Preliminary results from initial four drill holes with first gold identified at Goliath
Greatland Gold plc (AIM:GGP), a leading development and exploration company with a focus on tier-one gold-copper deposits, is pleased to announce the first set of preliminary drill results from the initial 2021 drill programme at its Juri Joint Venture (“Juri JV”) with partner Newcrest Mining Limited (“Newcrest”) in the Paterson province of Western Australia. Results have been received for the first four holes sampled from the nine drill holes completed.
§ First phase of Juri JV drilling programme completed on the Paterson Range East and Black Hills tenements, forming the Juri JV with Newcrest
§ Gold assays from first four assayed holes of Juri JV drill programme
§ At the Saddle Reefs target within the Black Hills licence an intersection of 3.5m @ 1.88g/t Au from 226.5m
§ First gold identified at the GoliathProspect including a significant assay of 1.0m @ 1.49g/t Au from 651m
§ Assays for the remaining holes from Los Diablos, Parlay and Saddle Reef and sections of the Outamind hole expected for October 2021
§ Ground Electro-Magnetic (“Ground EM”) survey due to commence in September to further refine and model various Juri JV targets
The first phase of drilling comprised nine holes for 4,958 m testing five targets including five holes at the Goliath, Outamind and Los Diablos targets on the Paterson Range East licence and four holes at the Parlay and Saddle Reefs targets on the Black Hills licence.
Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: “We are delighted to receive the first set of results from the maiden drilling campaign under our Juri JV with Newcrest. Intercepting gold mineralisation from our initial assays is an excellent result. Greatland will now recalibrate our Juri JV targets based on this initial information as well as the assays pending from the five remaining drill holes and combined with the new proposed Ground EM survey.
“These initial results build confidence regarding the prospectivity of the assets under the Juri JV. With Newcrest funding the exploration programme, our Juri JV programme presents an opportunity to deploy our proven expertise and potentially deliver further exploration upside for our shareholders.”
In addition to this release, a PDF version of this announcement with supplementary information can be found at the Company’s website: www.greatlandgold.com/media/jorc/
Greatland Gold PLC
+44 (0)20 3709 4900
Further Information on the Juri JV Drill Programme
Greatland Gold’s first phase of drilling (reverse circulation and diamond core drilling) has been completed on the Paterson Range East and Black Hills tenements, forming the Juri JV with Newcrest.
This first phase of drilling comprised nine holes for 4,958 m testing five targets including five holes at the Goliath, Outamind and Los Diablos targets on the Paterson Range East licence and four holes at the Parlay and Saddle Reefs targets on the Black Hills licence.
Gold and some multi-element assays have been received for the Goliath and Outamind holes, and gold and multi-element assays returned for a strongly altered mineralisation zone logged in the first Saddle reefs hole BHD001. Assays for the remaining holes from Los Diablos, Parlay and Saddle Reef are expected for October 2021.
At the Saddle Reefs target within the Black Hills licence a strongly silica-carbonate-albite-sericite altered and quartz-pyrite veined zone in Yeneena Formation metasediments was logged from 226m – 239m in drill hole BHD001. Assays reported an intersection of 3.5m @ 1.88g/t Au from 226.5m (incl. 1.4m @ 3.49g/t Au from 227.6m) from the quartz – pyrite vein stockwork zone within the larger alteration halo. A strong silver- arsenic- cobalt- antimony- bismuth pathfinder metal association was noted throughout the zone, with minor copper – molybdenum anomalism also identified. Structural analysis suggests the quartz-pyrite veins form an array of flat veins within a bedding parallel envelope, representing reef style mineralisation. The results are encouraging as mineralisation style and metal affinities are similar to reef style veins in the nearby Telfer deposit.
A further two holes were drilled at Saddle Reefs and Saddle South to follow up historical anomalous RC assays (Black Hills – Positive Final Drill Results & New Geophysical Targets, Greatland RNS dated 14 November 2019), testing the concept of multiple mineralised zones between different beds and the anomalous gravity and IP geophysical responses. All assays are awaited.
At the GoliathProspect significant widths of calc-silicate sediments, probably of the Puntapunta formation, were intersected in GLD001A, in contact with the granitoid and other more mafic intrusive rocks. A significant assay of 1.0m @ 1.49g/t Au was recorded from 651m within the interfingered intrusive – sediment contact zone and associated with narrow zones of probable albite alteration. Detailed understanding of the geological context and significance of the drilling results will be possible when the full suite of low-level multi-element geochemistry assay results have been received and interpreted.
Gold assays have been returned from the Goliath and Outamind hole, with some multi-element results from OMD001W. The remaining gold and multi-element assays for these and both Los Diablos holes are expected in the coming month.
A ground Electro-Magnetic (“Ground EM”) survey has been planned to further refine and model various Juri JV targets as defined in the 2020 heliborne EM (“AEM”) survey. This programme is due to commence in September. The programme is designed to confirm the AEM targets reported previously (“Work Programme agreed for the Juri Joint Venture with Newcrest Mining”, Greatland RNS dated 23 February 2021) and better define drill targets over these anomalies.
Strong conductors have been defined at the A9, A11, A14 (Tara) and A25 (Tama) targets on the Paterson Range East licence, and AEM targets A26, A27, A31 and A30 (Parlay Nth) were generated on the Black Hills licence.
Additional information can be found at the Company’s website: www.greatlandgold.com/media/jorc/
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a leading development and exploration company with a focus on tier-one gold-copper deposits. The Company’s flagship asset is the world-class Havieron gold-copper deposit in the Paterson region of Western Australia, discovered by Greatland and presently under development in Joint Venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest’s Telfer gold mine and, subject to positive decision to mine, will leverage the existing infrastructure and processing plant to significantly reduce the project’s capital expenditure and carbon impact for a low cost pathway to development. An extensive growth drilling programme is presently underway at Havieron with a Pre-Feasibility Study due for release in late calendar 2021. Construction of the box cut and decline to develop the Havieron orebody commenced in February 2021.
Greatland has a proven track record of discovery and exploration success. It is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. The Company is focused on safe, low-risk jurisdictions and is strategically positioned in the highly prospective Paterson region. Greatland has a total six projects across Australia with a focus on becoming a multi-commodity mining company of significant scale.
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.
Terms of Website Use
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned