REG - Great Western Mining - Copper Potential Materially Upgraded

Great Western MiningAnnouncement

16/11/2023 07:00

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RNS Number : 6198T  Great Western Mining Corp. plc  16 November 2023

GREAT WESTERN MINING CORPORATION PLC

("Great Western", "GWM" or the "Company")

 

COPPER POTENTIAL MATERIALLY UPGRADED

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW),
which is exploring and developing gold, silver and copper targets in the
Walker Lane trend of Nevada, provides details of a material upgrade in the
copper potential of the Huntoon Valley area.

 

A recently completed geological field work programme on the Company's copper
claims has achieved significant results, underlining an opportunity which may
become increasingly attractive for a larger joint venture partner.

HLIGHTS

 

·    Clear evidence of a previously unidentified copper porphyry system in
the Huntoon Valley.

·    A significant area of granite outcrop has been newly mapped near the
centre of a copper anomaly identified during previous soil sampling.

·    Over 100 localities with visible surface copper oxide mineralisation
have been mapped.

·    135 new soil samples have been collected.

·    Porphyry expert Dr. Lawrence Carter engaged to review copper potential

·    19 new claims staked at West Huntoon in the last two weeks to
strengthen the Company's acreage position.

 

In the Huntoon Valley area, Great Western's successful copper exploration
includes:

 

1.    A resource of copper (M2) established on the Black Mountain claims
with further potential open in several directions.

2.    The M4 prospect in the Jack Springs Claims, with a copper intercept in
one drillhole and surface copper oxide showings, to the south of M2.

3.    The West Huntoon prospect, situated across the Huntoon Valley to the
southwest of M2, at which a single hole has been drilled containing both
copper and gold intercepts.

 

Multiple indications of a potentially major copper play led the Company to
seek third-party advice to assess its positive findings. In early October Dr.
Lawrence Carter, a specialist in copper porphyries and an expert on the nearby
archetypal Yerington porphyry copper district, visited the site and spent a
week with the Great Western team in the field.  Dr. Carter's role was to
visit the site, review, assess and opine on the work done over the summer,
making recommendations for going forward.  He was not charged with providing
any kind of valuation or quantification of a potential resource and his report
does not include any measurable data in that respect.

 

During Dr. Carter's visit, which was focused on West Huntoon, but also took in
the other projects around the Huntoon Valley, abundant evidence for
porphyry-style mineralisation was identified, particularly at the newly
identified granite area at West Huntoon, never previously mapped. The
juxtaposition of other prospects in the area (M2, M4) and their possible
relations to intrusions suggest a large magmatic-hydrothermal system at work.
 Dr. Carter's full report has been uploaded to the Company's website and can
be accessed through the following link
https://www.greatwesternmining.com/carter/
(https://www.greatwesternmining.com/carter/)

 

KEY FINDINGS IN DR. LAWRENCE CARTER'S REPORT

 

·    First-order field evidence for a magmatic-hydrothermal system with
strong indications of associated porphyry-style mineralisation exists on GWM's
properties and surrounding land (now under newly staked claims, see below).

·    Key magmatic-hydrothermal textures including pegmatitic pods, quartz
eyes, miarolitic cavities, aplitic porphyry dykes, unidirectional
solidification textures (USTs) and locally intense stockworks of A, AB and
B-type quartz veins all within the newly mapped West Huntoon granite at the
heart of the copper anomaly.

·    Various other observations of intrusive relations, alteration and
mineralisation suggestive of a previously un-realised large scale porphyry
system, covered in several places by tertiary volcanic horizons -
significantly, highlighting potential for sub-cropping porphyry-style
mineralisation on and surrounding GWM's current Huntoon property.

·    Skarn-style mineralisation at GWM's M2 resource and M4 prospect on the
eastern side of

·    the Huntoon Valley may all be associated with a much larger
mineralising magmatic-hydrothermal system.

·    Field evidence from across the Huntoon Valley, as summarised above, is
suggestive of a large sub-cropping porphyry-style magmatic-hydrothermal
system. Current projects elsewhere in the county are continuously providing
evidence for other such systems in the region.

 

A study of the trace element geochemical signatures of the granites
encountered during the field visit is in progress. Initial results indicate
fertile geochemical signatures in some of the granites sampled.

 

NEW CLAIMS

 

Following the results of the 2023 field programme, 19 new claim blocks in two
separate groups have been staked in the West Huntoon area adjacent to the
Company's existing claims and covering areas which are thought to be underlain
by shallow prospective granite.

 

HUNTOON COPPER PROJECT

 

The three main prospects around the Huntoon Valley, M2, M4 and West Huntoon,
have been collectively designated the Huntoon Copper Project, emphasising the
likely genetic connections between each and the potential for additional
discoveries over Great Western's considerable claim acreage around the Huntoon
Valley (Figure 1).

 

 

 

Figure 1. Map to show the Huntoon Copper Project which comprises the M2
Resource, and the M4 and West Huntoon prospects. Note, new claims at West
Huntoon not shown.

 

CONCLUSION

 

Until this year, the focus of Great Western's copper potential had been on the
resource already established through extensive drilling at the M2 prospect.
 Although drilling and a great deal of work is required to prove up a
resource at West Huntoon, the geological work carried out during the summer
this year has opened up the strong possibility of a major new copper porphyry
in the Huntoon Valley, of which the existing M2 resource would only be a
peripheral component.

 

Great Western Chairman Brian Hall commented:  "Great Western has been working
hard in this area for several years now but the work carried out in 2023 has
the potential to transform the Company, should a major porphyry be
established, in a world transitioning from hydrocarbons where copper will
become increasingly important. This is an exciting development for Great
Western."

 

Qualified Person Statement: The information in this announcement that relates
to exploration results is based on information reviewed by Dr James Blight
MGeol PhD MAusIMM who is Exploration Manager of Great Western Mining PLC. Dr
Blight is a "Qualified Person" as defined in the "Note for Mining and Oil
& Gas Companies" which form part of the AIM Rules for Companies. Dr Blight
has reviewed and consented to the inclusion in the announcement of the
information in the form and context in which it appears.

 

 

 

For further information:

 

 Great Western Mining Corporation PLC
 Brian Hall, Chairman                                                           +44 207 933 8780

 Max Williams, Finance Director                                                 +44 207 933 8780

 Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker)

 Brian Garrahy                                                                  +353 1 679 6363

 SP Angel (Joint Broker)

 Ewan Leggat/Harry Davies-Ball                                                  +44 203 470 0470

 Walbrook PR (PR advisers)

 Nick Rome                                                                      +44 207 933 8783

 

Notes to Editors

The Company has a large tract of acreage in Mineral County, Nevada. The area
consists of rugged, mountainous terrain, which means that large parts of it
remain under-explored. Mineral potential is hosted by the regional Walker Lane
Structural Belt, the largest structural and metallogenic belt in Nevada, yet
one of the least explored in recent times, with gold, silver and copper
currently produced in Mineral County.  Great Western has seven distinct
concession areas which offer the potential for exploiting (1) short term gold
and silver deposits and (2) long-term, world-class copper deposits.

 

Six of the Company's properties are in the west of Mineral County and are 100%
owned and operated.  The Company has an option to acquire a seventh property,
the Olympic Gold Project, in the east of the county.  Great Western's small
exploration team is supported by locally based consultants and contractors.

 

 

The state of Nevada is generally considered to be one of the world's most
mining friendly jurisdictions.  While tightly regulated and environmentally
conscious, Nevada welcomes the mining industry.  Great Western takes care to
ensure that its claims are maintained in good standing and all regulations
observed.

 

There are numerous gold and silver prospects on the Company's acreage,
including extensive historic mine workings which offer the opportunity for
secondary recovery. The Company is party to a 50-50 joint venture known as
Western Milling LLC which is constructing a mill to process pre-mined material
for secondary recovery of gold and silver.

 

Furthermore, through extensive drilling over a five-year period, GWM has
established a Mineral Resource on its first target area known as M2, of 4.3
million tonnes at 0.45% copper, for 19,000 tonnes of contained copper metal.
This resource has been independently reported in accordance with JORC
guidelines.

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