LONDON (ShareCast) - (Sharecast News) - AIM-quoted base metals exploration and development company Greatland Gold has received approval from the Western Australian Department of Mines, Industry Regulation and Safety to drill a nickel sulphide test hole at its Carnegie licence.
Only one previous hole targeting the geophysical magnetic anomaly at Carnegie had been drilled which intersected mafic intrusive rocks at the end of the hole showing "strong haematite and magnetite alteration".

Analytical results highlighted the site's prospectivity, leading Greatland to plan reverse circulation drilling to a depth of 375 metres as part of its current drilling programme at Ernest Giles.

Greatland's drilling programme at Ernest Giles has now begun and will focus on three high-priority gold targets at the Meadows, Wishbone and Empress areas, as well as the nickel sulphide target at the Carnegie licence.

The programme at the Meadows area will consist of approximately twenty-four RC drill holes, while up to six RC holes will be completed at the Wishbone and Empress areas to test basement geology and physical rock properties.

Gervaise Heddle, Greatland's chief executive officer, said, "We are very pleased to be on schedule with our drilling campaign at Ernest Giles."

"Given the strong rise of the nickel price, which has nearly doubled in the past 12 months, this is an opportune moment to test our nickel target at Carnegie, particularly due to the encouraging results from our historical drill hole."

As of 1145 BST, Greatland shares had dropped 7.95% to 1.16p.

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