Warrentinna Drilling Intersects High-Grade Gold Mineralisation
Targeted, low-cost diamond drilling programme at Derby North prospect returns high-grade gold intercepts, including 21.7m @ 3.3g/t Au from 9.3m
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce that it has intersected high-grade gold mineralisation from its maiden diamond drilling programme at Derby North, a prospect within the Company’s 100% owned Warrentinna project in Tasmania, Australia.
Greatland previously conducted limited Reverse Circulation (“RC”) drilling at Derby North, which outlined a gold mineralised system approximately 150m long and 100m wide, open to the north, east and at depth. The Company has now completed its maiden diamond drilling programme at the prospect with three diamond holes for a total of 285m of drilling. This targeted drilling campaign was designed to provide a better understanding of the host rocks, type and tenor of gold mineralisation, and highlight any structural controls. Laboratory assay results have now been received and are announced today.
Highlights of Drill Results
· Maiden diamond drill programme at Derby North prospect intersects high-grade gold mineralisation and increases depth extent of known mineralisation.
· Best results include:
o 21.7m @ 3.3g/t Au from 9.3m (2019WTD001), including
§ 2.2m @ 12g/t Au from 10.8m
o 11.7m @ 2.8g/t Au from 115m (2019WTD002) – a new zone of gold mineralisation beneath the previous drilling
o 43m @ 1.5g/t Au from 10m (2019WTD003)
· Results and data collected from the drilling programme are expected to assist with potential divestment of the project, in line with the Company’s strategy to seek to divest non-core projects.
Gervaise Heddle, Chief Executive Officer, commented: “These positive results from our maiden diamond drilling campaign at Warrentinna further increase the depth extent of the known mineralised zone and clearly demonstrate the potential for a significant gold mineralised system at Derby North.
“The drill core and associated data collected has greatly improved the Company’s understanding of the mineralised system and should assist with any potential divestment of the project. Our immediate next step is to complete an evaluation of the results to assess the project’s potential, referencing Orogenic-type gold occurrences in central Victoria which include the Fosterville and Bendigo gold deposits.”
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
Full update link www.share-talk.co.uk
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