new-recommended-broker-banner new-recommended-broker-banner

Greatland Gold Lodges New Exploration License Application

Updated: 22 Jul 2021

Greatland Gold (LON: GGP) said on Thursday that it has lodged an application for a new exploration licence in the Paterson region.

The Canning exploration licence application comprises 114 km and is located approximately 175 km southeast of the company's Havieron project in Western Australia.

The new licence application contains the bulk of a large magnetic “bullseye” anomaly similar to the magnetic “bullseye” located over the Havieron deposit. The company said no previous drill testing of this anomaly has been reported in historical records.

Greatland expects the licence to be granted and will compile and review historical exploration data, including regional aeromagnetic data and detailed gravity data and remodel the magnetic and gravity data.

“We are pleased to apply for the new Canning licence which will expand our footprint in the Paterson region and build on our exploration momentum in this region,” said Shaun Day, CEO of Greatland Gold.

“The licence application area contains the bulk of a large magnetic ‘bullseye' anomaly similar to the one located over the Havieron deposit. This fits in with our strategy of seeking to discover tier 1 gold-copper deposits,” added Day.

The company’s shares have fallen on Thursday, trading 6.8% lower at 21.25p.

Should you invest in Greatland Gold shares? Greatland Gold shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Greatland Gold the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .