Greatland Gold PLC (AIM:GGP, OTC:GRLGF, FRA:G8G)’s first results from its Juri joint venture in the Paterson province in Western Australia has made an encouraging start with gold identified in assays from the first four holes.
SP Angel noted that the initial drilling at Juri intersected gold mineralisation at both the Saddle Reef and Goliath targets.
Newcrest is again Greatland’s partner in the exploration programme, the same combination that is developing the huge gold find at Havieron also in the Paterson region.
The initial drilling totalled 4,958m testing five targets in nine holes with assay results pending for a further five drill holes.
The company is planning a programme of ground electro-magnetic geophysics during September to narrow down future targets.
Results from the remaining drill holes at Los Diablos, Parlay and Saddle Reef and sections of the Outamind are expected next month.
Shares were 18.5p, valuing the Aussie-focused miner at around GBP700mln.