Primorus Investments PLC Further Investment in Greatland Gold PLC (6733R)
04 Marzo 2019 - 1:00AM
UK Regulatory
TIDMPRIM
RNS Number : 6733R
Primorus Investments PLC
04 March 2019
Primorus Investments PLC
("Primorus" or the "Company")
Further Investment in Greatland Gold PLC
Primorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to
advise shareholders that, as per its investment mandate, it has
acquired a further 2m shares in AIM-listed metals exploration
company Greatland Gold PLC ("Greatland"; (GGP.L). The Company now
holds 37m shares in Greatland, representing approximately 1.15% of
its issued share capital in Greatland, purchased at weighted
average price of 1.71p per share, which remains unchanged from the
previous investment as announced on 10 January 2019.
The most recently announced drilling by Greatland at Haiveron (5
February 2019) yielded excellent results, including 367.1m at
1.15g/t gold, 0.44% copper and 176ppm cobalt from 471m, including:
150.5m at 2.25g/t gold, 0.67% copper and 224ppm cobalt from 471.5m
in HAD006. HAD008 yielded 89m at 1.97g/t gold, 0.8% copper and
362ppm cobalt from 426m.
Previously announced drilling by Greatland at Havieron (19
November 2018) reported several excellent Gold/Copper intercepts
including the outstanding combined drilling intercept of 275m at
4.77g/t gold and 0.61% copper, including an upper zone of 118m at
3.08g/t gold and 0.84% copper from 459m and a lower zone of 157m at
6.04g/t gold and 0.44% copper from 660m (HAD005) at its 100%-owned
Havieron Gold/Copper project in the Paterson Province region of
Western Australia.
Alastair Clayton, Executive Director commented "Recently Rio
Tinto unveiled the high-anticipated results from its recently
discovered Winu Project, also located in the Paterson Province.
These were impressive and indicated broad widths of sustained
gold/copper mineralisation that occurs closer to the surface than
at Haiveron. Pleasingly, and despite being deeper than at Winu,
several drill holes at Haiveron contain large widths of very
high-tenor gold and copper mineralisation. We believe the discovery
of such high-tenor mineralisation is thus far unique to Haiveron in
terms of Paterson Province gold and copper discoveries."
Greatland has indicated its next drilling campaign is due to
commence at Haiveron this month and it appears a number of other
explorers are also planning drill campaigns adjacent to Haiveron
and elsewhere in the Paterson Province so we expect the next few
months to be the beginning of a modern-day exploration rush in this
largely underexplored part of Western Australia."
"Given the above and taking advantage of recent unexpected
weakness in the GGP share price we have added to our position
without moving our weighted average investment price and we look
forward to a prolonged period of exploration news and results now
that the short summer rainy season has passed."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Primorus Investments plc: +44 (0) 20 7440 0640
Alastair Clayton
Nominated Adviser: +44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Sandy Jamieson
Broker: +44 (0) 20 3621 4120
Turner & Pope Investments
Andy Thacker
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END
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