GREATLAND GOLD (GGP) RENEWED INTEREST...BID TALK
Investment Directors and Fund Managers are reporting their 'increased' interest in an acquisition of Greatland Gold at discounted terms which will be favourable to SWFs and state enterprises. This is up from the previous 'passive/neutral' levels.
http://www.swfinvestments.net/london/greatland-gold-plc/EnterDatabase.htm
A gold deposit south of Devonport has strong potential for mining.
Parts of it have six times the gold grade that the Henty mine has recently produced.
The Firetower deposit has so far been defined as 400 metres long with a width of up to 80 metres.
The project comes under an agreement between Unity and London-listed Greatland Gold.
Unity is also continuing exploration efforts at Henty, on the West Coast.
It will focus exploration spending on resource extensions at its Read Zone.
The Firetower area is about 35 kilometres from Devonport.
Greatland Gold Reports Further Encouraging Drill results From The Warrentinna Gold Project30 Apr 2014
AIM-quoted Greatland Gold announced further drill results from the Warrentinna gold project in Tasmania last week.
The latest results come from a reverse circulation drill program consisting of three holes for a total of 300 metres which was conducted in December of 2013.
All three holes intersected mineralization and confirmed that the potential exists to discover further mineralization at depth at the Derby North prospect of Warrentinna.
Greatland Gold’s Warrentinna project is located in north eastern Tasmania and is comprised of two contiguous tenements totalling 113 square kilometres in area.
Four historically significant gold fields lie within the Warrentinna claims which were mined from surface and underground in the late 1800s to the mid 1900s.
Exploration work conducted by Greatland within the historical workings has returned results as high as 464 grams per tonne gold, confirming the high grades reported in historical records.
What’s more, the geology encountered in the Warrentinna district bears a striking similarity to that of the Victorian goldfields in south eastern Australia.
Those goldfields have been the subject of extensive mining and have yielded over 30 million ounces of gold since the 1850s. Given the similarities to Australia’s prolific gold region and the excellent results seen in the historical workings, Greatland has been conducting exploration work with a high degree of optimism.
Greatland’s first drill campaign at Warrentinna took place in 2008 and returned intercepts as high as 7.07 grams per tonne gold at the Derby North prospect.
Since then, the Derby North prospect has returned grades over 50 grams per tonne gold, further elevating enthusiasm for the target. That same prospect was the subject of the December 2013 program and the latest results, combined with previous assays, will form an important part of the company’s strategy of establishing resources across its portfolio of assets in Tasmania and Australia.
The three reverse circulation holes were drilled to a maximum depth of 100 metres and angled at 60 degrees. All three holes intersected gold mineralisation above 0.7 grams per tonne gold, including four metres at 3.19 grams per tonne gold from 92 metres, eight metres at 3.11 grams per tonne gold from 92 metres, and four metres at 2.16 grams per tonne gold from 32 metres.
What’s more, hole WTR032 of the program encountered mineralized structures 50 metres below a previous hole and bottomed out in mineralization which is presumed to continue at depth. The result suggests that vertical continuity in that area of the Derby North target is good, a positive result for the company as planning for a follow-up drill program for the project gets underway.
The gold mineralization encountered to date is coincident with quartz vein structures and disseminated sulphides. So far, work conducted by Greatland has established a strike length of 150 metres with a width of 100 metres, within which quartz reefs with higher gold grades occur.
Higher tenor gold grades can be expected from single metre sampling which will be conducted on the material from the latest program over the coming weeks. The results from the re-sampling program will be reported during the second quarter of 2014.
“Drilling efforts at our Warrentinna gold project continue to provide encouraging results”, said Greatland chief executive Callum Baxter.
“The tenor and widths of mineralisation are good and the potential for depth extensions is high. Warrentinna is a key project for Greatland Gold and these results are yet another step forward in our plan to establish resources across our portfolio of assets.” |
