Greatland is well financed to pursue several ambitious exploration campaigns across its exciting portfolio of 100% owned projects in 2018. We expect Greatland to capitalise on successful campaigns at Ernest Giles, Havieron and Panorama this year, and to launch field exploration at the recently acquired Black Hills gold project. In May 2017, Greatland signed an agreement granting Newmont Exploration access to the Ernest Giles project tenements and exploration data for six months, with a right of first refusal on any deal during that period. While it is clearly disappointing that Newmont has not pursued the opportunity further, the group’s involvement defined a new large gold anomaly and Greatland remains committed to an exploration programme using Newmont’s survey results. In our view, Ernest Giles remains an exciting project in which a methodical exploration campaign, using the latest available technology, is gradually unveiling what could be a major new goldfield in the Yilgarn block.
Greatland Gold had already taken significant steps in its systematic exploration campaign of the very promising buried greenstone discovery at the Ernest Giles project. Newmont’s subsequent DSG (Deep Sensing Geochemistry) survey outlined a significant anomaly which has yet to be tested by drilling.
Initial sampling and geological mapping by Greatland at its Panorama project has confirmed the extent and strength of anomalous gold associated with coarse sandstones and conglomerates.
Two of the three Greatland licences in the area of Proterozoic rocks of the Paterson Orogen are highly prospective for Iron-Oxide-CopperGold. Historical exploration at the Black Hills project, which Greatland acquired last November to add to its Paterson project, has outlined a similar style of mineralisation to the nearby Telfer gold deposit offering the potential for high grade gold near surface at Black Hills.
The potential for definition of an economically viable orebody is excellent at Firetower, and the near-surface nature and topographic location of the mineralisation is well-suited to open cast mining.
Work at Warrentinna, mainly concentrated at the Derby North prospect and the old Golden Mara Mine, has confirmed the nature of gold mineralisation, and suggests that viable open-pit reserves could be generated by additional drilling.