LONDON (ShareCast) - (Sharecast News) - Precious and base metals exploration and development company Greatland Gold announced that results of a 3D induced polarisation (3DIP) survey on Monday, saying they identified a large, buried geophysical target at the Saddle Reefs prospect, located in its 100%-owned Black Hills licence in the Paterson region of Western Australia.
The AIM-traded firm said the body lay subparallel to the strike of gold mineralisation identified at surface.

It said the 3DIP survey included the collection of high quality induced polarisation data, which was used to generate 3D inversion models.

The results reportedly outlined a large, coherent conductive body over 1,000m of strike, spatially coincident with gold mineralisation identified at surface.

Greatland said the conductive body had dimensions of approximately 1,000m long, 200m wide and 150m thick, and was open to the south-east.

Depth to top of the body ranged from 150m to 200m below surface - a depth which was "virtually untested" by historic drilling in the Saddle Reefs area.

The company said the 3DIP models had been reviewed in conjunction with surface geochemical and geological information at Saddle Reefs, and drill targets had been selected to test the orientation and tenor of gold mineralisation.

"We are very excited by the excellent results from the 3DIP survey at Black Hills which has outlined a large, new and virtually untested gold target at the Saddle Reefs prospect," said Greatland Gold chief executive officer Gervaise Heddle.

"Saddle Reefs has the potential to host gold mineralisation from surface to significant depths, and these results reinforce our view that it represents a high priority exploration target for us.

"The prospectivity of the Paterson region has attracted the attention of major industry players and we look forward to a busy exploration season in the Paterson region next year which will include Greatland's first drilling campaign at Black Hills."

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