Greatland Gold PLC (LON:GGP) Exploration Update – Black Hills Drill Results

Gervaise Heddle, Chief Executive Officer, commented: “The presence of several broad intersections of mineralisation in Greatland’s first drill campaign at Black Hills is an encouraging development.

First drill results confirm the presence of gold mineralisation at Black Hills’ Saddle Reefs prospect

Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to provide an exploration update on results received to date from drilling at its 100% owned Black Hills project in the Paterson region of Western Australia.

A Reverse Circulation (“RC”) drilling programme has been completed at Black Hills. A total of twenty RC holes for 5,846m were drilled to depths ranging from 154m to 500m. All holes were sampled from surface to end of hole as four metre composites. Analytical results have been received for 14 of the 20 holes completed (drill holes SRRC001 through SRRC014) and are reported in this announcement.

Highlights of Drill Results

· Results received to date confirm the presence of gold mineralisation at the Saddle Reefs prospect.

· Encouraging initial four metre composite results with several broad intersections subparallel to a large Induced Polarisation (“IP”) chargeability response.

· Best four metre composite results include:

o 36m at 0.53g/t Au and 0.21% Cu from 104m (SRRC007), including

§ 4m at 1.65g/t Au from 104m

o 36m at 0.36g/t Au from surface (0m) (SRRC010)

o 12m at 0.57g/t Au from 32m (SRRC011)

o 56m at 0.56g/t Au from 68m in hole (SRRC012), including

§ 4m at 2.52g/t Au from 76m

· Further assay results are awaited for the remaining holes (SRRC015-SRRC020) and then single metre samples will be analysed to more accurately determine the downhole location and tenor of mineralisation.

Gervaise Heddle, Chief Executive Officer, commented: “The presence of several broad intersections of mineralisation in Greatland’s first drill campaign at Black Hills is an encouraging development. We believe that Black Hills has significant potential to host gold mineralisation, similar in style to that seen at Newcrest’s nearby Telfer mine, although the project remains at a very early stage. We will conduct additional analysis once the remaining four and single metre results are received to determine the best way to further advance exploration at Black Hills.”

In June 2018, Greatland commenced its first exploration campaign at Black Hills. Surface rock chip sampling located outcropping gold mineralisation over several hundred metres at the Saddle Reefs prospect and subsequent geophysical work outlined a large, coherent chargeability anomaly over 1,400m of strike, spatially associated with gold mineralisation identified at surface. Recent drilling completed at Black Hills has partially tested the Saddle Reefs prospect and has confirmed the presence of gold and copper mineralisation.

Overview of Paterson Project and Black Hills licence

The Company’s Paterson project comprises the Havieron, Paterson Range East, and Black Hills licences, located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square kilometres and are prospective for Telfer style gold-copper deposits.

The Paterson region is currently one of the most active exploration areas in Australia. Recent exploration success achieved by Greatland Gold and Rio Tinto demonstrates the region has been underexplored, particularly the extensive areas under cover. As well as hosting several large gold and copper deposits such as Telfer and Nifty, more recent exploration has outlined several other deposits including Magnum (Au), Calibre (Au), O’Callaghans (W, Cu) and Maroochydore (Cu). The region is remote, however infrastructure is good, with several operating mines, roads, formed tracks and rail networks nearby which branch out from the regional industrial hub of Port Hedland 500km to the west.

The Black Hills licence, E45/4512, lies 30 km east of the large Telfer gold mine. Black Hills is a granted exploration licence that covers 25 square kilometres and sits adjacent to the Company’s Havieron exploration licence. The Black Hills licence is regarded as having high potential to host gold mineralisation, similar in style to that seen at Telfer. There has been a considerable amount of historical exploration work at Black Hills with several discrete zones of mineralisation identified over 5km of strike. Historical rock chip samples have returned up to 90g/t gold, and commonly 20g/t gold, with free (visible) gold in places. Historic drill intercepts include 3m at 9.14g/t gold from 26m downhole (incl. 1m at 21.2g/t from 27m (CBR073)), 1m at 10.0g/t gold from 16m (CBH138), 1m at 4.93g/t from 12m (CBH071) and 1m at 3.12g/t from 37m (NBH004).

READ
MetalNRG PLC (LON:MNRG) Gold Ridge Update - Preliminary Results

Gold prospects identified to date extend from Black Hills into the north western parts of the Havieron licence. Proterozoic sandstone and carbonate rocks of the Yeneena Group formations are present, including the Telfer Formation, in a domal structure which is the equivalent geology to that of the large Telfer gold deposit located 30km to the west.

A large amount of historical surface exploration data for the Black Hills area has been compiled and incorporated into the Company’s database. Gold mineralisation has been outlined at several prospects throughout the licence including Saddle Reefs, Eastern, Rogers and Northern Granites (within an area of 6.5km x 2km).

Strong surface gold mineralisation is present at the Saddle Reefs prospect with historical rock chips including 55.6g/t, 20.0g/t, 19.65g/t, 18.45g/t and 17.0g/t over an area of approximately 1,400m x 800m. The zone has a north-westly trend and sporadic drilling with results including 3m at 9.14g/t gold from 26m downhole, including 1m at 21.2g/t from 27m, in hole CBR073. This zone is in the core of an anticlinal feature and, overall, is gold prospective over a strike length of approximately 3km.

At the Eastern prospect, a linear zone of gold mineralised stratigraphy is apparent over a strike of approximately 4km. Historical surface rock chip results include 1.9g/t gold, 1.2g/t gold and 1.0g/t gold. Broad spaced drilling along the zone has returned results including 1m at 10.0g/t gold from 16m (CBH138), 1m a 4.93g/t from 12m (CBH071) and 1m at 3.12g/t from 37m (NBH004). The mineralisation appears to track along a structural contact and the focus will be on identifying the higher grade mineralisation along this trend.

The other prospects of Rogers and Northern Granites show prospective gold mineralisation at surface with historical rock chip results including 50.2g/t and 10.45g/t at Rogers and 6.9g/t at Northern Granites. Drill testing is limited but results have included 1m at 1.48g/t from 38m (NBH008) at Rogers and 1m at 2.35g/t gold from 5m (CBH253) at Northern Granites.

The Company commenced field activities at Black Hills in mid-2018. Work focused on the Saddle Reefs and Rogers areas, collecting rock chip samples and locating historical access. The host sequence of Proterozoic sandstones and limestones outcrop through relatively thin sand cover. Numerous indications of mineralisation in bedrock are apparent. Gossanous samples were collected from outcrop, visible gold recovered from rock chip samples, and gold nuggets were found in thin sand cover at Saddle Reefs.

At Saddle Reefs, the mineralised sequence outcrops through a thin veneer of sand and gravel. Rock chip samples were collected over a strike length of approximately 800m with results over 10g/t gold including 81.7g/t, 45.7g/t, 37.6g/t, 33.9g/t, 28.2g/t and 23.5g/t. Many also showed high silver above 10g/t up to a maximum of 106.1g/t. Gold (and silver) mineralisation in bedrock has been identified over a strike length of approximately 800m at Saddle Reefs.

Comprehensive Induced Polarisation (IP) geophysical work over Saddle Reefs was undertaken during mid 2018 and early 2019 which covered a strike length of 2km. Modern 3D inversion models of resultant IP data were generated. These models outlined a large, chargeability anomaly over 1,400m of strike spatially associated with gold mineralisation identified at surface.

A Reverse Circulation (RC) drill program has been completed at Black Hills. Drilling focussed on the Saddle Reefs prospect, with several additional holes into the Saddle Reefs West and Eastern prospects. A total of twenty RC holes for 5,846m were drilled to depths ranging from 154m to 500m. Holes were angled at 60 degrees. All holes were sampled from surface to end of hole as four metre composites and analysed for a 49 element suite. Analytical results have been received for 14 of the 20 holes completed. The first 13 holes represent three traverses of drill holes across portions of the Saddle Reefs prospect, while the 14th hole is one hole from a three hole traverse across Saddle Reefs West area. Results for 14 holes SRRC001 through SRRC014 are presented in this announcement. Results received to date confirm gold mineralisation at the Saddle Reefs prospect. Highest four metre composite gold result was 2.52g/t in SRRC012 from 76m downhole, while copper peaked at 8540ppm in SRRC007 from 116m downhole.

READ
Bushveld Minerals Limited (LON:BMN) Early settlement of the Yellow Dragon earn-out

Four metre composite intercepts included 36m at 0.53g/t Au and 2107ppm Cu in hole SRRC007 from 104m downhole (including 4m at 1.65g/t Au from 104m), 12m at 0.57g/t Au from 32m in hole SRRC011, and 56m at 0.56g/t gold from 68m in hole SRRC012. Mineralisation in drilling at the Saddle Reefs prospect is associated with fine grained sandstones and quartzite, and generally subparallel to the IP chargeability anomaly which has been defined over 1,400m. Drill hole collar details and tabulated intercepts are presented in Appendix I and additional drill hole information is presented in Appendix II.

These initial four metre composite results are considered a sound result with several broad intersections drilled to date subparallel to a large IP chargeability response. Further results are awaited for the remaining holes (SRRC015-SRRC020) and then single metre samples will be analysed to more accurately determine the downhole location and tenor of mineralisation.

Competent Person:

Information in this announcement that relates to exploration results is based on information compiled by Mr Mick Sawyer, Exploration Manager for Greatland Pty Ltd, who is a member of the Australian Institute of Geoscientists and is a Registered Professional Geoscientist (R.P.Geo #10194). Mr Sawyer has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken 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. Mr Sawyer consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

Information in this announcement that relates to Black Hills project exploration results has been extracted from the following announcements:

“Greatland Discovers Gold Nuggets at Black Hills”, dated 21 June 2018

“Black Hills: Further Gold Found in Surface Samples”, dated 2 July 2018

“Black Hills Update”, dated 17 July 2018

“High Grade Gold Detected in Samples at Black Hills”, dated 4 September 2018

“Large New Geophysical Target at Saddle Reefs”, dated 29 October 2018

“Rio Tinto Exploration Update – copper-gold mineralisation discovered in the Paterson Province in the far east Pilbara region of Western Australia” dated 27 Feb 2019

“Greatland Commences 2019 Field Exploration Campaign at Black Hills”, dated 7 May 2019

“Black Hills – Positive IP Results and Drill Update”, dated 30 May 2019

“Rio Tinto Exploration Update – Winu project”, dated 6 June 2019

“First Drilling Campaign Commences at Black Hills”, dated 9 July 2019

“Rio Tinto Exploration Update – Winu project”, dated 1 August 2019

Further information on the Black Hills licence can be found under ‘Paterson’ on the Company’s website. In addition, this announcement is available in PDF format, with figures/diagrams, from the Company’s website: www greatlandgold.com

 

Register for the Share Talk investor evening, London 26th November 2019


Linking Shareholders and Executives :Share Talk

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

The Thermonitor Cloud is the latest in wireless temperature monitoring systems. Designed and developed in the UK the Thermonitor wireless temperature monitor is able to monitor the temperatures of up to 50 fridges, freezers, cold rooms, storage facilities and hot boxes simultaneously.

Malcare WordPress Security