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03 Sep 2018 | 10:30

Greatland Gold set to begin second drilling programme in mid-September

Greatland Gold said Monday it would commence its second drilling campaign in mid-September at the Havieron project.

The drilling programme would consist of ten core holes to 600 metres each for a total of 6,000 metres, as the company seeks to further determine the extent and the direction of the high grade zone of mineralisation at Havieron.

DDH1 Drilling, an Australia's mineral exploration drilling provider, had been re-appointed to conduct the upcoming drill programme after their successful execution of Greatland's first drill programme at Havieron earlier this year, the company said.

DDH1 had agreed to accept part payment of its drill programme fees in the form of shares and warrants in Greatland.

As well as a payment of £0.142m, Greatland is expected to issue to DDH1 11,363,636 ordinary shares of 0.1p each in Greatland Gold, and issue 11,363,636 warrants with a 2.0p exercise price and an exercise period of 12 months.

'We are delighted to be working with DDH1 again. They very successfully conducted our maiden drill campaign at Havieron earlier this year, which yielded excellent results' said Gervaise Heddle, Chief Executive Officer.

At 10:30am: (LON:GCP) GCP Infrastructure Investments Ltd share price was +0.4p at 123.8p

Story provided by StockMarketWire.com
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