goldstone or greatland gold?, page-2

atm this is all I can find - http://www.4-traders.com/GREATLAND-...-Firetower-Gold-Project-In-Tasmania-18537911/

Greatland Gold : Unity Mining Announces Drilling Underway at Firetower Gold Project In Tasmania​

06/03/2014 | 09:55am US/Eastern​

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Highlights

• Diamond drilling underway at Firetower West

• Further work for Firetower gold prospect plus Quamby and Beulah areas

• Unity and Greatland agree extension of time to achieve 51% milestone under the Farm-In/JV agreement

Firetower Project, Tasmania

The Firetower project comprises four contiguous licences covering an area of 265 square kilometres in central-north Tasmania. The project is subject to a Farm-In agreement with AIM listed Greatland Gold plc (Greatland), whereby Unity may earn a 75% interest in via expenditure of $7 million.

During late 2013 and early 2014 a 3D IP ground geophysical survey was completed at the Firetower West prospect. The survey targeted copper/gold mineralisation in and around the edges of the Firetower West magnetic high. This work followed from holes drilled during 2007 and 2012 on the periphery of the anomaly which returned results including 1m at 2.65 g/t gold from 97 m and 1 m at 0.58% copper from 114 m in hole FTD32, and 5m at 0.76% copper from 57 m including 1 m at 1.44% copper in hole FTD33.

Data from the 3D IP survey was modelled. This outlined a strong, relatively shallow and consistent zone of chargeability approximately 800 m long and up to 400 m wide. The core of this zone will be tested with a single 300 m deep diamond hole, FTD43 which is currently being drilled. Results will be announced as they come to hand.

Farm-in agreement

The Firetower project is subject to a Farm-In agreement dated 7 Oct 2011 between Unity and Greatland. Under the agreement two milestones are required for Unity to earn an initial 51% of the project. The first milestone was to spend a minimum of $0.2 million within 12 months and this was duly completed. The second milestone was to spend $2 million within 30 months to earn 51%.

Unity advised Greatland that, due to a combination of impediments being primarily weather and the time required to interpret new geophysical data, it would not achieve the second milestone within the 30 month period (to 6 April 2014).

Unity remains keen to progress its exploration efforts at Firetower and a 12 month extension of time for the second milestone was agreed to by both parties and executed as a 'Deed of Variation'. Under this arrangement the extension, which allows Unity to earn 51% through completing expenditure of $2 million before 7 April 2015 (of which approximately $1.4M has already been spent), is conditional on Unity completing, to the satisfaction of Greatland, a defined exploration program including diamond drilling at Firetower West, diamond drilling at the main Firetower gold prospect, and percussion drilling within the Quamby and Beulah licences before 31 December 2014. To date, Greatland retains 100% of the project.