3rd Nov 2023 10:17
Greatland Gold PLC - Western Australia-focused exploration and development company - Says phase one of drilling campaign at Paterson South in Western Australia has been completed. Under a farm-in and joint-venture deal announced in May, Greatland Gold is entitled to a 75% interest in Rio Tinto Exploration Pty Ltd's 100% owned Paterson South project. Says drilling "effectively tested" the magnetic source of the Stingray and Decka targets, with assay results showing "moderately anomalous" gold and copper in various intervals.
Managing Director Shaun Days says: "We are pleased by the results from our maiden drilling program at Budjidowns, within the Paterson South project, where two high priority targets were successfully tested. The program has identified the presence of anomalous gold and copper as well as pathfinder elements, which is encouraging and informative.
"The rapid commencement of drilling following execution of the joint venture with Rio Tinto Exploration is testament to Greatland's commitment and ability to efficiently and safely explore the Paterson region, which we will continue across our expanded Paterson province exploration portfolio."
Current stock price: 9.68 pence, down 1.3%
12-month change: up 29%
By Sabrina Penty, Alliance News reporter
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