REG - Great Western Mining - Exploration Results at M5 Prospect

Great Western MiningAnnouncement

18/02/2025 07:15

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RNS Number : 4085X  Great Western Mining Corp. plc  18 February 2025

GREAT WESTERN MINING CORPORATION PLC

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

 

EXPLORATION RESULTS AT M5 PROSPECT

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), is
pleased to announce the results of soil geochemistry and induced polarisation
(IP) surveys at its M5 prospect in Mineral County, Nevada.

 

HIGHLIGHTS

 

·    New soil samples have shown continuing anomalism for both gold and
copper in the northeast of the M5 prospect area.

·    An IP survey has identified a chargeability-resistivity pair aligned
with the M5 ridge where the strongest soil sampling results occur.

·    Both new datasets point to the system continuing under cover to the
northeast.

 

Great Western Chairman Brian Hall commented: "These surveys have identified
copper and gold anomalies aligned over a chargeability high, reinforcing the
potential for a significant mineralised system. The results will support drill
targeting prioritisation as the Company advances its exploration strategy in
the Walker Lane Belt."

 

M5 Prospect

The M5 prospect occurs at a prominent 850 m long northeast trending ridge,
located in the south of the Jack Springs claim group (Figure 1). The ridge is
composed of mafic intrusions in an altered volcanic package, standing proud of
surrounding tertiary lava cover (Figure 2). The ridge hosts a number of
mineralised outcrops, including a quartz vein with bonanza silver grades (5.14
g/t Au, 1,246 g/t Ag and 0.32% Cu, reported in late 2023) and sulphide
stringers featuring chalcopyrite. Soil sampling in 2023 identified a zone 1500
m long by 400 m wide containing several corridors of anomalous gold and
copper values which are open as they reach the edge of surrounding overlying
tertiary lavas to the northeast.

 

Geophysics

The objective of the IP survey at M5 was to investigate the ground beneath the
main ridge and any possible continuation of anomalies to the northeast under
volcanic cover. This was successful. Line 1 identified a chargeability anomaly
associated with the southwestern flank of the M5 ridge, adjacent to strong
resistivity high at the ridge crest (Figures 3 & 4). The same relationship
occurs on Line 2 where a similar pair of anomalies has been identified beneath
the tertiary cover sequence. The chargeability anomaly on Line 2 is stronger
than the corresponding anomaly on Line 1. The resistivity anomaly is also
identified on Line 3 indicating that the broad structural setting continues
1400 m northeast of the ridge.

 

Soil Samples

Additional samples to the northeast of the previously reported survey coverage
returned anomalous grades for gold. Of 118 new samples taken, 7 results were
between 10 and 15 ppb Au, within a group of 26 samples returning greater than
5 ppb Au (Figure 5). The newly sampled area also showed anomalous copper
results with six samples greater than 75 ppm Cu and outliers at 177 and 150
ppm (Figure 6).

 

Figure 1. Index map showing areal extent of M5 maps in this report, relative
to other key prospects and resources.

Figure 2. Geology map of M5, note extensive post-mineralisation volcanic
cover.

 

Figure 3. Chargeability sections from M5 with resistivity high superimposed.

Figure 4. Plan view of chargeability anomaly.

Figure 5. Map showing gold results from all soils at M5 to date.

Figure 6. Map showing copper results from all soils at M5 to date.

 

Figure 7. Summary map combining chargeability anomaly, gold anomalies in soils
and simplified boundary of cover sequences.

 

 

ADDITIONAL INFORMATION

 

All soil samples were submitted to Paragon Geochemical Laboratories, Reno,
Nevada. Samples were screened to -80 mesh and analysed by method FSAU-25, aqua
regia digest with ICP-MS finish for a 51-element suite. Quality control
samples were inserted by the company and results reviewed prior to release.

 

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 Corporation 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,                                                                                                              +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

 SP Angel Corporate Finance LLP (Joint Broker)

 Ewan Leggat/Adam Cowl                                                                                                    +44 203 470 0470

 Walbrook PR (PR advisers)

 Nick Rome/Joseph                                                                                                         +44 207 933 8783
 Walker

 

 

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 the
seventh and most recent acquisition, the Olympic Gold Project, is in the east
of the county, some 50 miles from the main group.  All the Company's claims
are 100% owned. Claims at the Eastside Mine Group have been contributed to a
pooling agreement with Bronco Creek Exploration, Inc. and in addition the
Company participates in the Huntoon Mine Area Cooperation Agreement with
landowner-neighbour Crowne Point Resources with whom it shares resources.
Great Western's small exploration team is supported by locally based
consultants and contractors.

 

The state of Nevada is 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.

 

GWM has also established an Inferred Resource Estimate of 31,000 tonnes
grading 1.6 g/t gold and 3.0 g/t silver in tailings associated with the OMCO
Mine at the Olympic Gold Project.  Additionally, exploration targets have
been independently reported as follows:

 

·    3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and 1.2 and
2.1 g/t Ag in the substrate beneath the tailings volume at the Olympic Mine.

·    9,000 - 12,000 tonnes grading between 0.9 and 2.4 g/t Au and 2.0 and
5.1 g/t Ag in a coarse stockpile at Olympic Mine.

·    4,200 - 7,700 tonnes grading between 40 and 140 g/t Ag and 0.3 and
0.3 g/t Au in spoil heaps at Mineral Jackpot.

 

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