GGPChat

Firetower another of Greatland’s old licences.
Most of the exploration has concentrated around the Firetower target. In that section you can see that bulging out of the ground and Callum reckons you can actually see that.
This area is the likelihood of a 1m oz zone, with some stunning grades here.
Some drilling has happened at Firetower East and alteration has been found mainly zinc and silver.
Firetower west has had a little exploration and copper has been found here.

The 2 in the north are very old mine workings.
There is a group in Tasmania who go around taking photos of old mine workings and described Star of the West as being in a thick wooded area and very difficult to find with a dangerous opening, not found much of the other one Gregories Road

Firetower was subject to a jv some years ago and I believe the other firm couldn’t keep up with their commitments

Tenement map

For those that use Google Earth here is a Firetower Tenement Outline El26 2004.kml file as accurate as I can get it:

https://e1.pcloud.link/publink/show?cod ... uEE4JwNjEV

From the annual report
“Firetower project, Tasmania

The Firetower project is located in central north Tasmania, Australia and covers an area of 62 square kilometres.

During the year the Group obtained a two-year extension to the term of this licence and proposed ground geophysics, and diamond and RC drilling. The Firetower project has strong base metals mineralisation and porphyry copper potential over a 5 kilometres long structure.”

Somebody been busy
Looks like Firetower west not sure

Cubic, apparently.

RNS 30/11/22
Greatland enters an option agreement to sell its Tasmanian exploration licences while retaining a future economic interest in the projects.

Details here
https://polaris.brighterir.com/public/g ... ry/x5gjvpw

Shaun is getting on with reshaping GGP.

Can anyone say if this is a good deal financially?
How much has GGP spent on the Projects?

Not that these matter as they did take money to maintain on the books, and like I footballer where the contract runs out, so return is better than none.

Hi Rotherby - the long term plan in place by Shaun has been to focus on larger scale opportunities in the portfolio in Oz (Paterson Region, Ernest Giles, Bromus, Panorama etc.) and Jv/Divest the Taz assets to partners who will focus on exploring and developing them and have more of a local presence.

We've seen him communicate this numerous times in interviews so been long expected. Especially since the Pacific Trends agreement where many wondered if the Taz assets was a sweetener to broker the deal as there was nothing in it for PCT to agree to the terms so a few predicted they'd end up taking the Taz assets off us.

I'm sure given we will retain a commercial interest and incentives on the projects progressing that Shaun will lend GGP's expertise to their efforts and they seem very capable too of course given their team - a good deal all around IMO - we'll see assets we consider as less of a fit for GGP actually be progressed and provide us with capital to fund our own activities

Latest update from Flynn Gold on Warrentinna & Firetower, published today:

https://wcsecure.weblink.com.au/pdf/FG1/02658630.pdf