21st Apr 2015 10:10
LONDON (Alliance News) - Greatland Gold Corp Tuesday said it has begun the ground electromagnetic survey at the Bromus project in Australia with the aim of identifying new nickel sulphide targets, yielding "positive" preliminary results.
The mineral exploration and development company said the preliminary results have identified a "very significant" bedrock conductor, which is an area with highly conductive material in the bedrock, alongside several other bedrock conductors that require further investigation.
"Data quality is extremely good and productivity is outstanding. Initial data has identified a very significant bedrock conductor in the north of our target area, as well as several others that require further investigation. We are excited to have succeeded in identifying significant bedrock conductors so early in the programme," said Chief Executive Callum Baxter.
The significant bedrock conductor that has been found stretches over about 400 metres of strike, which represents a "sizeable target", said Greatland.
The bedrock conductors that need further investigation will be looked at in more detail over "the coming months" and Greatland Gold said it will provide additional information once all the data has been received and incorporated into its model, which will take around two weeks, it said.
The Bromus project is in southern Western Australia, around 25 kilometres south-west of Norseman, covering around 112 square kilometres. Greatland owns the whole of the project.
Greatland shares were up 3.7% at 0.140 pence per share on Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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