Greatland Gold identifies several targets at Ernest Giles East, Australia

16 October 2017 (Last Updated October 26th, 2017 08:10)

Exploration and development company Greatland Gold has identified multiple gold targets at Ernest Giles East in Australia.

Exploration and development company Greatland Gold has identified multiple gold targets at Ernest Giles East in Australia.

The development comes after the company completed mobile metal ion (MMI) surface geochemistry and ground gravity surveys.

As part of the findings, multiple gold anomalies were identified over 60km of strike at the project.

Several clusters of MMI anomalies were found, with some of them showcasing a strike more than 9km-long and up to 3km-wide.

Greatland Gold CEO Gervaise Heddle said: “We believe these results further highlight the potential for the Ernest Giles gold project to be one of most significant gold districts to be identified globally within the last decade.

“These latest findings have significantly improved our understanding of the prospective geology of the Eastern block.

“We believe these results further highlight the potential for the Ernest Giles gold project to be one of most significant gold districts to be identified globally within the last decade.”

“The MMI sampling has identified several clusters of anomalies across multiple adjacent sample traverses, which is extremely encouraging given the traverses were spaced at 3.2km intervals.”

The company noted the sampling work undertaken increases the potential of the Ernest Giles project and reaffirms its belief that it has the potential to host several multi-million ounce deposits.

In May, the company signed an agreement with Newmont Exploration over the Ernest Giles East exploration licences.

Under the agreement, Newmont was granted access to the project tenements and exploration database, in addition to the right of first refusal in case Greatland decides to sell or have a joint venture for the project.

The Ernest Giles East project is spread over nearly 600km² and comprises an 80km long north-south trending sequence of rocks which indicate an extension of the gold prospective Ernest Giles greenstone sequences.

According to the company, to date, no significant exploration was carried out at the project.