23rd Sep 2019 14:27
(Alliance News) - Greatland Gold PLC said on Monday results have confirmed the presence of gold mineralisation at the Saddle Reefs prospect.
A reverse circulation drilling programme has been completed at Black Hills, Western Australia. A total of 20 reverse circulation holes for 5,846 metres were drilled to depths ranging from 154 metres to 500 metres.
Results confirmed the presence of gold mineralisation at the Saddle Reefs prospect, and there were "encouraging" initial four metre composite results with several broad intersections subparallel to a large induced polarisation chargeability response.
"The presence of several broad intersections of mineralisation in Greatland's first drill campaign at Black Hills is an encouraging development. We believe that Black Hills has significant potential to host gold mineralisation, similar in style to that seen at Newcrest's nearby Telfer mine, although the project remains at a very early stage," said Chief Executive Gervaise Heddle.
Shares in Greatland Gold were down 3.6% at 1.82 pence in London on Monday.
By Lucy Heming; [email protected]
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