Greatland Gold(AIM:GGP) issued a wide ranging update on activities from its gold and base metal projects in Tasmania and Australia. The company has been advancing a number of grass roots and advanced exploration projects.
At the Warrentinna project, which hosts multiple targets including the Warrentinna and Forester Goldfields, the company said that rock chip sampling continued to return high grade assays of gold and silver, and the company has now identified 6 kilometres of strike. In particular, at the Forrester Goldfield the company better defined the mineralised trend from rock chip samples as high at 44.6 grams per tonne only 150 metres north of the historical workings at the Linton mine. A 600 metres x 100 metre area also north of Linton was also outlined. Greatland intends to continue soil sampling and mapping to define drill ready targets. At the Warrentinna Goldfield additional encouraging results were found from rock chip sampling of previous trench and shallow workings. A 1.6 kilometre trend between the Derby and Golden Dyke historical workings returned high values of gold. Soil sampling and geological mapping is ongoing to identify more targets.
Meanwhile at Greatland's Firetower project, the company had received approval to extend its land position over a further 18 kilometres of ground that hosts similar geology to Firetower. Soil sampling and mapping work will start once the licence is officially granted.
Greatland Gold was also keen to remind investors that it was well funded (£2 million) to continue exploration for the next 24 months.
Shares in Greatland were marked up 10% to 2.625 pence.