21st Jun 2018 11:27
LONDON (Alliance News) - Greatland Gold PLC shares spiked on Thursday as the company said it had discovered multiple gold nuggets and pieces within days since the beginning of its work at the Black Hills project in Australia.
As a result of the news, Greatland shares were trading 61% higher at 1.15 pence each.
The company started working on his 100%-owned Black Hill project in in the Paterson region of Western Australia last Monday.
The field team collecting rock chip samples from the Saddle Reefs area at the project found gold nuggets and pieces within thin sand cover at the prospect, the company said.
"Their observations reveal the area is obviously prospective with numerous indications of mineralisation in bedrock," the company said.
The company said that only 150 metres of strike have been covered at Saddle Reefs with several hundreds planned to be covered in the next week.
Rock chip samples are being collected and will be analysed with standard chemical assay techniques, it said.
Chief Executive Officer Gervaise Heddle said: "We are very pleased by the rapid discovery and collection of gold from surface within days of the field work commencing.
"These early results from Greatland's first and ongoing exploration campaign at Black Hills far exceed our initial expectations."
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