Greatland intersects high-grade gold mineralisation in Pinnacles drilling

(Sharecast News) - Greatland Resources said on Monday that step-out drilling at the Pinnacles prospect had intersected wide, high-grade gold mineralisation, indicating a potential southern extension of the geological structure that hosts the West Dome Underground resource at Telfer. The AIM-traded company said diamond drill hole WRC14503A, drilled from surface to 1,858 metres, was designed to test a potential extension of the structures and stratigraphy hosting West Dome Underground, around 1.2 kilometres south of the current mineral resource estimate.

It said the hole intersected 58.7 metres at 6.5 grams of gold per tonne and 0.1% copper from 1,754 metres, including 37 metres at 9.98 grams of gold per tonne and 0.14% copper.

A further intercept of 34.1 metres at 1.1 grams of gold per tonne was recorded from 1,820 metres.

Greatland said the main intercept was approximately true width and was among the best results achieved from West Dome Underground drilling to date.

The mineralisation remained open to the north towards the existing resource and to the south, which is entirely untested.

Greatland said the new intercept was around 1.5 kilometres from Telfer's existing underground crusher and hoist infrastructure, a similar distance to the current West Dome Underground resource.

The firm announced a maiden mineral resource estimate for West Dome Underground in March, comprising 8.0 million tonnes at 2.30 grams of gold per tonne and 0.44% copper for 0.6 million ounces of gold and 35,000 tonnes of copper.

Managing director Shaun Day said the result demonstrated the potential extension of West Dome Underground mineralisation to the south of the current resource.

"The wide high-grade mineralisation, including 58.7 metres at 6.5 grams of gold per tonne and 0.1% copper, or 381.6 gram-metres gold, is among the best intercepts achieved from West Dome Underground drilling to date," he said.

"While the result is a single drill hole, it demonstrates the potential extension of West Dome Underground mineralisation to the south of our current resource.

"This new intercept is in similar proximity to our existing underground crusher and hoist infrastructure as the current West Dome Underground resource, further adding to its prospectivity."

Greatland said it was planning at least three wedge holes from WRC14503A to test mineralisation between 50 and 100 metres along strike and down dip.

It was also considering further drilling between Pinnacles and West Dome Underground, as well as extension drilling further south of Pinnacles.

At 1304 BST, shares in Greatland Resources were down 0.59% at 773.39p.

Reporting by Josh White for Sharecast.com.

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