25th Sep 2007 07:00
Greatland Gold PLC25 September 2007 GREATLAND GOLD PLC Exploration Update Dated: 25 September 2007 Greatland Gold plc (the "Company") the mineral exploration and developmentcompany focused on gold projects in Tasmania and Western Australia is pleased toannounce an update of recent activities and analytical results. At Warrentinna, gold mineralisation continues to be outlined at the two historicgoldfields of Forester and Warrentinna. Recent surface rock chip samplingreturned up to 44.6 g/t gold (1.4 ounces per tonne) while soils reported high atover 300ppb gold and silver to 1600ppb (1.6g/t). Strike length of themineralised trends at both the Forester and Warrentinna goldfields has beenextended. Warrentinna Work has continued at Warrentinna to follow-up encouraging gold results reportedduring July. Activities were again focussed on the southern two goldfields ofForester and Warrentinna where gold trends over 5km long have been outlined ateach area. Many historic workings are evident and more continue to be located. Forester Goldfield The Forester goldfield hosts the Malabar and Linton workings where anorth-northeast trending zone of gold mineralisation has been extended to covera strike length of some 6km. Further rock chip and soil sampling was completedto better define mineralised trends north of the Linton mine. Rock chip sampling returned significant results up to 44.6g/t gold (1.4 ouncesper tonne) 150m north of the Linton mine. Material sampled was pyritic, quartzveined spoil from shallow prospecting trenches. Also north of Linton, soilsampling was successful in outlining gold in soils over a 600m x 100m area up to18.6ppb with high silver in soils to 1600ppb (1.6g/t). Field inspection revealedbedrock with abundant sulphides and localised quartz veining. Geological mappingand surface sampling is ongoing to better define high-grade targets zonessuitable for drill testing. Warrentinna Goldfield The Warrentinna goldfield is host to numerous historic workings andmineralisation has now been outlined over a strike length of approximately 6km.The main clusters of workings along the trend are Golden King, Golden Mara,Derby, Golden Dyke and Renown. Recent efforts include rock chip sampling and soil sampling to better definemineralised trends and to gauge the tenor of gold mineralisation. Rock chipsampling of trench spoils and various shallow workings reported resultsincluding 2.41g/t, 2.24g/t and 1.04g/t gold. Soil samples from a 1.6km long trend from Derby through Golden Dyke to theRenown workings returned high values of 325ppb, 219ppb, 159ppb and 138ppb gold.Also, in the Golden Dyke area the line of mineralisation shows particularly goodcontinuity at surface. Further work will include geological mapping and surfacesampling to highlight the more prospective areas within the 6km of strike. Fi retower The Tasmanian government has approved the grant of additional acreage for theFiretower project. This new acreage covers 18km of prospective geology similarto that hosting mineralisation at the Firetower and Firetower West prospects.Grant is expected in the coming quarter. Initial work programs will includemapping and geochemical sampling. Lackman Rock The Lackman Rock project is located in southern Western Australia and isprospective for gold and nickel sulphides. No exploration work has been carriedout on the project to date. Tenement grant is imminent and an auger samplingprogram will follow. Corporate Greatland Gold owns 100% of all its projects. The company currently holds morethan £2.0 million in cash and has no debt. As such, the company does not requireadditional funding for over two years at current expenditure levels. Competent Persons The in formation in this announcement that relates to Exploration Results isbased on information compiled by Mr Paul Askins and Mr Callum Baxter, dire ctorsof Gre atland Gold, who are both members of the Australasian Institute of Miningand Metallurgy. Paul A skins and Callum Baxter have sufficient experience whichis relevant to the style of mineralisation and type of deposit underconsideration and to the activity that they are undertaking to qualify asCompetent Persons as defined in the 2004 Edition of the 'Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves'. Paul Askins and Callum Baxter consent to the inclusion in the announcement of the matters based on their information in the form andcontext in which it appears. All rock chip results are obtained from grab or continuous chip sampling to 2kgand all soils are 2kg bulk samples. All samples are prepared at GenalysisLaboratory Services' Adelaide facility using a single stage pulverisation, andassayed at Genalysis Laboratory Services' Perth laboratory. An Aqua Regia digestwith atomic absorption spectrometry analysis technique (AAS) is used for gold.An Aqua Regia digest with Optical Emission Spectrometry (OES) is used forsilver. Full quality control is achieved using a suite of standards, duplicates,repeats and blanks. Enquiries: Callum Baxter +44 (0)20 7099 5845 Greatland Gold plc Managing DirectorJohn Simpson +44 (0)20 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Updates on the Company's activities are regularly posted on its website www.greatlandgold.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Greatland Gold