Greatland Gold (GGP ) has identified two priority targets that the company says are analogous to the magnetic and gravity anomaly associated with the Havieron gold-copper deposit.
These two priority targets, which the London-listed company has described as ‘Havieron lookalike targets’, are situated within the Canning licence application and the adjacent Paterson South tenements which Greatland Gold acquired earlier this year in September.
In mid-September 2021, Greatland entered an agreement with Province Resources to acquire the 100% owned Pascalle tenement, the 100% owned Taunton tenement and two tenement applications for exploration licences within the Paterson Province of Western Australia.
The agreement marked Greatland’s first licence acquisition since Havieron and added over 1,000km2 of exploration ground in the Paterson region thereby expanding Greatland’s strategic footprint in one of the most prospective exploration areas for gold-copper deposits.
Today, the Company explained to investors that the first target identified in Paterson South comprises a strong gravity and near coincident magnetic anomaly while the second target within the Canning licence comprises a strong coincident gravity and magnetic anomaly.
The Company noted that both targets are analogous to the magnetic and gravity anomaly associated with the Havieron gold-copper deposit, and follow-up exploration is warranted.
Greatland said its next steps will be to confirm the historical gravity data and remodel the gravity and magnetic data, with the aim of targeting drill holes for one or both targets.
Commenting on the target discoveries, Shaun Day, CEO of Greatland Gold said: “These targets, which have never been drilled, are exciting opportunities situated within our expanded holdings in the Paterson district. Both show strong magnetic and gravity anomalies, with characteristics analogous to the magnetic and gravity signature developed over Havieron.”
“We consider these bullseye targets significant and exciting additions to our growth portfolio as we seek to discover further tier-one gold-copper deposits in the Paterson province.”
He added that, as with Havieron, the new targets, which sit under cover and remain untested, will allow Greatland to identify prospective Telfer, Winu and Havieron style mineralisation.
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