27th Aug 2014 10:41
LONDON (Alliance News) - Greatland Gold PLC Wednesday said it has received analytical results confirming copper mineralisation to 1.34% with associated silver and gold at the Firetower project.
In a statement, the mineral exploration and development company based in Australia said the results were received following the completion of core drilling to a total depth of 410 metres by farm-in partner Unity Mining Ltd at Firetower West.
Further work is likely to include a review of detailed aeromagnetic and gravity data to determine the controls on mineralisation at the Firetower West site, according to Greatland Gold.
"This is the first drill hole targeting a relatively large geophysical target at Firetower. Copper intersections to 1.34% with associated gold and silver mineralisation is quite exciting. We know the terrain is fertile as economic deposits of this type are found in similar rocks to the west. Further work will entail a review of controls on mineralisation at the site," Chief Executive Callum Baxter said in a statement.
The Firetower project comprises four contiguous licences covering an area of 265 square kilometres in central-north Tasmania.
Greatland Gold shares were Wednesday quoted down 1.2% at 0.331 pence.
By Samuel Agini; [email protected]; @samuelagini
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