By Samuel Indyk
Investing.com – Greatland Gold (LON:GGPL) announced on Tuesday that it has commenced drilling at its 100% owned Scallywag licence as part of its multifaceted exploration programme in the Paterson province of Western Australia.
The AIM-listed company said it has received regulatory permits and begun testing multiple new targets at Scallywag following analysis of results of a Heliborne Electromagnetic (EM) survey conducted in 2020 and further geological interpretation of regional aeromagnetic and gravity datasets.
The metals mining and exploration company said multiple conductors were identified following a detailed analysis of Heliborne EM. This included Swan, a strong airborne EM conductor located in an interpreted fold structure with coincident gravity anomaly developed adjacent to, or truncated by, a crustal scale fault; and A34, A35 & A36, which were discrete segments of strongly conductive material coincident with a positive gravity response.
The first pass programme comprises eight holes for 4,500 metres, with heritage clearances and statutory work permits now in place. Ground EM will commence in the coming weeks.
Additional nearby new targets were also identified from ongoing geological interpretation.
“We are excited to have commenced our drilling campaign at Scallywag, which is focused on a number of high-priority targets in ground adjacent to Havieron,” said Greatland Gold Chief Executive Officer Shaun Day.
“These targets have been selected due to their compelling geological characteristics borne out across multiple datasets and analysis, particularly the EM survey conducted last year.”
At 09:01BST, shares in Greatland Gold were trading higher by 2.7% at 17.42 pence per share.