21st May 2018 14:27
LONDON (Alliance News) - Greatland Gold PLC on Monday said it intends to start a new exploration programme at its Black Hills licence in Western Australia as it has identified four distinct zones of gold mineralisation.
The precious and base metals exploration company said it reviewed historic data highlights and saw the potential for high-grade, near-surface gold mineralisation at Saddle Reefs, Eastern, Rogers and Northern Granites prospects of Black Hills.
Testing at Saddle Reefs prospect showed the presence of strong surface gold mineralisation while in Rogers and Northern Granites the company saw prospective gold mineralisation at surface.
Drilling at the Eastern prospect showed a linear zone of gold mineralised stratigraphy, apparent over a strike of approximately 4 kilometres.
Looking ahead, the company said it will carry out field work over several prospects at Black Hill during June and July to determine the areas with the greatest potential for high-grade gold mineralisation.
"Our first exploration programme at Black Hills marks another important step for Greatland," said Chief Executive Gervaise Heddle.
"The Black Hills project epitomises our strategy of targeting under-explored areas with great potential," Heddle continued. "We believe it represents an excellent opportunity for Greatland and we are excited to get started with the exploration programme."
The stock was trading 4.7% higher at 0.576 pence per share on Monday afternoon.
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