Greatland Gold spots potential new targets at Paterson project

16 July 2019 (Last Updated July 16th, 2019 10:52)

Exploration and development company Greatland Gold has spotted large, high-priority exploration targets at Paterson Range East.

Exploration and development company Greatland Gold has spotted large, high-priority exploration targets at Paterson Range East.

The targets were identified following a high-resolution, low-level aeromagnetic survey conducted over the entire licence area.

Fully owned by Greatland, the Paterson Range East licence E45/4928 is approximately 25km north from the company’s Havieron gold-copper prospect in Western Australia.

Covering an area of 224km2, the prospect hosts proterozoic basement rocks suitable for Havieron style gold-copper mineralisation.

Key terms of the exploration included collection of aeromagnetic data across Paterson Range East. It identified and defined a large number of high-priority targets with a similar magnetic signature to the Havieron target.

Currently, modelling of high-priority aeromagnetic targets is in progress and is subject to detailed, grid-based ground gravity and surface geochemical work.

Comprehensive ground gravity and surface geochemistry is expected to start next month.

More high-priority targets will be identified subject to further modelling and follow-up work, which are likely to include induced polarisation and/or electromagnetic geophysical surveys, prior to drill testing.

Greatland Gold CEO Gervaise Heddle said: “We are very pleased with the encouraging data collected from this detailed, high-resolution survey, which clearly defines numerous high-priority targets at Paterson Range East with a similar discrete magnetic signature to Havieron.

“The combination of a focused suite of geophysical and geochemical tools provides us with a fast, effective and relatively low-cost method to screen for high-priority targets over a large area.”

The Paterson project comprises Havieron, Paterson Range East, and Black Hills licences, located in northern Western Australia.

Covering a total area of 385km2, the three licenses are known to host Telfer style gold-copper deposits, and Havieron style gold-copper mineralisation.

Last month, the company announced the commencement of new field activities at its fully owned Panorama project in the Pilbara region of Western Australia.