REG - Great Western Mining - Mill Site Update

Great Western MiningAnnouncement

10/01/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240110:nRSJ1648Za&default-theme=true

RNS Number : 1648Z  Great Western Mining Corp. plc  10 January 2024

GREAT WESTERN MINING CORPORATION PLC

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

 

MILL SITE UPDATE

 

 

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 progress report on its 50% owned process mill in
Mineral County, Nevada.

 

·    Construction of mill site complete

·    All process plant on site for gravity separation with generator in
place

·    Permit granted by regulator for moving material to site from remote
locations

·    Commissioning and start-up of mill operations waiting on
environmental permit

·    Application for stage-2 leaching process to be submitted following
approval of permit for gravity separation

 

Construction of the mill for producing precious metal concentrates from mining
waste and ore through gravity separation was completed shortly prior to the
end of the year with all process equipment on site.  The mill is owned and
operated by Western Milling LLC, a 50-50 joint venture between Great Western
and local contractor Muletown Enterprizes LLC.

 

A generator has been installed on site for powering the plant which will be
replaced in due course by three-phase power from the local utility company.

 

The Federal Bureau of Land Management ('BLM') has now granted a permit for
collecting material from mine locations and delivery to the mill site.
Initially the mill will process approximately 35 tonnes per day and has the
capacity to be expanded at minimal cost to 200 tonnes/day, once operating
parameters have been established.

 

Commissioning and start-up are dependent on the grant of an operating permit
from NDEP (Nevada Department of Environmental Protection), timing of which is
outside the joint venture's control.  To the best of the Company's knowledge,
all environmental guidelines have been rigorously observed and in some cases
exceeded, the joint venture not being aware of any outstanding issues beyond
pressure of work at the environmental agency.  NDEP has advised the joint
venture that completion of the application has high priority.

 

Please use the following link to access a gallery of  mill photographs and
click on an individual photo for a description:
https://www.greatwesternmining.com/priorities/reprocessing/
(https://www.greatwesternmining.com/priorities/reprocessing/)

 

Great Western Chairman Brian Hall commented:  "Western Milling has achieved
its objective of completing  construction of the process mill by the end of
2023, within 12 months of project start-up.  The joint venture is ready to
commission the plant and  start operations as soon as the environmental
permit has been issued. "

 

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/Harry Davies-Ball                                                                                            +44 203 470 0470

 Walbrook PR (PR advisers)

 Nick                                                                                                                     +44 207 933 8783
 Rome

 

Notes to Editors

The Company has a large tract of acreage in Mineral County, Nevada. The
acreage partly consists of rugged, mountainous terrain, large parts of which
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 was rated the world's most mining friendly jurisdictions
by the Fraser Institute of Canada in 2023.  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. As well as mineral exploration and appraisal, he Company
is a 50% participant in the Western Milling LLC joint venture which has now
completed construction of a mill to process pre-mined material for secondary
recovery of gold and silver.  The mill is currently waiting on a state
environmental permit to enable commissioning and first production of precious
metal concentrates.

 

Through extensive drilling over a five-year period, GWM has established a
Mineral Resource on its M2 target area in the Black Mountains group of
claims.  4.3 million tonnes at 0.45% copper are reported, being 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDBGDBRGGDGSC