Greatland Gold plc (AIM:GGP) is delighted to announce the successful completion of the WA Government Exploration Incentive Scheme (EIS) co-funded drilling program at the Meadows gold prospect within the Company's 100% owned Ernest Giles project (Ernest Giles).
Key Highlights:
- Two diamond core (DD) holes were drilled, totaling 1,267.7 meters.
- EGD006 returned anomalous mineralization of 8 meters at 0.12g/t Au from 316 meters, associated with alteration and anomalous pathfinder geochemistry.
- The drilling results provide crucial geological and structural information for planning a systematic reverse circulation drill program scheduled for this year to test highly prospective targets at Meadows prospect.
- A ground induced polarization (IP) survey is planned for later in 2024 to further refine targets, along with additional airborne geophysics.
Greatland's Managing Director, Shaun Day, commented:
The completion of the Land Access Agreement and EIS co-funded drilling at Ernest Giles marks a significant milestone for the project, representing the first on-ground exploration in over five years."
"Ernest Giles is an exciting 100% owned project situated outside our strong foothold in the Paterson region, in an underexplored Archean greenstone belt known to host many Tier 1 deposits."
"These initial results are encouraging and confirm the prospectivity of the project. The results will inform further exploration work, including a more extensive drilling program this year."
Completed Drilling Program:
The two completed EIS co-funded diamond core drill holes, EGD005 & EGD006, provided critical geological understanding of the project and guided future targeting. Gold anomalism was confirmed to be hosted within altered basalts, banded iron formation (BIF), and syenite.
The results suggest encouraging broad, weak (Au-Ag-Cu-Zn) mineralization, possibly indicating the edge of a larger system. Further drilling will utilize this information to better target mineralized areas.
Follow-up RC Drilling Program and IP Survey:
A follow-up RC drilling program is planned for H2 2024, utilizing information gained from the recent drilling to systematically test highly prospective geological targets at Meadows prospect.
A detailed ground IP survey is also planned for later in 2024 to refine targeting approaches. This survey will help identify sulphide haloes around orebodies, providing cost-effective identification of mineralization.
Project Location and Tenure:
The Ernest Giles project is located approximately 250km north-east of Laverton and covers a folded belt of magnetic greenstone rocks typical of the highly gold and nickel endowed parts of the Archean Goldfields of Western Australia.
Greatland's tenure at Ernest Giles comprises a comprehensive holding over the most prospective near-surface portions of the Ernest Giles belt, covering more than 1,950km2.