Greatland Gold Plc
Friday, November 30th, 2007
Greatland Gold plc the mineral exploration and development company focused on gold projects in Tasmania and Western Australia announce a further update of recent activities and analytical results.
â€œAt the Warrentinna project, gold mineralisation continues to be outlined at the Forester and Warrentinna goldfields with recent surface rock chip sampling returned up to 14.4g/t gold and 11.9g/t gold, and soil sampling to 36.4ppb gold,â€ confirms Callum Baxter, managing director of Greatland Gold. â€œThese results extend and better define previously identified mineralisation, and also confirm mineralisation in areas not previously recognised.â€
Work has continued at the Warrentinna project and focussed on the goldfields of Forester and Warrentinna. More specifically, further surface sampling efforts at the Linton and Derby areas have yielded results over 10g/t gold from both goldfields.
The Forester goldfield hosts the Malabar and Linton workings where a north-northeast trending zone of gold mineralisation has been outlined over a strike length of some 6km. The latest rock chip sample results from vein mineralisation north of the Linton workings were positive, up to 14.36 g/t Au. Soil sampling north of Linton and, additionally, near Malabar returned a maximum 36.4 ppb gold and 26.5ppb gold. Results confirm the presence of mineralisation of reasonable tenor over a large area.
The Warrentinna goldfield is defined by numerous historic workings. Mineralisation has been outlined over a strike length of approximately 6km through clusters of workings including the areas of Golden King, Golden Mara, Derby, Golden Dyke and Renown. Recent rock chip sampling from north of Derby reported gold including 11.90g/t, 1.74g/t and 1.26 g/t. These results were from an area of no known workings and indicate a new line of lode.
Further work at the Forester and Warrentinna areas will include the selection of drill targets and drill program planning, with a view to commencement of Reverse Circulation (RC) drilling early in 2008.
Strike extensions to geology hosting mineralisation at the Firetower project are present within additional tenure applied for by the Company earlier this year. Recent appraisal of the additional tenure has resulted in the delineation of several mineralised areas. These will be subject to more detailed field work in the coming quarter.
Interpretation of data from the Firetower resource area has confirmed a number of target areas for further drilling. Locations for additional drill holes are at hand and further diamond drilling will commence as soon as possible.
The Lackman Rock project is located in southern Western Australia and is prospective for gold and nickel sulphides. Field programs, including geological mapping and a comprehensive auger sampling program, are scheduled for the current field season.
Greatland Gold owns 100% of all projects in its portfolio. These projects are located in Australia with low political risk and well established mining culture. All mandatory government expenditure commitments for 2007 have been met for all projects.
The company currently holds ample cash to fund its active exploration and corporate activities into 2008. As such the Company is well positioned to capitalise on the positive results achieved to date in a climate of increasing commodity prices, particularly with respect to gold.
For further information visit: www.greatlandgold.com