23rd Oct 2018 11:48
LONDON (Alliance News) - Greatland Gold PLC said Tuesday it detected copper, silver, gold and pathfinder elements at its Scallywag target after completing a first round of mobile metal ion sampling.
The precious metals miner said that the Scallywag target, located within Havieron licence in Western Australia, consists of several magnetic anomalies, each with the potential to host gold, silver and copper mineralisation.
Findings from the MMI sampling showed copper, silver and gold responses detected along the western parts of the target area. Furthermore, multiple pathfinder element responses, including arsenic, cerium and lanthanum, were also detected along the same trend.
Chief Executive Officer Gervaise Heddle said: "We are very pleased with the results from the first phase of our regional exploration programme which have reinforced the potential for Scallywag to host copper, silver and gold mineralisation.
"Scallywag represents a high priority target for further exploration given the large size of the target, its relative proximity to Havieron, and its potential to host the prospective basement sequence under relatively shallow cover at probable depths of around 50 metres."
Greatland Gold said it intends to continue its programme of regional exploration over the course of the next 12 to 18 months.
The company has just started its second drilling campaign at the Havieron project, after the first drilling campaign revealed positive results during April and May, including 121 metres at 2.93 grams per tonnes of gold at 492 metres.
Greatland Gold shares were trading down 1.7% at 1.10 pence each.
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