20th Aug 2018 10:05
LONDON (Alliance News) - Shares rose in Greatland Gold PLC on Monday as it said it has identified a new gold target with a 3D induced polarisation survey as its Firetower gold project in Tasmania, Australia.
Shares in the precious metals miner rose 11% at 1.28 pence on Monday.
Induced polarisation data was collected to allow for the production of 3D models that highlighted a large gold target 1,000 metres long, open to the east and up to depths of 400 metres at the project.
Greatland Gold is currently looking at plans for a drill programme to test the large target identified by the results of the survey, and is also looking to deploy further 3D geophysics over Firetower.
"We believe that these models represent a potential breakthrough for our exploration efforts at Firetower and will help us to unlock the true potential of this high-grade, near-surface gold deposit. Our intention is to advance the Firetower project towards its exploration target of one million ounces of gold by leveraging these excellent results and we are currently planning a new drill programme which we expect to commence in the first quarter of 2019," said Chief Executive Officer Gervaise Heddle.
Related Shares:
Greatland Gold