wow just wow- cant believe that pivotal information was put out last Thursday 24/7/14 on our jv regarding the firetower
project and yet unity have reported absolutely nothing in terms of a announcement or even on their news feed on
their own website- seriously guys just put it out there- we need some momentum of announcements to get this baby
getting ticks on the board - really really concerned that they didn't find it important enough to announce - however
small the announcement might of been- thumbs up if you agree and appreciate- just noticed no-one else picked it up
there was a reason why I was asking about this from people on this forum because I cant explain why we don't
announce on this project, give or take, I know we have not met all contractual agreements yet for our 50% stake, but
for pete's say, it was Unity that did the drilling+fyi we have an extension till april2015 which unity clearly are keen to
meet by continuing work at firetower- email sent to board either way
Encouraging Core Drilling at Firetower
Greatland Gold plc, the mineral exploration and development company based in Australia, is pleased to announce that following core drilling at the Firetower gold project, significant sulphide mineralisation has been intersected. Highlights
Core drilling completed by Unity Mining Ltd (Greatland Gold’s Farm-In partner) at Firetower West to a total depth of 410m.
Significant sulphide mineralisation of up to 30% intersected in drill hole.
Host sequence of Firetower stock work vein gold mineralisation intersected for +70m from 140m downhole.
Laboratory analysis of core underway and awaiting results.
Callum Baxter, CEO, commented: “The quantity of sulphide mineralisation in this drillhole is exciting. Our partners Unity Mining identified a geophysical anomaly and have successfully tested it. Also, the drill hole has intersected over 70m of the rocks which host the Firetower stock work vein gold mineralisation. We eagerly await preliminary analytical results from the drill core which are likely to be available during August.” Firetower Project (gold), 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 dated 7 Oct 2011, whereby Australian Stock Exchange (“ASX”) listed Unity Mining Limited (“Unity”) may earn up to 75% equity in the licences via expenditure of A$7m.
During late 2013 and early 2014, a 3D IP ground geophysical survey was completed at the Firetower West prospect. Data from the 3D IP survey was modelled which outlined a strong, relatively shallow and consistent zone of chargeability approximately 800m long and up to 400m wide. The primary part of this zone was tested with a single 410m deep core hole (FTD043) originally planned for 300m total depth.
It is pleasing to report that significant sulphide mineralisation was intersected in FTD043. This successfully validates the modelled electrical response seen in the 3D IP survey. From 84m to approximately 398m downhole disseminated and semi-massive sulphides were present in amounts up to 30%. Sulphide mineralisation was predominantly pyrite with lesser chalcopyrite. Haematite, magnetite and carbonate alteration was common with brecciation and foliation of the host rocks.
Along with significant amounts of sulphide mineralisation the drill hole appears to have intersected over 70m of the host sequence to stock work vein gold mineralisation at the Firetower gold deposit. This appeared from a relatively shallow 140m to 213m downhole. The Firetower West drill hole lies approximately 3.5km north east of the Firetower gold prospect.
All drill core has been cut and laboratory analysis for the entire hole is underway. Preliminary results have been received for the top 45m of the drill hole with no significant results, as expected. The core for the remaining 365m of the hole, which includes the primary target zone, is currently with the laboratory for analysis. Final results are likely to be available during August and further announcements will be made in due course.
