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Greatland Gold PLC (GGP.L) Work Programme agreed for Juri JV with Newcrest

Work Programme agreed for the Juri Joint Venture with Newcrest Mining

Initial drilling to focus on high priority targets Los Diablos, Goliath, Outamind and Parlay

Multiple compelling additional targets identified across the Paterson Range East and Black Hills licenses

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces the initial 2021 work programme for the Juri Joint Venture (“Juri JV”), including drilling of several targets within the Paterson Range East and Black Hills licences.

Multiple additional targets within the Juri JV have been identified following analysis of results of a heliborne Airborne Electromagnetic (“AEM”) survey conducted last year and further geological interpretation of regional aeromagnetics. Exploration work at the Juri JV is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

2021 Juri JV Work Programme

First round of drilling of high priority targets across the Paterson Range East and Black Hills licences, including Los Diablos, Goliath, Outamind and Parlay, expected to commence by early April.
Ground electromagnetics (“EM”) surveys to be conducted over several new targets identified following interpretation of AEM data to better locate and prioritise targets.
Camps and infrastructure are being established with field activities scheduled to commence in the coming weeks.

Additional targets identified

Analysis of results from a Heliborne AEM geophysical survey conducted last year has identified multiple new conductors within the Juri JV including:

A11 – a moderate amplitude anomaly located along or adjacent to the major province scale Anketell-Samphire Fault.
A25 (“Tama” Prospect) – a strong, apparently flat lying conductor, interpreted to represent a supergene horizon developed in or over an intermediate to mafic pipe intruding granite .

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: “It is with great excitement that we announce plans to begin exploration under our second joint venture with Newcrest in the Paterson region. Drilling will commence in the coming weeks at our Paterson Range East and Black Hills licences, testing the high-priority targets Parlay, Goliath, Outamind and Los Diablos. The joint venture will also look to progress several additional compelling targets that have emerged following analysis of geophysical data. We entered the Juri JV to accelerate our exploration activity and maximise value of the Paterson Range East and Black Hills licences and this initial 2021 work programme is an important step towards achieving that goal.

“The Juri JV campaign forms part of our multi-pronged exploration strategy for 2021 in the highly prospective Paterson region. As Juri JV drilling gets underway, this will complement the ongoing work at Havieron with 65,000m of growth drilling planned in the next six months together with our exploration activities at our 100% licences across the region.”

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 the Juri JV Work Programme and new airborne electromagnetic targets

The Juri JV comprises the Paterson Range East and Black Hills licences covering an area of approximately 249 square kilometres in the Paterson region of north-western Australia. The Farm-In commenced on 30 November 2020. Newcrest Mining Limited (Newcrest) has the right to earn up to a 75% interest in the licences by spending up to A$20m as part of a two stage Farm In over five years. Stage 1 minimum commitment by Newcrest is A$3m within 24 months of commencement, and Stage 2 commitment contemplates an additional A$17m over a further three years (total A$20m over five years). Newcrest currently hold a 25% interest in the JV.

Greatland will be the manager of the Juri JV until the end of calendar 2021 when Newcrest has the right, but not the obligation, to be appointed manager at the end of that initial period.

Exploration work at the Juri JV licences is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

The 2021 Work Programme for the Juri JV will include the following activities as agreed by the Juri JV partners:

Drill testing of several high-priority targets across the Paterson Range East licence, including Goliath, Outamind and Los Diablos.
Drill testing of the Parlay target, a discrete magnetic anomaly with coincident gravity response in the south-west of the Black Hills licence.
Ground EM surveys to better locate and prioritise multiple additional targets through Paterson Range East and Black Hills licences.

All heritage clearances and government approvals have been received for these initial drilling activities. Field activities for the Juri JV are scheduled to commence in the coming weeks with field camps and infrastructure being established ahead of drill rig arrival.

Currently, the first drill rig is due to commence by early April 2021. Supporting heritage surveys will be completed over new targets ahead of ground geophysical work and additional drilling.

Airborne electromagnetic geophysical data were collected from the Black Hills licence and the north western part of the Paterson Range East exploration license during the 2020 field season. The survey was designed to:

Assist in the detection of Havieron, Winu and Telfer style Au-Cu deposits beneath cover;
Detect basement conductors related to accumulation of massive sulphides and/or associated conductive (or resistive) alteration;
Map structure and stratigraphy, particularly in non-magnetic sedimentary packages, similar to the host rocks at Telfer and Havieron; and Map basement topography and depth of cover.

Within the Black Hills and Paterson Range East licences the survey comprised 873 line kilometres of AEM collected by New Resolution Geophysics using their helicopter borne 25Hz “Xcite” system. Line spacing was 100m in Paterson Range East and 200m in Black Hills. The survey has identified 25 new conductors within Paterson Range East and six in Black Hills, with several priority targets described below.

In Paterson Range East priority AEM targets include:

A11 – a moderate amplitude anomaly located along or adjacent to the major province scale Anketell-Samphire Fault, and coincident with a weak gravity response. A11 is more than 1500m long, around 200m to the top of the conductor, and warrants follow up ground EM and drill testing; and
A25 (“Tama” Prospect) – comprises a strong, apparently flat lying conductor, interpreted to represent a supergene horizon developed in or over an intermediate to mafic pipe intruding granite. Again, follow up ground EM and drill testing is planned.

These are in addition to the existing coincident gravity and magnetic targets defined at Goliath, Outamind and Los Diablos, where drilling is planned in the first half of CY2021.

At Black Hills six conductors have been outlined, including four associated with the Black Hills Dome, where Greatland reported significant gold results including 13m @ 2.01g/t Au from 67m (SRRC012) and 12m @ 1.38g/t Au from 32m (SRRC011) from drilling in 2019. Priority targets include A27 and A31. Two conductors have been defined outside the Dome, including A30 associated with the Parlay Prospect, and A28 located to the east of the Black Hills Dome.

There has been historic drilling over the Black Hills Dome and further work is required to integrate this drill hole data with the interpreted AEM anomaly sources. Ground EM data is required to more accurately constrain the sources and relate them to existing drilling and will be collected in the upcoming 2021 field programme. At A28 and A30 there are only two shallow holes recorded in the area of the conductors and these are considered ineffective due to cover depth.

Interpretation and ranking of bedrock AEM conductors is ongoing, including integration with other available geological, geochemical, geophysical and drill hole datasets. Several targets warrant drill testing after ground EM follow-up to confirm conductor location and tenor.

Additional information is presented in Appendix I and historic drill hole collar details for Black Hills are presented in Appendix II.

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 that relates to Black Hills drill results has been extracted from the following announcements:

“Black Hills – Final Drill Results & New Geophysical Targets”, dated 14/11/2019 (Greatland)

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


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