REG - Great Western Mining - Exploration Results

Great Western MiningAnnouncement

14/02/2025 07:15

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RNS Number : 0620X  Great Western Mining Corp. plc  14 February 2025

GREAT WESTERN MINING CORPORATION PLC

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

 

EXPLORATION RESULTS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW),
which is exploring and developing gold, silver and copper targets in the
Walker Lane belt of Nevada, USA, is pleased to announce further results from
its 2024 geological field work with positive developments at several
prospects.

 

HIGHLIGHTS

 

·    M2 Resource:  Analysed soil samples reveal a surface anomaly
continuing 500 m to northeast of the Company's existing inferred copper
resource. One grab sample from this area recorded 1,470 g/t Ag, a new peak for
M2.

·    West Huntoon Porphyry Prospect:  Further infill soil sampling has
better defined strong copper and gold targets at the heart of the anomaly,
following the recently reported expansion of the area of interest from 2 km²
to approximately 3 km².

·    West Huntoon Gold Prospect:  A new grab sample confirms elevated
gold values (2.01 g/t Au) 65 m along strike from high-grade samples reported
in late 2024 (16.17 g/t Au, 207 g/t Ag)

·    Smith Mine: reconnaissance soil samples have confirmed an area in the
south of the grid as anomalous for copper, with peak value of 341 ppm Cu, and
an isolated sample returning a gold value of 29 ppb Au.

·    Tun Group Prospect:  Soil and grab samples show anomalies
surrounding old mine workings and along two parallel trends running up to 1 km
to the west. A new grab sample from a quartz vein approximately 900 m from the
old workings returned 1.17 g/t Au.

 

 

Great Western Chairman Brian Hall commented:  "During the 2024 field season,
our exploration team worked continuously on enhancing our knowledge of our
large area of claims in the Nevada Walker Lane belt, through a combination of
geophysical surveys, grab sampling, soil sampling and field mapping.  We
reported lab results several times during 2024, and this release covers lab
results recently received and not previously reported. Some 2024 results
remain pending and will be announced when available.   The precise locations
of the samples taken are set out in map form at the end of this release.

 

"The high rate of success achieved through this field work clearly underlines
the prospectivity of our extensive claims, both for copper and precious
metals.  In 2025 we will also begin work on the tungsten prospects identified
at the former Defender and Pine Crow mines where we have recently staked new
claims to protect our interests."

 

M2 Resource

New soil samples taken northeast of M2 indicate the continuity of the M2 trend
in this direction (Figure 2). 124 samples were collected in a 50 x 50 m grid,
of which 27 were anomalous (>75 ppm Cu) for copper (peak 969 ppm Cu,
median 117 ppm Cu). Notably, one portion of the anomaly is above a granite
body - the Fletcher's Camp Granite. Surface showings of copper have been found
relating to late-stage intrusions above the granite contact. Grabs from this
area have returned positive grades for copper one returning a grade of 1,470
g/t Ag. This is the highest silver value recorded at M2. Further work will be
undertaken for a better understanding of the silver enrichment in this area.

West Huntoon Porphyry Prospect

A further 56 infill soil samples have been taken at West Huntoon, 33 of which
are anomalous for copper (peak 625 ppm Cu, median 220 ppm Cu; Figure 3a).
These samples have better defined the main daylighting portion of the copper
anomaly in the core zone at the prospect. Crucially, this is an area where
Great Western has open drill permission under an ongoing agreement with a
private landowner.

 

While recent focus has been on the copper prospectivity at West Huntoon, these
results again highlight the widespread gold prospectivity. Of the 56 new
samples, 23 have gold grades >5 ppb, with median value of 10 ppb, and
outliers at 231 and 100 ppb Au. Reviewing a wider group of 333 samples taken
to date over the core areas of West Huntoon (including both new and previously
released samples, with those collected cover sequences excluded), 271 are
>= 5 ppb Au, 26 are >=50 ppb Au and 13 are >= 100 ppb Au with
outliers at 1,940 and 320 ppb Au.

 

In 2024 GWM announced a high-grade vein grab of 16.17 g/t Au, 207 g/t Ag and
2.37% Cu. A follow-up sample has since been taken 65 m to the southeast on
another outcrop of the same structure which returned 2.04 g/t Au and 0.1% Cu,
indicating that this mineralised vein may have lateral continuity (Figure 3b).
Further detailed mapping of the area in search for more outcrops of this
structure is planned.

 

Smith Mine

Reconnaissance soil samples taken at the Smith Mine claims covered 3 km(2)
(Figure 4), being the Company's first systematic sampling undertaken at this
prospect.  Eleven lines were sampled with line spacing of 250 m and sample
spacing of 100 m.  84 samples taken show mild copper anomalism (>50 ppm
Cu) proximal to the Smith Mine workings and several samples in the south of
the grid returned anomalous copper grades, including a maximum outlier of 341
ppm Cu. These samples were taken proximal to surface showings and, along with
new and previously reported grabs, help define a 400 m trend of copper
anomalism. Separately, one sample high on the flank of the hills to the
southwest returned a markedly anomalous 29 ppb Au. Closer-spaced follow-up
samples will be collected in both of these areas.

 

A float sample of quartz vein containing pyrite, taken at the Neo workings
returned 6.51 g/t Au and 41.9 g/t Ag. It is likely that this vein was the
focus of the mine's original workings, as similar material is present in
outcrop in the walls of short open adits. The vein is narrow (<20 cm) at
outcrop, but with further work may become a drill target.

 

Tun Group Prospect

Reconnaissance soils were conducted at the Tun claims and show copper and gold
anomalism, mainly in the area near surface workings around the range-front
boundary with the Huntoon Valley (Figure 5). Mild gold anomalism continues in
two corridors to the west and follow-up infill sampling is planned in these
areas. In one of the zones, situated 900 m to the west of the Tun workings, a
grab sample from an outcropping quartz vein returned 1.17 g/t Au, indicating
potential for continuity of the epithermal style veins in this area.

 

 

Figure 1. Summary map showing location of Great Western claim groups around
the Huntoon Valley, and areal extent of figures from this report.

 

 

Figure 2. Map of new soil results from M2 northeast. Inset map shows location
of four new grab samples.

 

Figure 3a. Map of new soil results from West Huntoon.

 

 

Figure 3b. Map of new grab results from West Huntoon.

 

 

 

Figure 4. Map of new soil and grab results from Smith Mine area.

 

 

 

Figure 5. Map of new soil and grab results from the Tun claims.

 

ADDITIONAL INFORMATION

 

All soil and grab samples have been submitted to Paragon Geochemical
Laboratories, Reno, Nevada. Soil 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. Grab samples were analysed by method
Au-FA30/AuAg-GR30 for gold (30 g fire assay, with gravimetric finish for
overlimit samples) 35AR-OES for a 35-element suite via aqua regia digest and
ICP-OES.

 

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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