REG - Great Western Mining - Geophysical Surveys Successfully Completed

Great Western MiningAnnouncement

24/03/2022 07:01

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RNS Number : 8224F  Great Western Mining Corp. plc  24 March 2022

GREAT WESTERN MINING CORPORATION PLC

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

 

 

GEOPHYSICAL SURVEYS SUCCESSFULLY COMPLETED

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW),
which is exploring and developing gold, silver, and copper targets in Nevada,
provides the following summary of geophysical survey work carried out over
selected claim groups.

 

HIGHLIGHTS

Induced Polarisation Survey

·    Eastside Mine: IP results have identified two main graben structures
associated with surface veining, alteration and copper shows

 

Drone Magnetometry

·    Mineral Jackpot: Corridors of low magnetic response shown to parallel
the main vein orientation and extend beyond the known limits of historic
mining

·    Mineral Jackpot, Jack Springs, Huntoon and Tun:  Drone magnetometry
enhances understanding of broad structural framework facilitating 2022
fieldwork

 

Drone Orthophotography

·    Mineral Jackpot and Olympic Gold: High-resolution digital terrain
models created for accurately assessing forthcoming resource estimates of
surface waste material for reprocessing

 

GEOPHYSICAL SURVEYS

 

During the winter, multiple geophysical surveys have been conducted over Great
Western's portfolio of claims. These surveys consisted of three induced
polarisation (IP) profiles of 2,400m each at the Eastside Mine, together with
drone magnetometry at the Mineral Jackpot, Jack Springs, Huntoon and Tun claim
groups, making a total of 591 line km surveyed.  In addition, 25.7km² of
orthophotography surveys were conducted over Mineral Jackpot and the OMCO Mine
site.  These surveys have (1) enhanced the Company's understanding of the
structures that controlled mineralisation (2) helped to generate new drill
targets where anomalies coincide with surface showings and (3) provided
high-resolution topographic models covering Great Western's stocks of
mineralised mine waste.

 

Eastside Mine Induced Polarisation Survey

At the Eastside Mine, which is a copper target for the Company, the IP survey
profiles were orientated in an east-west direction and designed to test down
to 300m depth. Two of the three profiles successfully identified structures of
interest, leading to the identification of two graben structures bounding a
central horst block. The faults that control these structures have both high
chargeability and high resistivity features, interpreted as representing
potential mineralised zones (chargeable) adjacent to silicified wall rocks
(resistive).  The structures spatially correspond to several surface features
indicative of mineralisation, including copper showings, silicified stockwork
zones and copper soil geochemistry halos. The results achieved highlight the
prospectivity of several areas at the Eastside Mine, providing potential
targets for future drilling.

 

Mineral Jackpot, Jack Springs, Huntoon and Tun Drone Magnetometry

Broad magnetometry coverage has been obtained over the Company's gold and
copper targets at Jack Springs and Huntoon, the gold and silver targets at the
Tun group and over the Mineral Jackpot project (Black Mountain claims group).
Initial interpretation of the magnetometry data reveals the near surface
structural environment and has enhanced the Company's understanding of this
structural environment.  Further interpretation and modelling are ongoing.

 

Mineral Jackpot and Olympic drone orthophotography

Orthophotography surveys have now been completed over the spoil heaps at
Mineral Jackpot and the tailings pads at the OMCO Mine (Olympic Gold
Project).  The resulting digital terrain models, together with further
planned sampling at both sites, will support volumetric assessments for use in
forthcoming resource estimates of the spoil heaps and tailings.

 

Great Western Chairman Brian Hall commented:   "During the Nevada mountain
winter when drilling and other field work is not practical, we have been able
to make solid progress in gaining a better understanding of some of our key
projects and the regional setting, using geophysical contractors who have
delivered on time and under budget.  We will make effective use of the
results achieved in advancing our plans for exploration and appraisal drilling
as well as for exploitation of our inventories of pre-mined material.  As
ever we will do our best to keep shareholders informed in a timely manner."

 

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)

 John Frain                                                                                                               +353 1 679 6363

 Novum Securities (Joint Broker)

 Jon Belliss                                                                                                              +44 207 399 9400

 Walbrook PR (PR advisers)

 Nick Rome/Nicholas                                                                                                       +44 207 933 8783
 Johnson

 

 

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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