Shares in metal exploration company Greatland Gold (LON:GGP) jumped over 8 percent on Tuesday, after a company drilling nearby reported positive high-grade gold results from its latest drilling campaign.
Antipa Minerals reported the results from its Minyari Dome Project, approximately 35 kilometres along strike from Greatland Gold’s Havieron project, including 42.0m at 7.8g/t gold from 262m downhole and 28.0m at 3.6 g/t gold from 13m downhole.
In a statement, Greatland Gold said that “Antipa’s drill results represent some of the most outstanding gold drill intersections reported in the Paterson region in recent times and, we believe, highlight the vast exploration potential of the Paterson region.”
Greatland recently more than doubled its potential landholding in the Paterson region and now holds a potentially significant strategic position of over 360 square kilometres in a region that is seeing increasing interest from major mining companies.
Greatland’s Havieron project is located approximately 40 kilometres east of Newcrest’s Telfer gold mine, which has produced over 27 million ounces of gold to date.
Gervaise Heddle, Chief Executive Officer, commented: “The outstanding results reported today by Anitpa Minerals highlight the potential of this exciting gold/copper district. We believe that this announcement may significantly accelerate regional exploration efforts by the mining companies in the region, including Newcrest, Rio Tinto and Antipa.”
Shares in Greatland Gold are currently trading up 7.48 percent at 0.661 (0934GMT).