30th Oct 2019 13:12
(Alliance News) - Greatland Gold PLC on Wednesday said that geophysical surveys have identified several new high-priority targets at the company's 100% owned Scallywag gold-copper prospect in the Paterson region of Western Australia.
The Scallywag prospect area sits within Greatland's Havieron licence and is an elongate magnetic prospect with a strike length of more than six kilometres.
The precious and base metals exploration company said it will drill test four high-priority targets identified by the Induced Polarisation survey and will conduct additional surveys over the southern portion of the Scallywag prospect area. The four new targets to be tested by the company include Kraken, Barbossa, Blackbeard and London.
"The identification of this first round of high-priority drill targets further reinforces our view regarding the prospectivity of the Scallywag prospect area itself and the Paterson region more generally, a region which we believe could hold multiple tier-one gold-copper deposits. We plan to accelerate drilling of these new targets in the next field season, while also carrying out additional work over Scallywag's southern area to identify further targets," said Greatland Gold Chief Executive Gervaise Heddle.
Greatland Gold shares were down 2.9% at 1.63 pence each in London on Wednesday afternoon.
By Tapan Panchal; [email protected]
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