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Greatland Gold said it had intersected high-grade gold mineralisation from a maiden drilling programme at the Derby North prospect within its Warrentinna project in Tasmania, Australia.
Highlights included encountering 21.7 metres at 3.3 grams per tonne of gold, from 9.3 metres depth.
'These positive results from our maiden diamond drilling campaign at Warrentinna further increase the depth extent of the known mineralised zone and clearly demonstrate the potential for a significant gold mineralised system at Derby North,' chief executive Gervaise Heddle said.
'The drill core and associated data collected has greatly improved the company's understanding of the mineralised system and should assist with any potential divestment of the project.'
'Our immediate next step is to complete an evaluation of the results to assess the project's potential, referencing Orogenic-type gold occurrences in central Victoria which include the Fosterville and Bendigo gold deposits.'
At 1:08pm: (LON:GGP) Greatland Gold PLC share price was +0.43p at 3.83p