1,200 metres below surface;
· Modelling of gravity data outlines a large irregular shaped body, some 300m across, from approximately 400m below surface (top of basement) to 1,200m below surface with an overall subvertical attitude;
· Modelling of magnetic data defines a single, discrete, high amplitude elliptical shaped body that is steeply dipping (subvertical) toward the south east with a depth extent from around 800m below surface to approximately 1,400m below surface, but the body may continue beyond 1,400m as this is the current limit of data resolution;
· A comparison of 3D gravity and magnetic models shows an approximate 500m vertical and 200m lateral offset between the causative bodies, which may be important for targeting if Havieron displays affinities with an iron-oxide-copper-gold (“IOCG”) system.
Gervaise Heddle, Chief Executive Officer, commented: “We are very excited by the results of the latest geophysical modelling which suggest that Havieron has the potential to represent a significantly larger mineralised system than we previously expected. Our excellent recent drilling results only tested to approximately 800 metres below surface and elevated gold and copper persisted to the end of several holes, suggesting that mineralisation continues at depth below the current limit of drilling.
“Havieron is a conspicuous ‘bulls-eye’ magnetic anomaly, as seen in airborne data sets. There are more than twenty magnetic anomalies similar to that observed at Havieron within Greatland’s Paterson licences and, in light of the exceptional mineralisation at Havieron, these represent compelling regional exploration targets.”
Greatland’s drilling campaigns at Havieron have yielded excellent results to date, including:
· 121m at 2.93g/t gold and 0.23% copper from 497m (HAD001).
· 21m at 3.79g/t gold 0.44% copper from 418m (HAD003).
· Combined intercept of 275m at 4.77g/t gold and 0.61% copper, including an upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m and a lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m (HAD005).
Greatland’s second drilling campaign at Havieron is ongoing and further analytical results are awaited.
A regional map showing the Havieron licence area with regional targets and adjacent landholdings can be found at: http://greatlandgold.com/paterson/
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