Greatland Gold identifies anomalies at Western Australian asset

Australian-focussed mineral exploration and development company Greatland Gold has identified new anomalies at its Panorama project in Western Australia, confirming the presence of gold in the site's southern licence.

Greatland discovered two clusters of gold anomalies that ran concurrently with the Mt Roe basalt and other adjacent conglomerates.

One cluster was identified in stream sediment samples with results showing between 38 and 76 parts per billion (ppb) of gold over a strike length of one kilometre, with a further strike of five kilometres remaining untested.

The second cluster was found in soil samples and extended more than 200 metres along the Mt Roe basalt.

On its northern licence, rock chip sampling returned results of up to 18.45 grams per tonne of gold, confirming Greatland's historical data and indicating a potential high-grade zone of gold mineralisation approximately 3.2km long.

Chief executive Gervaise Heddle said: "The results of the exploration campaign are an affirmation of management's belief in the significant potential of the Panorama project. These results provide us with a good foundation to move ahead with a more extensive exploration programme in 2018."

At 1145 GMT, the shares were down 0.8% to 1.79p.