Greatland Gold acquires Black Hills gold project
Greatland Gold plc (AIM:GGP) has acquired 100% of the Black Hills gold project in the Paterson Region of Western Australia for A$225,000.
- Greatland acquires 100% of the rights, title and interest in the mining tenement E45/4512 (the “Black Hills gold project”);
- The Black Hills gold project covers 25 square kilometres in the Paterson region and sits adjacent to the north western border of Greatland’s Havieron licence;
- Historical work at Black Hills by Newcrest Limited has demonstrated high grade gold at surface with rock chip results up to 90g/t gold and drill intercepts including 4m at 7.0g/tgold from 25m;
- The Black Hills project is regarded as having high potential for hosting gold deposits similar to Newcrest’s Telfer Mine; and
- The acquisition increases the size of Greatland’s Paterson project to more than 385 square kilometres prospective for iron-oxide-copper-gold (“IOCG”) and Telfer style deposits.
The Black Hills gold project is located in the Paterson Region of Western Australia and lies adjacent to the Company’s Havieron licence. Previous work by Newcrest Limited has outlined several zones of gold mineralisation in rocks equivalent to those of the large Telfer gold deposit (27m oz) which lies 30km to the west. Surface rock chip samples from Black Hills have returned up to 90g/t gold. Historical drilling is wide spaced (drill holes at least 400 metres apart), with intercepts including 4m at 7.0g/t from 25m. Management believes that the gold prospects identified to date on the Black Hills licence may extend into the north western portion of Greatland’s Havieron licence.
Gervaise Heddle, Chief Executive Officer, said “Black Hills represents an important strategic addition to Greatland’s significant and expanding position in the Paterson region. Historical exploration at Black Hills has demonstrated high grade gold near surface and the potential for the Black Hills licence to host gold deposits similar to Telfer. The acquisition is a continuation of our strategy to target under-explored areas with significant potential and to increase the scale of the Company’s exploration campaigns at our key projects.”