By Samuel Indyk
Investing.com – Greatland Gold Plc (LON:GGPL) has applied for two new exploration licences adjacent to its existing licences at the Ernest Giles project in Western Australia.
The UK-listed precious metals exploration company said the two applications of Mount Smith and Welstead Hill would cover a total area of 1,070km2 and will join the existing tenure at the Ernest Giles project.
If granted, the new exploration licences would increase the footprint of the Ernest Giles project from 880km2 to 1,950km2.
“The new licences represent an excellent opportunity to double the size of our footprint across the underexplored Ernest Giles greenstone belt,” said Greatland Gold CEO Shaun Day. “Following a detailed internal review of exploration data, we have identified compelling structural targets in an area containing dense and magnetic units of Archean greenstone sequences, with potential for gold, nickel and base metals mineralisation.”
“This aligns with our strategy to seek to discover Tier 1 deposits both through the ramp-up of exploration activities across our existing 100% owned licences and by identifying new opportunities that can bring value to Greatland. We look forward to reporting progress on the two applications in due course," Day added.