Greatland Gold has completed its maiden drilling campaign at the Paterson South project in WA.
The project is a farm-in and joint venture arrangement with Rio Tinto, which was announced on May 30.
“We are pleased by the results from our maiden drilling program at Budjidowns, within the Paterson South Project, where two high priority targets were successfully tested,” Greatland managing director Shaun Day said.
“The program has identified the presence of anomalous gold and copper as well as pathfinder elements which is encouraging and informative.”
Highlights from the drilling included finding peak gold assays from 305m and 435m, assay results showing moderately anomalous gold and copper in various narrow intervals and effective testing of the magnetic source of the Stingray and Decka targets.
The drilling has achieved the minimum commitment for the earn in by completing 2000m of drilling and $1.1 million of expenditure.
“The rapid commencement of drilling following execution of the joint venture with Rio Tinto Exploration is testament to Greatland’s commitment and ability to efficiently and safely explore the Paterson region, which we will continue across our expanded Paterson Province exploration portfolio,” Day said.
“Completion of this program successfully achieved the minimum commitment of our Rio Tinto Exploration farm-in and joint venture agreement more than a year ahead of the 31 December 2024 deadline.”
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