REG - Great Western Mining - Drilling Update

Great Western MiningAnnouncement

08/06/2022 07:00

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RNS Number : 0712O  Great Western Mining Corp. plc  08 June 2022

 

GREAT WESTERN MINING CORPORATION PLC

 

Drilling Update

 

Great Western Mining Corporation PLC ("Great Western", AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and copper
targets in the Walker-Lane trend of Nevada, is pleased to report progress on
its current drilling campaign.

 

Summary

·    Three holes completed at Rock House ('RH') totalling 488 m with
positive indicators of alteration

·    Rig now at the Olympic Gold Project for drilling at Trafalgar Hill
and at the OMCO Mine site, to follow up on the positive 2021 drill campaign

·    First drilling at the Mineral Jackpot properties will follow, made
possible with a conventional RC rig by the recently completed 14 km road
construction and upgrade

 

Rock House

Following an encouraging maiden drill programme in 2021, three further holes
have now been drilled in the Southern Alteration Zone at RH with a combined
length of 488 m, using a reverse circulation ('RC') rig currently under
contract.  RHRC008, the first and longest hole, was drilled directly below
the section which identified the best intercepts in the 2021 programme, being
(1) 1.5 m at 8.02 g/t gold from 97.5 m in RHRC006 and (2) 1.5 m at 2.29 g/t
gold from 29.0 m in RHRC007.  Hole RHRC008 contains sections of pyrite
impregnation over tens of metres in both rhyolites and black carbonaceous
sediments, along with quartz and carbonate veins and veinlets. These features
are at positions that appear to correlate, via the prevailing geological
structure, to the high-grade intercepts of 2021. The presence of pyrite
impregnation and veining do not guarantee mineralisation but are very
encouraging.

 

Holes RHRC009 and RHRC010 were drilled on a new section to the west and
indicated zones of iron oxide and local trace pyrite disseminations.
Mineralisation at RH can be visually subtle and the possibility of
intersecting grade in these holes cannot be assessed until the cuttings have
been assayed in a laboratory.

 

Great Western Chairman Brian Hall commented:  "Our 2022 drilling campaign has
started well and is making excellent progress.  For assay results, we are in
the hands of overworked laboratories in Nevada and timing cannot be firmed up
at this stage.  RHRC008 appears to consolidate and build on our successful
drilling in this area last year.  We are very pleased to be in a position for
the first time to drill Mineral Jackpot, made up of five historic gold and
silver mines which have never before been explored using modern techniques.
We will keep shareholders updated."

 

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 Adviser & Joint Broker)

 Brian Garrahy                                                                                                            +353 1 679 6363

 Novum Securities (Joint Broker)

 Jon Belliss                                                                                                              +44 207 399 9400

 Walbrook PR (PR advisers)

 Nick Rome                                                                                                                +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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