Greatland Gold identifies additional targets at Panorama project in Australia

26 October 2017 (Last Updated October 31st, 2017 09:58)

Exploration and development company Greatland Gold has identified additional gold potential at its Panorama project in the Pilbara region of Western Australia.

Exploration and development company Greatland Gold has identified additional gold potential at its Panorama project in the Pilbara region of Western Australia.

The targets were identified as part of an ongoing review of historical data and initial field reconnaissance at the project, which has two adjoining licences covering an aggregate area of 130km².

With respect to the Northern licence area, it is said that the data review has revealed multiple historic rock chip samples with an elevated gold response along a 3.2km zone including results of 10.5g/t, 14g/t, 14.5g/t, 20g/t and 66g/t gold.

Following the completion of reconnaissance along the zone, the company’s technical team has confirmed the presence of visual indications of mineralisation.

Greatland Gold CEO Gervaise Heddle said: “Today’s announcement further highlights the potential for gold mineralisation across both the Northern and Southern licence areas of the Panorama project.

“Historic rock chip and stream sampling results suggest that there is a 3.2km long zone of gold mineralisation in the northern licence area that extends along strike from historical gold mines immediately to the north of our northern licence application.

“In addition, a review of detailed government geological mapping has confirmed the presence of coarse grained sandstones and conglomerates adjacent to the Mt Roe Basalt at two locations in the southern licence application.”

The first area of coarse grained sandstones and conglomerates in the Southern licence area has a strike length of around 1.9km, while the second has 2.6km.

The company indicated that one of the areas showed a co-incident gold in streams anomaly peaking at 4.6ppb gold.

Earlier this month, the company identified about 20 gold anomalies across the project area, with peak gold-in-stream values of 68.5ppb and 60ppb following a review of historical stream sampling data.


Source:

From: Daniel Garrun [mailto:[email protected]]

Sent: Tuesday, October 24, 2017 2:26 PM

To: [email protected]

Subject: FW: Greatland Gold identifies additional gold targets at Panorama Project

Press Release:

https://polaris.brighterir.com/public/greatland_gold/news/rns/story/wkpjk2r

24 October 2017

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

(“Greatland” or “the Company”)

Additional Gold Targets Identified at Panorama Project

Gold potential identified across both the Northern and Southern licence areas at the Panorama project

Further to the announcements of 4 September 2017 and 3 October 2017, Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce that an ongoing review of historical data and initial field reconnaissance has highlighted additional gold potential at Greatland’s Panorama project in the Pilbara region of Western Australia.

Highlights:

Northern licence area

·     An ongoing data review has revealed multiple historic rock chip samples with an elevated gold response along a 3.2 kilometre zone including results of 10.5g/t, 14.0g/t, 14.5g/t, 20.0g/t and 66.0g/t gold;

·     Greatland’s technical team has completed field reconnaissance along this zone and has confirmed that visual indications of mineralisation are present, with verification rock chip sampling of this area currently being conducted.

Southern licence area

·     Detailed government geological mapping confirms the presence of lower Fortescue Group coarse grained sandstones and conglomerates at two locations;

·     The first area of coarse grained sandstones and conglomerates has a strike length of approximately 1.9km and the second 2.6km, with one of the areas showing a co-incident gold in streams anomaly peaking at 4.6ppb gold.

The Panorama project consists of two adjoining exploration licence applications in the Pilbara region of Western Australia. The two licences cover a total area of 130 square kilometres and are prospective for both gold and cobalt mineralisation. On 3 October 2017, the Company announced that a comprehensive review of historical stream sampling data had identified approximately twenty gold anomalies across the project area, with peak gold-in-stream values of 68.5ppb and 60ppb.

Gervaise Heddle, Chief Executive Officer, commented:  “Today’s announcement further highlights the potential for gold mineralisation across both the Northern and Southern licence areas of the Panorama project.

“Historic rock chip and stream sampling results suggest that there is a 3.2 kilometre long zone of gold mineralisation in the northern licence area that extends along strike from historical gold mines immediately to the north of our northern licence application.

“In addition, a review of detailed government geological mapping has confirmed the presence of coarse grained sandstones and conglomerates adjacent to the Mt Roe Basalt at two locations in the southern licence application. This is the equivalent geological setting to that of the Purdy’s Reward and Comet Well prospects currently under the operation of Novo Resources Corp. (TSV-V:NVO).

“We believe that these developments, combined with the recent surge of  gold exploration activity in the Pilbara region, could enhance the strategic value of Greatland’s Panorama project.”