LONDON (ShareCast) - (Sharecast News) - Precious and base metals exploration firm Greatland Gold on Monday announced that it has identified four distinct zones of gold mineralisation at its wholly owned Black Hills licence in Western Australia.
The zones, identified through a comprehensive review of historic data, could be targeted by the site's first exploration programme which Greatland said will commence within the next few weeks.

Gervaise Heddle, chief executive of Greatland Gold, said: "Our first exploration programme at Black Hills marks another important step for Greatland. Sitting near the 27 million ounce Telfer gold deposit and hosting an equivalent style of mineralisation, Black Hills represents a compelling and high priority exploration opportunity for the company."

The company said the historic data highlighted the potential for high-grade, near-surface gold mineralisation at the Saddle Reefs, Eastern, Rogers and Northern Granites prospects at Black Hills.

At the Saddle Reefs prospect for instance, strong surface gold mineralisation is present, with rock chip results including 55.6g/t, 20.0g/t and 19.65g/t, over an area of around 1,400m by 800m.

"Results from our forensic review of the historic data have further highlighted the licence's prospectivity for multiple zones of high-grade, near-surface gold mineralisation. Importantly, this means that exploring Black Hills' potential will be a relatively low-cost and low-risk endeavour, but one with substantial potential upside," said Heddle.

As of 1603 BST, Greatland Gold's shares were up 10% at 0.61p.

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