Greatland Gold, has announced that it has identified multiple gold targets at Ernest Giles East following the successful completion of Mobile Metal Ion (“MMI”) surface geochemistry and ground gravity surveys.
The Ernest Giles East exploration licences are 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.
- Multiple gold anomalies identified over 60 kilometres of strike at Ernest Giles East coincident with the prospective basement geology;
- Several clusters of MMI anomalies have been identified, with key clusters exhibiting a strike in excess of 9km long and up to 3km wide;
- Detailed analysis of the ground gravity results from this campaign, and the recently acquired detailed airborne magnetics, confirms the gold prospectivity highlighted by the latest MMI results.
The Eastern blocks of the Ernest Giles project cover approximately 600 square kilometres, including a large 80km long north-south trending sequence of rocks which represent an extension of the gold prospective Ernest Giles greenstone sequences. There has been virtually no modern exploration conducted at Ernest Giles East prior to this most recent campaign reported today.
Gervaise Heddle, Chief Executive Officer commented, “We believe these results further highlight the potential for the Ernest Giles gold project to be one of most significant gold districts to be identified globally within the last decade. These latest findings have significantly improved our understanding of the prospective geology of the Eastern block.
“The MMI sampling has identified several clusters of anomalies across multiple adjacent sample traverses, which is extremely encouraging given the traverses were spaced at 3.2 kilometre intervals. The work carried out further enhances the potential of the Ernest Giles project and confirms our previously stated view that the Ernest Giles project has the potential to host several multi-million ounce deposits.”