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Greatland Gold PLC

Greatland Gold unveils new drilling programme at Firetower project

The exploration firm said the drilling would test targets at Firetower and Firetower East that were identified from geophysical imaging last year

Gold and money
An anomaly of 1,000m had been identified from the survey, with sub-surface gold mineralisation in previous drilling lining up with the data

Greatland Gold PLC (LON:GGP) has announced a new 15-hole drilling programme at its Firetower project in Tasmania, Australia.

The exploration firm said the drilling would test targets at Firetower and Firetower East that were identified from geophysical imaging conducted by the company last year.

READ: Greatland Gold outlines its strategy and exploration priorities for 2019

An anomaly of around 1,000m had been identified from the imaging survey, Greatland said, with sub-surface gold mineralisation found in previous drilling lining up with the data.

The drilling itself would focus on the location of the anomaly around Firetower, while the drilling at Firetower East would test a previously undrilled area that displayed similar geological features.

Field activities for the programme are expected to begin in late May following regulatory approval.

Gervaise Heddle, chief executive, said the programme was “an important opportunity” to test the mineralisation at Firetower as well as the previously undrilled area.

“This programme is designed to further advance this exciting gold project and is in line with our stated strategy of focusing on those assets which have the potential to deliver significant shareholder value in the medium term.”

In mid-morning trading Tuesday, Greatland shares were up 0.2% at 1.7p.

Quick facts: Greatland Gold PLC

Price: £0.02

Market: AIM
Market Cap: £62.47 m
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