REG - Great Western Mining - Mineral Jackpot Road Completion

Great Western MiningAnnouncement

29/03/2022 07:00

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RNS Number : 2582G  Great Western Mining Corp. plc  29 March 2022

GREAT WESTERN MINING CORPORATION PLC

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

 

MINERAL JACKPOT ROAD COMPLETION

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW),
which is exploring and developing gold, silver and copper targets in Nevada,
is pleased to announce that the upgrade of the road to its Mineral Jackpot
group of properties is now complete.

 

This road connects the Company's base at Marietta to the Mineral Jackpot group
of properties which is made up of five historic mines - the Mineral Jackpot
Mine, the Bass Mine, the Ming Toy Mine, the Silver Bell Mine and the Silver
Moon Mine.  None of these, which date from the late 19(th) and early 20(th)
centuries, has been exploited in recent times but in the last two years rock
chip sampling, soil sampling, magnetometer surveys and drone surveys carried
out by Great Western have identified exciting potential for further gold and
silver exploitation.  As previously announced, the Company estimates an
approximate doubling of the mineralisation over the area and believes there is
connectivity between the five individual mines.

 

The road to Mineral Jackpot is 14km in length with a vertical elevation of
approximately 660m from Marietta to the mine site.  The work has involved
widening the existing road from 8 feet to 14 feet (2.4m to 4.3m) and grading
it.  Where the road is built into the mountainside it has been blasted over a
distance of several hundred metres to achieve the required width and it is now
accessible for large vehicles, including rigs and associated equipment for
drilling operations and trucks to enable removal of spoil material for
processing.

 

Great Western has a permit in place for a five shallow-hole drill programme at
Mineral Jackpot to test high grade outcropping veins close to the historical
mine workings.  The Company aims to drill some or all of these holes as part
of the 2022 work programme, subject to contractor availability

 

51 spoil heaps have already been identified at Mineral Jackpot, left over from
historic mining operations.  Assay results from the spoil heaps were
published on 23 February 2022 as part of ongoing work in planning for
secondary recovery processing of gold and silver.  Until now it has only been
possible to load out small quantities of this material from site but the
completion of the road opens up the means to transport large volumes.  The
upgraded road provides access to the main spoil heaps but minor spur roads
will be needed to access some of the more remote spoil heaps in due course.

 

In early April a management visit to site is planned in conjunction with
specialist advisers to progress the reprocessing project.

 

Great Western Chairman Brian Hall commented:  "Completion of this road
represents a very positive start to the 2022 work season on our claims in
Mineral County, Nevada and is a significant step in enabling us to exploit the
Mineral Jackpot area.  Our field team is in place and well advanced in
preparations for first drilling, likely to commence at the Rock House
properties, the precise timing of which will depend on the drill contractor.
We will keep shareholders informed and are looking forward to making strong
progress on all fronts this year"

 

 

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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