REG - Great Western Mining - Drilling Programme 2022

Great Western MiningAnnouncement

08/02/2022 07:00

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RNS Number : 9335A  Great Western Mining Corp. plc  08 February 2022

GREAT WESTERN MINING CORPORATION PLC

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

 

 

Drilling Programme 2022

Great Western Mining Corporation PLC, which is exploring and developing gold,
silver and copper targets in Nevada, today updates shareholders on its 2022
approved drilling programme.  Four drill targets have been prioritised for
the first stage of the 2022 drill programme, with start-up in early spring as
soon as ground conditions permit.

 

Highlights

·    23 holes planned at Trafalgar Hill, OMCO and Rock House

·    Early spring start-up when ground conditions permit

·    Drill programme funded from existing cash reserves

 

The Olympic Gold Project ("Olympic")

 

The 825-acre Olympic group of claims is located on the northern flanks of the
Cedar Mountain range in central-east Mineral County, Nevada.  Olympic is a
low-sulphidation epithermal banded quartz gold vein deposit type.  At the
heart of the claim group is the OMCO Mine which produced 35,000 tons at 25 g/t
Au and 30 g/t Ag between 1918 and 1939 from 900 metres of underground
workings, before being abandoned in the 1940s.

 

Trafalgar Hill (Olympic)

 

In 2021, Great Western drilled six holes at Trafalgar Hill, totalling 4,435
feet (1,352 metres), to test both shallow and deep levels of the vein and
fault system. The drilling resulted in previously announced high-grade gold
intercepts (1.5m at 8.9 g/t Au and 1.5m at 1.04 g/t Au) in the shallower zone
to the south of the hill.  Trafalgar Hill comprises gold-bearing quartz veins
with a corresponding mineralised argillic alteration zone at surface, proximal
to a fault identified by ground magnetometry surveys carried out by the
Company.

 

The shallow zone mineralisation occurs in the contact zone at the base of a
mafic horizon, confirmed by visual inspection and chemostratigraphy.
Enrichment in gold and silver occurs at this contact in all six holes, but it
was in the southernmost fence, adjacent to sulphides and elevated manganese
concentrations, that the high grades were identified.  The mafic unit dips to
the east, and the mineralisation is interpreted to be following this dipping
contact.

 

In 2022, five holes totalling 3,310 feet (1,009 metres) will be drilled to
follow-up the encouraging 2021 results, with the aim of tracking the structure
to the south (along-strike) and east (down-dip) of the existing intercepts.
In the deeper zone an induced polarisation (IP) survey will most likely be
carried out for better target definition prior to further drilling.

 

OMCO Mine Extension (Olympic)

 

The principal productive vein at the old OMCO Mine is truncated by a
north-south trending fault.  In 2021 Great Western drilled four holes on the
east side of this fault, totalling 3,185 feet (971 metres), with the objective
of locating a possible continuation of the OMCO vein in this area.  Any such
extension, if located, could host high gold grades similar to those achieved
at the OMCO Mine in the past.  A breakthrough was achieved in 2021 when
assays of cuttings from the drill programme east of the fault established
mineralisation similar in style to the productive OMCO vein.  Further
drilling this year will attempt to zone in on the main target.

 

The 2022 programme will also test other potential vein mineralisation in the
vicinity of the OMCO Mine.

 

OMCO Mine South (Olympic)

 

After reviewing work carried out at the OMCO Mine site by previous claim
holders, Great Western believes that the wall rocks to the abandoned OMCO Mine
vein workings may host appreciable quantities of gold, not mined during
previous operations.  In 2022, this will be addressed by drilling through the
mined portions of the OMCO vein, which has never previously been attempted.

 

13 holes, expected to total 7,285 feet (2,220 metres), are planned in the OMCO
area.

 

 

The Rock House Group (RH)

 

The Rock House Group covers 6.2 km(2) and contains three distinct gold and
silver targets.  Great Western identified these targets through satellite
imagery, desktop research, rock chip sampling, soil sampling and trenching,
prior to first drilling in 2021.  Within these three targets, work last year
focused on the Southern Alteration Zone (SAZ), with six holes drilled
totalling 1,685 feet (515 metres).  Gold was encountered at shallow depths in
multiple holes with best intercepts of 8.02 g/t Au in one hole and 2.29 g/t Au
in another (as previously announced).

 

The stratigraphy and structural settings at RH are similar to those found in
the nearby Candelaria District, which produced 38.5mt at 61 g/t of silver from
an open-pit and heap-leaching operation from 1980 until recent times, as well
as high grade ore from narrow veins mined underground in the late 19(th) and
early 20(th) centuries.

 

Southern Alteration Zone (RH)

 

The objective of the 2022 programme will be to uncover further extensions to
the identified mineralisation along-strike to the west and deeper drilling
will aim to establish whether the zone contains significant dip extents. The
programme will test a potential increase in zone thickness and grade where
narrow structures coalesce, either along-strike or down-dip.  Five holes
totalling 2,380 feet (725 metres) are planned at RH.

 

Great Western Chairman Brian Hall commented:  "Following our successful 2021
drill results we have an excellent slate of targets and are looking forward to
starting field work in the spring.  During the winter GWM's team has been
working intensely on the selected prospects and a well-thought out programme
reflects the results of their efforts.

 

"Rock House had never been drilled prior to 2021 and follow-up drilling this
year will be exciting.  At Olympic, Great Western has a target range of
450,000-1,250,000 oz. gold from a combination of all the prospects and a
successful drill campaign at either the OMCO Mine Extension or Trafalgar Hill
could be transformational for the company.  In addition to the programme
announced today, we have a rich pipeline of further targets to address later
in the year.

 

We will keep shareholders advised on progress."

 

 

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.

 

MARs Statement:  This press release contains inside information as defined in
Article 7(1) of the Market Abuse Regulations.

 

For further information:

 

 Great Western Mining Corporation PLC
 Brian Hall,                                                                          +44 207 933 8780
 Chairman
 Max Williams, Finance Director                                                       +44 207 933 8780

 Davy (NOMAD, Euronext Growth Adviser & Joint Broker)

 John Frain                                                                           +353 1 679 6363

 Novum Securities (Joint Broker)

 Jon Belliss                                                                          +44 207 399 9400

 Walbrook PR (PR advisers)

 Nick Rome/Nicholas Johnson                                                           +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.

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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