StockMarketWire.com - Greatland Gold's recent drilling has confirmed gold mineralisation at its Ernest Giles project in Western Australia.

Earlier drill programmes by the company intersected gold mineralisation and large alteration systems in wildcat drilling of blind structural targets defined by detailed airborne geophysics.

The company said this was considered a major achievement for such a large prospective area with virtually no historical work.

To build on this the Company completed a comprehensive broad spaced RC drilling programme which tested several large areas based on work completed by the company and earlier work by Western Mining Corporation.

The 2016 RC drill programme comprised 23 holes for 5,581m.

Hole locations were based on a broad spaced grid pattern of 1,600m x 800m.

Holes were designed to test basement lithologies for gold mineralisation and also test beneath surface geochemical anomalies.

Mineralisation was observed in 13 of the 23 holes. Initial 4m composite analysis of drill spoils shows gold anomalism between 5 and 95ppb in more than 10 holes peaking at 784ppb.

Several holes exhibiting gold anomalous zones over tens of metres, for example ERC011 140-200m (60m) peaking at 0.78g/t gold with mineralisation at end of hole, and ERC014 224-278m (54m) peaking at 0.17g/t gold also with mineralisation at end of hole.

Additional 1m sampling of several zones of interest was undertaken to confirm preliminary results and better define mineralisation.

Only holes ERC011, ERC013 and ERC014 were sampled with a total of 174 single metre samples collected.

Many significant gold results were returned up to 2g/t, including 2m at 1.51g/t and 1m at 1.54g/t.

Anomalous silver was also noted in many samples.

Executive director Callum Baxter said: "We are very pleased to be able to report these results from our first systematic, wide-spaced drilling campaign at our 100% owned Ernest Giles gold project.

"On 12th January 2017, Greatland reported that results from our recent ambitious drilling campaign at Ernest Giles had successfully identified two large zones of gold mineralisation, including a Western zone of 6km in length and 1.5km in width, and an Eastern zone of 2km in length and 1.5km in width.

"These results reported today provide support for the view that this large greenstone belt is highly prospective for gold and may contain similar multiple million ounce deposits as have been discovered in other large greenstone belts in Western Australia.

"Greatland continues to explore several options to advance this exciting project."


At 9:56am: [LON:GGP] Greatland Gold PLC share price was +0.05p at 0.23p



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