Greatland's losses widen as exploration accelerates

Greatland Gold has reported an operating loss for the six months to 31 December 2016 of £608,421, compared to a loss of £227,690 for the same period last year.

During the six months, the Company accelerated exploration across all of its projects with positive results.

A wide-spaced drilling campaign at Ernest Giles undertaken in late 2016 identified two large zones of gold mineralisation, including a Western zone up to six kilometres in length.

At the Bromus project, downhole electromagnetic surveys successfully identified four high priority targets for massive sulphide mineralisation.

In addition to the exploration results, the Company also entered into an agreement to acquire 100% of the Havieron gold project.

The Havieron gold project covers 135 square kilometres and is located approximately 40 kilometres east of Newcrest's Telfer gold mine. Limited historical exporation by Newcrest demonstrated high grade gold and copper mineralisation with peak values of 15 g/t Au and 2.5% Cu.

At 1:39pm: (LON:GGP) Greatland Gold PLC share price was +0.02p at 0.29p