Ernest Giles Project : Greatland Gold begins drilling at Meadows gold prospect

Greatland Gold plc (AIM:GGP) has announced the commencement of drilling activities at the Meadows gold prospect, located within the Ernest Giles Project (Ernest Giles).

Key Highlights:

1. Underexplored Archean Greenstone Belt: Ernest Giles is situated in the highly mineralized Yilgarn Craton of Western Australia, boasting an underexplored Archean greenstone belt.

2. Diamond Core Drilling Initiated: A drill rig is already on-site, kicking off diamond core drilling at the highly promising Meadows gold prospect.

3. Swift Mobilization: Heritage surveys and mobilization were swiftly completed after entering the Ernest Giles Land Access Agreement (LAA) in September 2023.

4. Government Support: The first two diamond holes are co-funded by the Government of Western Australia’s Exploration Incentive Scheme (EIS) drilling grant, with potential funding of up to A$220,000 (£115,000).

5. Geological Insights: The current drilling program builds on previous work, providing crucial geological and structural information for a planned systematic reverse circulation drill program in 2024.

Greatland Managing Director, Shaun Day, expressed optimism about the project, stating, “We are very pleased to be drilling the high-priority Meadows gold prospect at Ernest Giles following the conclusion of the Land Access Agreement. Ernest Giles represents an excellent exploration opportunity for Greatland and our shareholders.”

The Ernest Giles Project, situated approximately 250km north-east of Laverton, encompasses a folded belt of magnetic greenstone rocks, typical of the gold and nickel-rich Archean Goldfields of Western Australia. Despite its potential, the greenstone sequence at Ernest Giles remains underexplored compared to other parts of the Goldfields.

Greatland Gold holds a substantial tenure over the most promising near-surface sections of the Ernest Giles belt, spanning more than 1,950km2.

Previous exploration efforts at Ernest Giles included 62,800m spaced vertical RC drillholes, primarily focused on the Meadows prospect. Gold mineralization is hosted within altered mafic volcanic, banded iron formation (BIF), and syenite, with promising results previously reported.

The ongoing drilling program, supported by EIS, will target critical mineralized zones and provide valuable geological insights. It aims to confirm gold mineralization, investigate structural aspects, and explore a broader section across strike.

Further work includes airborne geophysics to enhance the understanding of the entire Ernest Giles belt. A subsequent RC drilling program will be designed based on insights gained from the current initiative, scheduled to begin in the 2024 calendar year.