Greatland Gold kicks off gold hunt in Tasmania’s North-East

A global mining company has started drilling in the state’s North East with hopes of finding rich gold deposits.

A global mining company is hoping to find significant gold reserves in North-East Tasmania.

DIAMOND drilling has begun in Tasmania’s North-East with the hope of finding gold deposits like those found in the goldfields of central Victoria.

UK-based global mining company Greatland Gold today announced its “targeted, low-cost diamond drilling program” at Warrentinna, just north of Derby.

Derby North is one of two Greatland Gold projects in Tasmania, having reportedly found “broad widths” of the precious metal at a site south of Devonport in September.

The company’s CEO Gervaise Heddle said the drilling at its Derby North site at Warrentinna was aimed at collecting information about the style of mineralisation in the area and would assist in evaluating the potential of the project.

“The drill core and associated data will be assessed to determine whether the style of mineralisation at Warrentinna is similar to that seen in the central Victorian goldfields, a world-class gold province,” he said.

Reverse circulation drilling at the Derby North site to date has outlined a “gold mineralised system” approximately 150 metres long and 100 metres wide.

The new drilling program announced today is the company’s first diamond drilling program at Derby North.

It will see two holes drilled reaching depths of 125m each.

The company will use drill core, ultra-high resolution photography and X-ray fluorescence data to help determine whether the project can “deliver significant shareholder value” or whether it should divest from the project.