Greatland Gold announces promising drilling results at Ernest Giles project

Greatland Gold plc, a prominent mining development and exploration company, has announced encouraging results from its drilling program at the Ernest Giles project, specifically within the Meadows Prospect. The exploration was co-funded by the Western Australia Government’s Exploration Incentive Scheme (EIS), marking a significant step forward in the company’s efforts to uncover precious and base metals.

The program successfully completed two diamond core (DD) holes, spanning a total of 1,267.7 meters, and returned anomalous gold mineralisation of 8m @ 0.12g/t Au from 316m in hole EGD006. This mineralisation was associated with alteration and anomalous pathfinder geochemistry, providing crucial geological and structural insights. These findings are pivotal for Greatland Gold plc as they refine the geological model at Meadows Prospect and plan a systematic reverse circulation drill program aimed at testing highly prospective targets later in the year.

Further to the drilling results, a ground induced polarization (IP) survey is scheduled for later in 2024 to refine target areas, alongside additional airborne geophysics studies. This comprehensive exploration approach is designed to build upon the initial encouraging results, which have confirmed the prospectivity of the project and informed further exploration work, including a more extensive drilling program within the year.

Greatland Managing Director, Shaun Day, emphasized the significance of these milestones, stating, “Completing the Land Access Agreement and EIS co-funded drilling at Ernest Giles is a significant milestone for the project, marking the first on-ground exploration in over five years.” He further noted the project’s exciting potential, situated in an underexplored Archean greenstone belt known for hosting many Tier 1 deposits.

The Ernest Giles project, located approximately 250km north-east of Laverton, encompasses over 1,950km^2 of the most prospective near-surface portions of the Ernest Giles belt. This area, characterized by its folded belt of magnetic greenstone rocks, remains largely underexplored, presenting a unique opportunity for Greatland Gold plc to uncover significant mineral deposits in a region known for its gold and nickel endowment.

The initial results from the Ernest Giles project are a testament to Greatland Gold plc’s strategic exploration efforts and their potential to uncover significant mineral resources. The company’s systematic approach to exploration, leveraging modern geophysical techniques and targeted drilling programs, positions it well to capitalize on the untapped potential of the Ernest Giles belt. As exploration progresses, the industry will keenly watch for further updates, which could significantly impact the understanding and valuation of this promising project.