Thursday 25th April 2019 Font size:

Greatland Moves Forward with Drilling Plans for Firetower Project in Tasmania

Tuesday, April 16th, 2019

Systematic, 15-drill hole campaign to test the continuity and depth of mineralisation at Firetower and a new, untested target at Firetower East identified by last year’s 3DIP survey

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce details of a new drilling programme at its 100% owned Firetower project in Tasmania, Australia. The new drilling programme will test targets at Firetower and Firetower East that were outlined by the results of a 3D Induced Polarisation (“3DIP”) survey conducted by Greatland in 2018.

Results of the 3DIP survey highlighted a large chargeability anomaly, approximately 1,000 metres long, traversing east-west across the Firetower prospect and open to the east and at depth. Significantly, the results illustrated that the existing sub-surface gold mineralisation identified in drilling to date at Firetower is spatially associated with the 3DIP chargeability anomaly.

Highlights

  • Key objectives of the drill programme are:
    • Firetower prospect: to test strike continuity and potential depth extensions of mineralisation as guided by recent 3DIP inversions;
    • Firetower East prospect (500m east of Firetower): to test 3DIP chargeability anomaly along strike from Firetower prospect in an area previously undrilled.
  • Systematic, grid-based drilling to test the centre of the chargeability anomaly at Firetower which is located approximately 150m below surface (previous drilling in the area has only been to maximum depths of approximately 100m).
  • Programme will consist of approximately 15 drill holes on five north-south traverses, with drill hole depths ranging from 75 metres up to 250 metres, for total of more than 2,000 metres.
  • Additional holes to test a previously undrilled area at Firetower East which was identified by the 3DIP survey and has been selected for drill testing as it displays geological and geophysical features similar to those seen at the Firetower prospect.
  • Field activities are expected to commence in late May subject to the receipt of all required regulatory approvals.

Gervaise Heddle, Chief Executive Officer, commented: “We are very pleased to announce that we are on target, as mentioned in our interim results, to move forward with a new drilling programme at our Firetower gold project in Tasmania. This programme is designed to further advance this exciting gold project and is in line with our stated strategy of focusing on those assets which have the potential to deliver significant shareholder value in the medium term.

“This programme represents an important opportunity not only to test the continuity and depth of mineralisation at Firetower itself, but also to drill an area to the east not previously drill tested, where last year’s 3DIP survey outlined a large chargeability anomaly. This will determine whether the spatial association between the chargeability anomaly (as identified by 3DIP) and mineralisation continues as we step out along strike.

https://greatlandgold.com/
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