Greatland Gold PLC (LON:GGP) Update on Exploration Campaign at Panorama Project

Gervaise Heddle, Chief Executive Officer, commented: “The discovery of numerous gold nuggets in multiple locations within the first week of the new field campaign at Panorama represents a very exciting start to this campaign and further confirms our belief in the significant potential of this project.

 

Field reconnaissance at Panorama locates numerous gold nuggets in multiple locations and confirms the presence of mineralisation over several kilometres of strike

 

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce that field reconnaissance activities have located numerous gold nuggets, confirming the presence of mineralisation over several kilometres of strike at the Company’s 100% owned Panorama project, located in the Pilbara region of Western Australia. The zone of gold mineralisation has been extended from 3.2km of strike to 4.3km.

Highlights:

· Numerous gold nuggets found in thin soil cover over several hundred metres of strike, confirming the presence of gold mineralisation along the mineralised zone.

· Gold nuggets found in more than 10 locations, including an area further south along strike, thereby extending the strike extent of the mineralised trend from 3.2km to 4.3km.

· The mineralised zone, hosted in Archean basement, currently remains open to the south west and will be subject to further reconnaissance activities and systematic, grid-based surface geochemical sampling, which is expected to be completed by late July.

· Additionally, a detailed, low level aeromagnetic survey covering the entire Panorama project area is expected to commence next week.

Gervaise Heddle, Chief Executive Officer, commented: “The discovery of numerous gold nuggets in multiple locations within the first week of the new field campaign at Panorama represents a very exciting start to this campaign and further confirms our belief in the significant potential of this project.

“The dual geochemical and geophysical campaign that we are conducting at Panorama represents a step up in the scale of exploration previously conducted at this project and clearly these early results support our decision to accelerate the pace of exploration activity at this exciting gold target in the Pilbara. We look forward to providing further updates as the exploration campaign progresses, including results from soil and rock chip sampling and the aeromagnetic survey.”

A photo of the gold nuggets collected and a map indicating collection points can be found on the Panorama project page of Greatland’s website at: www.greatlandgold.com/panorama/

Panorama Project

The Panorama project consists of three adjoining granted exploration licences located in the Pilbara region of northern Western Australia. The three licences cover a total area of approximately 155 square kilometres and are prospective for gold and base metal mineralisation.

Geology of the area is predominantly greenstone and granite of the Archean Pilbara Craton in northern Western Australia, and younger overlying sedimentary and volcanic sequences. As such the project is prospective for Archean lode style gold mineralisation and also ‘conglomerate’ style gold mineralisation.

The Company completed a detailed review of historic work at Panorama, which revealed many rock chip samples with an elevated gold response from within the project area. Rock chip samples were collected during the mid to late 1990s, mainly over the northern parts of the project area. The most significant samples identified to date lie along a north-south trending zone approximately 3.2km long with rock chip results including 66.0g/t, 14.5g/t, 4.1g/t, 2.1g/t and 1.1g/t gold. The geological setting is a prominent ridge marking the structural contact of basaltic and ultramafic rocks of Archean age.

 

Full RNS Link HERE 

 


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