Greatland Gold announces 15-hole Australian drilling programme
By Duncan Ferris
Date: Tuesday 16 Apr 2019
(Sharecast News) - Greatland Gold on Tuesday confirmed a 15-hole drilling programme at its fully-owned Firetower project in Tasmania, Australia.
The drilling, which will commence in late May, will test targets at Firetower and Firetower East that were outlined by the results of a 3D Induced Polarisation ("3DIP") survey conducted by Greatland in 2018 that highlighted a large chargeability anomaly, approximately 1,000 metres long, traversing east-west across the Firetower prospect and open to the east and at depth.
Gervaise Heddle, chief executive of Greatland, said: "We are very pleased to announce that we are on target, as mentioned in our interim results, to move forward with a new drilling programme at our Firetower gold project in Tasmania. This programme is designed to further advance this exciting gold project and is in line with our stated strategy of focusing on those assets which have the potential to deliver significant shareholder value in the medium term."
Systematic, grid-based drilling will be used to test the centre of the chargeability anomaly at Firetower which is located approximately 150m below surface, with drill hole depths ranging from 75 metres to up to 250 metres, for a total of more than 2,000 metres.
Meanwhile, additional holes will be drilled to test a previously undrilled area at Firetower East which was identified by the 3DIP survey and has been selected for drill testing as it displays geological and geophysical features similar to those seen at the Firetower prospect.
Greatland Gold's shares were up 1.70% at 1.74p at 1139 BST.
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