Greatland Gold has spotted a large new gold target following a 3D induced polarisation (3DIP) survey at its wholly owned Firetower gold project in Tasmania, Australia.
The 3DIP survey was conducted after a technical review of the Firetower project showcased the need for induced polarisation geophysics in order to outline the trend of gold mineralisation.
The survey covered a 1.6km strike length over the immediate mineralised zone at Firetower, as well as other target areas to the immediate west and east.
Traversing east-west across the Firetower prospect, the 1,000m-long gold target is open to the east and up to depths of 400m.
Greatland Gold CEO Gervaise Heddle said: “We are very pleased by the excellent models generated by the 3DIP survey at Firetower, which have identified an exciting new large gold target.
“We believe that these models represent a potential breakthrough for our exploration efforts at Firetower and will help us to unlock the true potential of this high-grade, near-surface gold deposit.
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“Our intention is to advance the Firetower project towards its exploration target of 1Moz of gold by leveraging these excellent results and we are currently planning a new drill programme, which we expect to commence in the first quarter of 2019.”
The company is planning to undertake a drill programme in a bid to assess the target identified by the results of the 3DIP survey.
The company is also contemplating the deployment of 3DIP geophysics across the broader prospective sequence at Firetower.
The 62km² Firetower project includes two main prospects, namely Firetower and Firetower West.
According to Greatland Gold, the Firetower prospect comprises significant gold mineralisation from surface up to 30g/t.