REG - Great Western Mining - Drilling Completed at Mineral Jackpot

Great Western MiningAnnouncement

11/08/2022 07:00

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RNS Number : 6309V  Great Western Mining Corp. plc  11 August 2022

GREAT WESTERN MINING CORPORATION PLC

(AIM - GWMO, Euronext Growth - 8GW, "Great Western" or "the Company")

 

DRILLING COMPLETED AT MINERAL JACKPOT

 

Great Western announces the completion of its drilling programme at the
Mineral Jackpot group of claims in Mineral County, Nevada.

 

·    Four holes totalling 536 metres drilled in the Mineral Jackpot main
workings area

·    All four holes drilled towards known, previously worked
mineralisation.

·    All holes intercepted zones of target-type alteration.

·    Cuttings being sent to laboratory for assay

·    Summer 2022 drill programme complete and rig stood down

 

After short delays on account of severe storms in the area, Great Western has
now completed the first ever drill programme over the Mineral Jackpot claims,
made possible by the Company's upgrade of a 14 km mountain mule track to a
road earlier in the year.  Great Western was originally formed to exploit
this area of historic gold and silver mines, comprising the Silver Moon,
Silver Bell, Ming Toy, Bass and Mineral Jackpot mines, sometimes also
collectively known as 'Cabin Rock'.  Rock chip, soil and grab samples have
been assembled and analysed over the last three years and magnetometer surveys
conducted, together indicating potential for a doubling of the known
mineralisation over the claims, as previously reported.  Mineral Jackpot is
also host to numerous spoil heaps from historic mining operations, which the
Company is planning to load from site using the new road and then process for
secondary recovery of precious metals.

 

Great Western chairman Brian Hall commented: "This completes an exciting
summer drill programme over four of the Company's many prospect areas, the
Southern Alteration Zone (Rock House Group), Trafalgar Hill (Olympic Gold),
OMCO Mine area (Olympic Gold) and Mineral Jackpot (Black Mountain Group), with
24 holes drilled totalling 2,798 metres drilled depth.  We now await assay
results from busy independent laboratories, timing of which is outside our
control but which we will announce as soon as they become available."

 

GEOLOGICAL SUMMARY

 

Mineralisation at Mineral Jackpot consists of a series of quartz veins and
associated alteration zones, hosted in granite. These veins strike to the
northwest and dip at 40-50° to the southwest.  Although most of the details
of historic production have been lost, the gold and silver workings were
extensive and numerous mineralised waste piles from the workings are
distributed across the hillsides.  More recently, contemporary exploration
techniques have identified vein material from grab samples. These alteration
zones will now be modelled across the holes drilled by Great Western, using
the known structural orientation of the mineralisation.

 

DRILLING SUMMARY

 

Each of the four holes drilled intersected at least three zones containing
alteration of target type, some of which also exhibited significant amounts of
chips interpreted to be derived from quartz veins. Other weaker alteration
zones occurred within the holes between the noted zones but are not detailed
here.

 

 

 

·    MJRC001

The first hole from the lowermost pad at the main workings was designed to
test the ground directly beneath the portal developed in 'Vein 01', the most
historically worked of the veins. Vein 01 is also the most north-easterly,
being the lowest in the array, and its footwall is largely unexplored.  A
secondary objective of all the four initial holes was to test the granite
beneath this structure.  The hole intersected alteration of target type
directly below the workings at 6 - 10 m. This is thought to be the down-dip
extension of Vein 01. Additional zones of interest with up to 50% altered
granite and milky quartz chips were identified at 59 - 64 m and 94 - 98 m.
Strong haematite alteration occurred within the latter zone from 96 - 98 m.
The hole finished at 152 m.

 

·    MJRC002

The second hole was drilled from the same pad as MJRC001, being a steeper hole
to test the down-dip continuity of zones identified in the first hole. This
hole also intersected alteration of target type near the start of the hole at
15 - 18 m, possibly the continuation of Vein 01. Another zone of strong
alteration was intersected at 67 - 70 m, and a third at 105 -114 m. The hole
finished at 128 m.

 

·    MJRC003

The third hole was drilled from 50 m northwest at the Main Workings to test
the along-strike continuity of zones identified in the first two holes. A
strong alteration zone with quartz vein chips was identified from 10 - 15 m.
Moderate to strong alteration occurs at 45 - 53 m around a mafic dyke, and
moderate alteration zones were also seen at 70 - 82 m and 105 - 113 m. The
hole finished at 122 m.

 

·    MJRC004

The fourth hole was drilled from the upper parts of the main workings, a
further 60 m to the northwest of MJRC003, again designed to test the strike
continuity of intersected zones. A strong alteration zone with quartz vein
chips was identified from 4.5 - 11 m. Weak to moderate alteration occurs from
41 - 52 m. Moderate alteration with haematite was identified from 59 - 67 m.
The hole finished at 133 m.

 

The rig has now been released.

 

Competent Person Statement: The information in this announcement that relates
to exploration results is based on information reviewed by Dr James Blight
MGeol PhD MAusIMM (CP) who is Exploration Manager of Great Western Mining
PLC.  Dr Blight has requisite experience relevant to the style of
mineralisation and type of deposit under consideration, and to the activity
which he is undertaking, to qualify as a "Competent Person" as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves'.  Dr Blight is also 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,                                                                                                              +44 207 933 8780
 Chairman
 Max Williams, Finance                                                                                                    +44 207 933 8780
 Director

 Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker

 Brian Garrahy                                                                                                            +353 1 679 6363

 Novum Securities (Joint Broker)

 Jon Belliss                                                                                                              +44 207 399 9400

 Walbrook PR (PR advisers)

 Nick Rome/Joe                                                                                                            +44 207 933 8783
 Walker

 

 

Notes to Editors

The Company has a large acreage position 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.

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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