Results provide further evidence of the potential for intrusion-related mineralised systems at Scallywag, confirming the area’s prospectivity and meriting further exploration
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces the results of the remaining four drill holes from the 2020 drilling campaign at its 100% owned Scallywag licence. The Company has identified multiple new targets to conduct further drill testing. Greatland’s 2021 drilling in the Paterson is expected to commence in the coming weeks.
The Scallywag drill programme reported here is the first stage of an extended drilling programme across Greatland’s 100% licences and the Juri Joint Venture. During 2020 a total of seven drill holes were completed for 3,761m testing targets at the Kraken, London and Blackbeard prospects. Assay results have now been received for the remaining four holes (LOD002, LOD003, KRD002 and KRD003) in addition to the results of the first three holes released on 20 January 2021.
Highlights of 2020 Drill Results
§ Drill results provide further evidence of pathfinder element anomalism potentially distal to intrusion-related mineralised systems, and potentially along strike of the current drilling
§ At the Kraken target, assay and logging confirm the intersection of prospective target lithologies and pathfinder element anomalisms including silver, copper, bismuth and lead
New Targets Identified
§ Ongoing geological interpretation, assisted by drill information and regional aeromagnetics, has identified multiple new targets within the Scallywag licence
§ New targets include “Architeuthis”, a 600m long magnetic anomaly located 1km north of Kraken and 9km north-west along strike of Havieron, and which may represent primary mineralisation along the Scallywag Synform
High Grade Anomaly
§ At the London target, initial sample results reported very high-grade intercepts of silver, copper and tungsten results (872ppm Ag, 1137ppm Cu and >2000ppm W) in the interval 349.0 – 350.0m in LOD003
§ These results were suspected to be contamination. Accordingly, prior to public release, check resampling and analysis was undertaken of washed 1/4 core and the results confirmed (Appendix II, “Check” sample phase results). Notwithstanding the confirmation, it remains probable that the interval may be caused by contamination and not representative of the rock mass. The Company intends to confirm whether this may be the result of downhole contamination with follow up drilling scheduled for the upcoming drill programme
Next Steps
§ A staged exploration programme is set to methodically drill test a series of targets based on modern geological, gravity, magnetic and recently collected airborne EM datasets
§ Targets within the 100% Scallywag licence include the Swan, Teach and Architeuthis. Targets within the Juri JV include the existing Goliath, Outamind, Los Diablos and Parlay, plus newly defined AEM targets within the Black Hills area, and Tama, N5 and A9 in the Paterson Range East area
§ Drilling is expected to be ongoing throughout the 2021 and 2022 field seasons
Shaun Day, Chief Executive Officer of Greatland Gold plc, commented:
“We may only be in the first stages of an extensive drilling programme, yet these results provide further evidence that the Scallywag licence is prospective for intrusion-related mineralised systems. In particular, it is very pleasing that initial targets have once more intersected pathfinder elements associated with systems seen nearby at Havieron and Telfer, and regionally at Winu.
“Greatland has established a proven approach to exploration that brought it much success at Havieron: drill selective targets, analyse the information and refine targets to unlock value from our projects. With these encouraging initial drill results, we now have a significantly enhanced understanding of Scallywag’s geology and have been able to identify multiple compelling targets that merit follow-up drilling in the coming weeks and months, particularly Swan, Teach and Architeuthis. These will form an important part of the comprehensive exploration campaign we are conducting across our 100% licences and our Juri Joint Venture.”
In addition to this release, a PDF version of this report with supplementary information can be found at the Company’s website: www.greatlandgold.com/media/jorc/
Further Information on Drilling Results from Scallywag
The Company completed a total of seven holes for 3,761m at Scallywag during the 2020 field season, testing targets at the Kraken, London and Blackbeard prospects. Exploration work at Scallywag is focussed on the discovery of intrusion related gold-copper deposits such as Havieron, Telfer and Winu.
The 2020 Scallywag drill programme was designed to test a series of Induced Polarisation (‘IP’), magnetic altered or demagnetised geophysical targets located around the closure and limbs of the Scallywag Syncline, a tight fold structure located to the west of the Havieron discovery. The Syncline folds a package of Puntapunta Formation calcareous sediments and overlying Wilki Formation siliciclastic sediments, with a prominent magnetic anomaly marking the contact between the two units. The Puntapunta Formation sediments host the Havieron Au-Cu system on the east limb of the Scallywag Syncline, some 8.5km east south east of the fold nose or closure of the Syncline.
Three targets have been tested by seven drill holes, of which results for the last four drill holes are reported today: KRD002 and KRD003 on the Kraken prospect, and LOD002 and LOD003 around the London prospect, for 1,842m of drilling. Results for the first three drill holes (BLD001, KRD001 and LOD001) were reported in January 2021 (“Initial Scallywag Drill Results and New Targets Identified”, dated 20/1/2021).
Kraken
The Kraken target comprises a combined magnetic and IP anomaly located near the nose of the Scallywag Syncline.
Designed to test the Kraken magnetic anomaly hole, KRD002 was drilled to a total depth of 504.5m, intersecting Wilki Formation quartz rich sediments overlying Puntapunta Formation calcareous sediments beneath the base of Permian at 256.8m downhole (all depths are reported as downhole depths). The magnetic anomaly is sourced in the basal Wilki and upper Puntapunta calcareous rocks. No significant gold or copper intersections are reported, although anomalous pathfinder elements (including silver, bismuth, copper and lead) are reported locally. Anomalous results are listed in Appendix I. The maximum gold assay of 0.112ppm Au over 0.5m from 249m is hosted in the Permian cover.
Holes KRD003 was drilled to a total depth of 468.8m, testing the nose of the Scallywag Syncline, and intersected basement Puntapunta Formation calcareous sediments including magnetic units, beneath the base of Permian at 231.3m. Anomalous results are listed in Appendix I.
London
The London target comprises an IP anomaly located on the edge of an interpreted granite body (gravity low) intruding along the magnetic east limb of the Scallywag Syncline and displaying potential demagnetisation or apparent truncation of the magnetic Wilki Formation sedimentary unit. The IP anomaly could represent skarn type mineralisation on or near the edge of the interpreted granite body.
LOD002 was drilled to a total depth of 414.9m and intersected basement Wilki Formation quartz rich siliciclastic sediments below 307.1m of Permian cover. No anomalous results were reported.
LOD003 was drilled in the core of the Scallywag Syncline, testing an IP target near the interpreted axial plane of the Syncline. The drill hole intersected Wilki Formation sediments below base of Permian at 284.7m. Initial sample results reported very high silver, copper and tungsten results (872ppm Ag, 1137ppm Cu and >2000ppm W, as listed in Appendix II, “Initial” sample phase results) in the interval 349.0- 350.0m, hosted in quartzite but including a 10cm interval of clay, apparently located at the end of a drill run.
There is a risk that this high-grade intercept is downhole contamination. Accordingly, prior to public release, check re-sampling and analysis was undertaken of washed 1/4 core. This re-sampling confirmed the very high silver, copper and tungsten results (Appendix II, “Check” sample phase results), but with the high-grade sample now restricted to the interval of clay postulated to be at the end of the drill run. It is probable that this material is contamination. The silver-copper-tungsten metal association can be typical of drilling tools with tungsten carbide teeth and silver solder sourced from a broken drill bit introduced into the drill hole. Therefore, the interval may not be representative of the rock mass. The Company intends to confirm whether this is actual mineralisation, or a result of downhole contamination, with a follow-up drill hole during the 2021 field season.
Summary of Drilling Results and Conclusions
The assay results from the four holes presented above are consistent with the first three drill holes, intersecting prospective lithologies (Puntapunta Formation) and pathfinder element (silver, copper and bismuth) anomalism, potentially the distal signature of intrusion related mineralised systems. Follow-up drilling is recommended to test for further development of brecciated and mineralised lithologies, in particular along strike at the “Teach” target, and at the newly defined “Architeuthis” magnetic target, described below.
These results and targets will be further assessed and ranked against the multiple targets within the Company’s 100% owned ground and Farm-in/JV areas. Drilling of the Company’s many existing targets, including targets identified in the 2020 airborne EM survey, is planned to commence in the coming weeks.
New Magnetic Target “Architeuthis” and Future Drilling Plans
Ongoing geological interpretation, assisted by drill information and regional aeromagnetics, has identified a new target within the Scallywag licence named “Architeuthis”. Located in the hinge of the Scallywag Syncline, Architeuthis comprises an elongate, probably tabular north east trending and west south west dipping magnetic anomaly, around 600m long, hosted in Puntapunta Formation rocks. The anomaly is in a similar stratigraphic position to Havieron but located around 9km to the north west along strike. The magnetic anomaly has a footprint of around 600m x 150m. Architeuthis may represent primary mineralisation along the Scallywag Synform providing the possible distal mineralisation and pathfinder element response as seen in the 2020 Scallywag drilling.
Additional drill hole information is presented in Appendices I, II, III and IV. Drill hole collar locations are shown in Figure 1.
The Scallywag drill programme comprises the first stage of an extended drilling programme across Greatland’s 100% Scallywag licence and the Juri Joint Venture (Greatland 75%; Newcrest 25% with the right to earn 75%). Greatland’s future work comprises a staged exploration programme designed to methodically drill test a series of targets based on modern geological, gravity, magnetic and recently collected airborne EM datasets. Targets within the 100% Scallywag licence include the Swan, Teach and Architeuthis targets. Targets within the Juri JV include the existing Goliath, Outamind, Los Diablos and Parlay, plus newly defined AEM targets within the Black Hills area, and Tama, N5 and A9 in the Paterson Range East area. Drilling is expected to be ongoing through the 2021 and 2022 field seasons.
A regional map showing the Havieron licence area with regional targets and adjacent landholdings can be found at: www.greatlandgold.com/paterson
Competent Person:
Information in this announcement pertaining to Reporting of Exploration Results has been reviewed and approved by Mr John McIntyre, a Member of the Australian Institute of Geoscientists (MAIG), who has more than 30 years relevant industry experience. Mr McIntyre is a full-time consultant to the Company and has no financial interest in Greatland Gold plc or its related entities. Mr McIntyre has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules – Note for Mining and Oil & Gas Companies, which outline standards of disclosure for mineral projects. Mr McIntyre consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr McIntyre confirms that the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that the form and context in which the information has been presented has not been materially modified.
Additional information on the project can be found on the Company’s website at www.greatlandgold.com/paterson/
In addition to this release, a PDF version of this report with supplementary information can be found at the Company’s website: www.greatlandgold.com/media/jorc
