Greatland Gold PLC (LON:GGP) has found gold nuggets along a longer stretch of its Panorama project in Western Australia and geochemical and geophysical work is continuing to further extend the known area of mineralisation.
The AIM-listed company, which wholly owns the three adjoining exploration licences in the Pilbara region that form the Panorama project, has found “numerous” gold nuggets in more than 10 locations, extending the length of the surface ‘strike’ from 3.2km to 4.3km.
Greatland said the mineralised zone remains open to potential extension in a south-westerly direction and it will carry out further reconnaissance activities and systematic surface geochemical sampling before the end of July.
The company will also kick off a detailed, low level aeromagnetic survey across the entire Panorama project next week, covering roughly a total flight-line of 8,000km at a line spacing of 50m.
“The discovery of numerous gold nuggets in multiple locations within the first week of the new field campaign at Panorama represents a very exciting start to this campaign and further confirms our belief in the significant potential of this project,” said chief executive Gervaise Heddle.
He said the geochemical and geophysical campaign “represents a step up in the scale of exploration previously conducted at this project” and he felt these early results support the decision to accelerate the pace of exploration activity.
Greatland shares rose 8% on the news to 1.71p on Monday afternoon.