Greatland Gold plc (AIM:GGP) has applied for a new exploration licence to expand its landholding at the Ernest Giles gold project to more than 2,000 kilometres.
If the licence application is successful, the Eastern blocks of the Ernest Giles project (“Ernest Giles East”) will total approximately 800 square kilometres, covering a large 90 kilometre long north-south trending sequence of rocks which represent an extension of the gold prospective Ernest Giles greenstone sequences.
The Ernest Giles gold project is currently under an agreement with Newmont Exploration Pty Ltd, a subsidiary of Newmont Mining Corporation (NYSE:NEM), providing them with access to the project tenements and exploration database, as well as the right of first refusal should Greatland wish to sell or joint venture the project, as stated in the announcement of 16th May 2017.
- Greatland hopes to significantly expand the Ernest Giles East gold project by applying for an additional exploration licence covering a further 200 square kilometres that, in the opinion of Greatland, is highly prospective for gold mineralisation;
- Mobile Metal Ion (“MMI”) sampling recently identified several clusters of gold anomalies at Ernest Giles East, as announced on the 11th October 2017, with key clusters exhibiting a strike in excess of 9km long and up to 3km wide;
- Two of the clusters identified as high priority targets for follow up work lie adjacent to the border of Greatland’s existing licence application (E38/3235, “Westwood North”) and the new application (E38/3277 “Empress Springs”).
Gervaise Heddle, Chief Executive Officer, said “Recent MMI sampling carried out at Ernest Giles East, as announced earlier this month, highlighted the significant exploration potential of the Eastern blocks of the Ernest Giles project. If granted, the new licence area further strengthens Greatland’s dominant position across the Ernest Giles greenstone belt. As demonstrated today, our first mover advantage in this new gold province, combined with our commitment to active grassroots exploration, allows us to identify and quickly secure new opportunities.”