19th Aug 2014 09:25
LONDON (Alliance News) - Greatland Gold PLC Tuesday said its joint venture partner on the Lisle Gold Project in Tasmania has completed reverse circulation drilling at the Lisle project area, with results from the site indicating the presence of porphyry-type gold mineralisation.
The Australia-based minerals explorer said Tamar Gold Ltd, its farm-in and joint venture partner on the Lisle project, showed the presence of porphyry-type gold mineralisation. Porphyry is a variety of igneous rock consisting of large-grained crystals.
The company said further work will take place at the site in the coming field season.
"We are very pleased by these positive results from the Lisle project area. These results are consistent with bulk tonnage porphyry type deposits and provide encouragement that the district is prospective for this style of deposit," said Greatland Gold Chief Executive Callum Baxter.
Greatland Gold shares were trading 1.5% higher at 0.35 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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