Greatland Gold expands its land position in the highly prolific Paterson region of Australia
Greatland Gold PLC (LON:GGP) has received notification from the Western Australian Department of Mines, Industry Regulation and Safety that it has won a government conducted ballot in regard to an application for a fourth exploration licence in the Paterson region, known as Rudall.
Greatland is in a strong financial position with approximately £6mln in cash as at June 30, 2020, and remains well-financed to conduct all planned activities over the next 12 months.
Sentiment surrounding progress at its jointly-held Havieron licence remains high.
The Rudall licence application covers an area of approximately 65 square kilometres and is located 20 kilometres south-southeast of Havieron.
The new licence will expand Greatland’s landholding in the Paterson region from 385 square kilometres to 450 square kilometres, and is considered to be prospective for Havieron and Telfer style gold-copper occurrences.
Meanwhile, drilling is expected to commence at Greatland’s 100%-owned Scallywag prospect area within the next four to six weeks, subject to receipt of heritage approvals.
The drilling campaign will initially focus on high-priority targets within the Scallywag prospect area including Kraken, Blackbeard and London.
Once the initial phase of drilling is complete at Scallywag, the company expects to drill additional high-priority targets on its Paterson Range East licence including Goliath and Los Diablos.