Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Greatland Gold (AIM:GGP) reported locating numerous gold nuggets, confirming the presence of mineralisation over several kilometres of strike at its 100%-owned Panorama project, located in Australia’s Pilbara region.
In a press release, Greatland said that the nuggets were found in more than 10 locations, which allowed its geologists to extend the zone of gold mineralisation from 3.2 kilometres of strike to 4.3 kilometres.
Greatland reports that the mineralised zone, hosted in Archean basement, currently remains open to the southwest
The London-based miner said that these findings follow field reconnaissance activities, which will continue through July.
“The dual geochemical and geophysical campaign that we are conducting at Panorama represents a step up in the scale of exploration previously conducted at this project and clearly these early results support our decision to accelerate the pace of exploration activity at this exciting gold target in the Pilbara,” Gervaise Heddle, Greatland Gold CEO, said in the media statement.
The Panorama project consists of three adjoining granted exploration licences located in the Pilbara region of Western Australia. The three licences cover a total area of approximately 155 square kilometres and are prospective for gold and base metal mineralisation.
According to Heddle, the geology of the area is predominantly greenstone and granite of the Archean Pilbara Craton in northern Western Australia, and younger overlying sedimentary and volcanic sequences. In the executive’s view, this makes the project prospective for Archean lode style gold mineralisation and also ‘conglomerate’ style gold mineralisation.
