REG - Great Western Mining - Drilling Results

Great Western MiningAnnouncement

09/09/2022 07:00

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RNS Number : 8475Y  Great Western Mining Corp. plc  09 September 2022

 

GREAT WESTERN MINING CORPORATION PLC

("Great Western" or the "Company")

 

MINERAL JACKPOT AND ROCK HOUSE DRILLING RESULTS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW),
which is exploring and developing gold, silver and copper targets in Nevada,is
pleased to announce the assay results from its summer 2022 drill campaign at
the Mineral Jackpot and Rock House prospects in the Walker-Lane trend.

 

HIGHLIGHTS

 

Mineral Jackpot:

•     Four holes were the first ever drilled in this historic group of
mines

•     Hole 4 encountered a significant silver intercept with associated
gold at very shallow depth

•     Hole 1 encountered reportable grades of gold at depth

•     Holes 2 and 3 encountered anomalous gold intercepts below the
reporting threshold

 

Rock House Group:

•     Three holes drilled to follow up successful 2021 programme

•     Continuation of mineralised system established along-strike to
west of 2021

•     Reportable gold intercepts near to surface

•     New copper zone identified

 

Note 1 - g/t = grams per metric tonne, equivalent to parts per million

Note 2 - All intervals are quoted as downhole length - true widths are not
known at this time

 

 

MINERAL JACKPOT

 

Final assay results from drilling at the Mineral Jackpot group of prospects
have now been received.

The five, high-altitude, historic mines which make up the Mineral Jackpot
group had not previously been drilled and Great Western is pleased to announce
the results from an initial four-hole programme over these extensive
prospects, made possible by the Company's construction of a 14 km access road
earlier this year.

Initial drilling was concentrated on the 'Main Workings', one of several
previously worked areas over the larger site.  A summary of the results is
set out below and the results of laboratory analysis are set out in Table 1:

·    Hole 4 intercepted a 7.62 metre zone from 4.57 metres in the hole
grading at 180.94 g/t silver and 0.315 g/t gold, contained within which is a
high-grade silver zone hosted in quartz vein of 3.04 m at 418.00 g/t silver
and 0.554 g/t gold, starting at 6.10 meters drilled depth.

·    Hole 1 contained reportable intercepts of gold in parts of the hole
logged as 'Mineral Jackpot style' alteration at drilled depths of 3.05 m and
35.05 m (see Table 1).

·    All four holes also exhibited multiple single-digit metre intercepts
with anomalous gold and silver grades, below the minimum threshold used here,
around sections logged as altered.

The quartz veins at Mineral Jackpot are thought to pinch and swell along
relatively continuous planar zones, the best grades being associated with
thicker quartz. All alteration logged and assay results reported will guide 3D
modelling of prospective zones for future drill targeting of these thicker
quartz vein portions.

The intercept in Hole 4 provides a near-surface, high-grade target for further
exploration and potential low-cost development due to its shallow position.
The other Mineral Jackpot prospects contain multiple strong, unexplored drill
targets, including not only historic workings but also geochemical anomalies
parallel to the strike of the veins not associated with previous mining
activities.

 

Table 1: Mineral Jackpot gold Intercepts greater than 0.10 g/t, or silver
intercepts greater than 100 g/t.

 Hole ID  Collar Easting  Collar Northing  Collar Elevation  Azimuth  Dip    Hole                    From (metres)  To         Interval (metres)  Gold        Silver

          (NAD83)         (NAD83)          (metres)                          length (metres)                        (metres)                      (Au; g/t)   (Ag; g/t)

 MJRC001  374,573         4,229,257        2111              030      -55    152.4                   3.05           4.57       1.52               0.112       1.1
                                           35.05                      36.58                    1.52                 0.325                         BDL*

 MJRC002  374,571         4,229,258        2111              043      -75    128.02                  No significant intercepts
 MJRC003  374,538         4,229,286        2118              045      -60    121.92                  No significant intercepts
 MJRC004  374,541         4,229,328        2132              045      -80    133.20                  4.57           12.19      7.62               0.315       180.94
          including                        6.10                       9.14                     3.04                 0.554                         418.00

*BDL = Below detection limit

ROCK HOUSE

 SOUTHERN ALTERATION ZONE

Final assay results from drilling at the Southern Alteration Zone (SAZ)
prospect have now been received (see Table 2).

The SAZ is one of three        prospects at Rock House identified by
Great Western through analysis of satellite imagery, none of which had
previously been explored until first drilling by the Company in 2021.  Three
follow-up holes have been drilled in summer 2022.

High-grade intercepts comparable with those from 2021 (1.52 m at 8.020 g/t
gold from 97.54 m in Hole 6, and 1.52 m at 2.289 g/t Au from 28.96 m in Hole
7) were not identified in this year's drilling, but reportable, anomalous gold
values were encountered in Hole 9 (Table 2) which was drilled 100 m to the
west of the Hole 7 fence, around the contact between the volcanic-sedimentary
package and an iron and manganese-rich gossan (a rust-coloured cap of iron and
manganese oxide minerals which can be an indicator of underlying
mineralisation) which crops out at surface.  There is clear evidence of a
continuing gold mineralising system close to the gossan contact.

Hole 10 was drilled under the surface gossan, identifying a zone of low-grade
copper enrichment (41.15 m at 0.13 % Cu, including 3.04 metres at 0.23% Cu and
6.10 metres at 0.24% Cu) associated with iron and manganese bearing horizons
 (Table 3).  This zone is open at depth and along strike, being the first
hole that has intersected the material which crops out as gossan, and is a
completely new development at Rock House which will be evaluated and followed
up.

 

Table 2: SAZ gold intercepts greater than 0.10 g/t

 Hole ID  Collar Easting  Collar Northing  Collar Elevation (metres)  Azimuth  Dip   Hole length  From (metres)  To (metres)  Interval (metres)  Gold

          (NAD83)         (NAD83)                                                    (metres)                                                    (Au; g/t)
 RHRC008  378,940         4,222,023        1674                       180      -65   259.08       No significant gold intercepts
 RHRC009  378,855         4,221,974        1659                       180      -60   124.97       22.86          24.38        1.52               0.106
          89.92                            94.49                               4.57               0.188
 RHRC010  378,849         4,221,918        1682                       120      -60   103.63       No significant gold intercepts

 

Table 3: SAZ copper intercepts greater than 0.1%

 Hole ID  Collar Easting (NAD83)  Collar Northing  Collar Elevation  Azimuth  Dip    Hole length        From (metres)  To (metres)  Interval (metres)  Copper

                                  (NAD83)          (metres)                          (metres)                                                          (Cu; %)
 RHRC008  378,940                 4,222,023        1674              180      -65    259.08             No significant copper intercepts
 RHRC009  378,855                 4,221,974        1659              180      -60    124.97             No significant copper intercepts

 RHRC010  378,849                 4,221,918        1682              120      -60    103.63             15.24          41.15        25.91              0.13
          including                                28.96                      32.00               3.04                 0.23
          and                                      35.05                      41.15               6.10                 0.24
                                                   88.39                      89.91               1.53                 0.18

 

Great Western Chairman Brian Hall commented:   "Mineral Jackpot and Rock
House are two of the four target areas we have drilled this year and we are
now waiting on results from Trafalgar Hill and the OMCO Mine area, both at the
Olympic Gold Project, which we expect in the near future.

 

"Mineral Jackpot is a highly prospective area which has been virtually
impossible to drill until now and we have been particularly encouraged by Hole
4 which has yielded high grades of silver at a manageable depth and which
could quite easily be exploited, once proved up by further straightforward
shallow drilling with a basic rig.  Ore could be processed through the
milling joint venture which we are currently working on to produce precious
metals from mining waste and would be a logical development opportunity for
the future.

 

"Rock House represents original exploration work by the Great Western team,
with only one of three prospects so far drilled, the Southern Alteration Zone,
and great potential which requires further work based on what we are learning
from this year's drilling.  Indications of copper at Rock House are an
exciting new development which we will follow up through field work and
sampling over the next few months.

 

"We will announce the OMCO and Trafalgar Hill results as soon as they are
available."

 

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, 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

 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 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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