Positive Results from Geochemical Survey at Paterson Range East
Comprehensive surface geochemical survey at Paterson Range East enhances existing targets and identifies multiple new targets
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce that a comprehensive geochemical survey within the Paterson Range East licence has enhanced existing targets and identified multiple new targets.
A comprehensive Mobile Metal Ion (“MMI”) geochemical surface soil survey has been completed at Paterson Range East. A total of 2,183 MMI samples were collected over existing targets with station spacing of 200m by 200m. Results from the MMI survey have been received and are reported in this announcement.
Highlights of Results from MMI Survey
· Widespread geochemical response, including gold and copper, enhances the prospectivity of multiple targets at Paterson Range East
· Goliath target upgraded:
o Significant geochemical response identified at Goliath
o Similar geochemical signature to Havieron
o Goliath represents a large ‘bulls-eye’ magnetic anomaly with semi-coincident gravity anomaly and is a high-priority target
· Three new additional targets identified (G1, G2, G3):
o New targets are geochemical anomalies with favourable geology and/or geophysical characteristics
The Paterson Range East licence, E45/4928, is 100% owned by Greatland and lies approximately 25 kilometres north of the Company’s Havieron gold-copper prospect. The licence covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation.
Gervaise Heddle, Chief Executive Officer, commented: “We are encouraged by the results of our recent geophysical and geochemical studies which have identified a range of exciting, high-priority targets. The Goliath target in particular, which displays very similar characteristics to Havieron, has emerged as one of our highest priorities for 2020 as we look to fast track exploration across the Paterson 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/
Overview of Paterson Project and Paterson Range East 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, Havieron style gold-copper mineralisation and Winu style copper-gold-silver mineralisation.
The Paterson region is currently one of the most active exploration areas in Australia. Recent exploration success achieved by Greatland 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 Paterson Range East licence, E45/4928, lies approximately 25 kilometres north of the Havieron gold-copper prospect. The Havieron prospect is currently under a Farm-in agreement with Newcrest Operations Limited, while Paterson Range East remains 100% owned and operated by Greatland. The Paterson Range East licence covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation. Basement rocks are covered by varying amounts of younger Permian sediments ranging in depth from less than 100m up to more than 400m based on sparse historical drilling.
It is widely recognised that additional gold-copper discoveries in the Paterson will come from areas under cover, and that geophysics is a critical component of the discovery process. Greatland continues to apply its proven expertise at Paterson Range East through a systematic approach to exploring under cover in the Paterson region.
Basement rocks at Paterson Range East are interpreted to be predominantly calcareous rich sandstones intruded by several late stage granitic bodies. Historically, several of these targets have been subject to initial first-pass work, including limited drilling by Newcrest Mining Limited (“Newcrest”) in the early 1990s, and show promise at hosting mineralisation as seen at Havieron.
A detailed, low-level 50m line spaced aeromagnetic survey was collected over Havieron in 2005 (by a previous operator) and this data was critical in delineation and drill targeting for Greatland’s highly successful 2018 campaign (HAD001-HAD009). To expand this successful approach, Greatland commissioned a detailed, low-level airborne magnetic survey to cover the entire Paterson Range East licence. The survey comprised approximately 5,200 line kilometres at a line spacing of 50m with a mean terrain clearance of 40m. Previous aeromagnetic coverage of the area included 200m and 400m line spaced surveys.
A detailed ground gravity and MMI survey was completed at Paterson Range East to further rank targets identified from the aeromagnetic survey. A total of 3,736 new gravity stations were collected over the entire tenement at a spacing of 400m by 200m with local infill at 200m by 200m over selected areas. Four primary targets and four secondary targets were identified following modelling of the detailed magnetic and gravity data.
Full update LINK
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