Greatland Gold shares were up 1% to 9.9p in late morning trading on Thursday following the commencement of its exploration programme at the Scallywag project, leveraging its understanding of geological information and knowledge of the area to drill a series of promising new conductor targets.
Greatland Gold commented the drill programme was designed to test ground electro-magnetic (EM) conductors for Telfer-style mineralisation at the Pearl, Swan and Swan East targets.
“We are excited to accelerate Greatland’s exploration programme and commence on the ground activities at our 100% owned projects in the Paterson province of Western Australia, regarded as one of the world’s most prospective frontiers for the discovery of multi-cycle, tier-one gold-copper deposits,” said Greatland Gold managing director Shaun Day.
The company noted that its Ultra Fine Fraction soil sampling geochemistry results were currently being integrated into its regional geological interpretation and targeting framework.
The firm also mentioned its ongoing review of ground EM geophysics data and its 2020 airborne EM to enhance targeting and and identify further aerial anomalies for ground EM follow-up, alongside further analysis of the drilling results from 2021 and 2020 and their integration into ongoing basin-wide geophysical and geological modelling to drive further targeting.
Greatland Gold confirmed heritage clearances had been completed, and access and drill pad clearing had kicked off ahead of the Scallywag drill programme.
Meanwhile, the company said its maiden exploration programme had been planned for identified targets at the recently acquired Rudall and Pascalle licenses.
Greatland Gold reported heritage approvals had been completed, with access planning underway. The Rudall operation is set to be co-funded by a government grant.
According to Greatland, both licences sit in prime locations, with Rudall located 20 kilometres south-southeast of the Haverion gold-copper resources and Pascalle based between Haverion and the Newcrest Mining Telfer gold mine.
“The 2022 campaign at Scallywag follows encouraging exploration results reported last year, where four of seven holes intercepted gold mineralisation,” said Day.
“The maiden drill programme at our newly acquired Pascalle and Rudall tenements is equally significant with Rudall considered to be prospective for Havieron and Telfer style gold-copper occurrences, while Pascalle sits directly between the two world class discoveries of Havieron and Telfer.”
“We look forward to unlocking value by systematically progressing exploration through these Havieron and Telfer like priority targets to take advantage of our strong position in this prospective region.”