REG - Great Western Mining - Mineral Jackpot Spoil Heaps Grab Sampling Results

Great Western MiningAnnouncement

23/02/2022 07:00

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RNS Number : 4758C  Great Western Mining Corp. plc  23 February 2022

GREAT WESTERN MINING CORPORATION PLC

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

 

 

MINERAL JACKPOT

GRAB SAMPLING RESULTS FROM SPOIL HEAPS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) which
is exploring and developing gold, silver and copper targets in Nevada
announces the results of recent spoil heap material sampling at the Mineral
Jackpot claim group.

 

HIGHLIGHTS

·    Assay results from sampling of 51 spoil heaps

·    Average grades of vein material 1.57 g/t Au (range 0.003 - 21.17 g/t
Au) and 327 g/t Ag (range 0.8 - 4988 g/t Ag).

·    Average grades of altered wall rock 0.04 g/t Au (range 0.009 -
1.094 g/t Au) and 14.8 g/t Ag (range 0.4-103.00 g/t Ag).

·    Spoil heaps composed of average 5% vein material and 50% altered wall
rock

 

ASSAY RESULTS AND SPOIL HEAPS COMPOSITION

 

GWM's Mineral Jackpot claim group has seen considerable mining activity in the
past, with several high-grade veins worked both at surface and underground for
gold and silver. There is a substantial quantity of waste material remaining
at surface around these workings in the form of spoil heaps and initial assay
results have now been received from these heaps.

 

In total 51 mineralised spoil heaps have now been located  at Mineral
Jackpot, typically composed of three main types of material, being vein,
altered granite host-rock and unaltered granite. Two composite samples were
collected from each pile, one of vein rock and one of altered host. The
proportional content of each pile or sampling location was then visually
assessed. Sampling of the vein and altered granitic host-rock material was
carried out in an unbiased manner and was random, not selective. These results
are intended to provide an initial guide only to the general nature of the
material and not an estimate of the contained mineralisation.

 

The assay results received are set out in Table 1, along with the portions of
vein, altered granite and unaltered granite in each heap.

 

Vein material was identified in all but two of the heaps, with median grades
of 1.57 g/t Au (with a range of 0.003 - 21.17 g/t Au) and 327 g/t Ag (with
a range of 0.8 - 4988 g/t Ag). Altered granite occurs in all but two of the
heaps, with median grades of 0.04 g/t Au (with a range of 0.009 - 1.094 g/t
Au) and 14.8 g/t Ag (with a range of 0.4-103.00 g/t Ag).

 

The results have led to a prioritisation of selected heaps for follow-up. The
next step will be to perform representative sampling of those heaps considered
most favourable by size and content and to calculate accurate volumes for the
heaps, using a detailed orthophotography survey which will be carried out in
the near future.

 

These measurements are expected to provide sufficient information for
completion of a resource estimate.

 

 

Table 1. Composition proportion and assay results of Mineral Jackpot spoil
heaps. Heap size will be assessed by a detailed orthophotography survey of the
ground in the near future. Note: unaltered granite material was not sampled.

 Spoil Heap ID  Spoil Heap Composition                  Vein Assay        Altered Granite Assay

                Visual Assessment (%)
                Vein      Alt. granite  Unalt. granite
                Au (ppm)                Ag (ppm)                Au (ppm)  Ag (ppm)
 1-a            1         29            70              0.079   24.2      0.041        13.5
 1-b            3         60            37              0.093   29.8      0.018        15.5
 1-c            1         69            30              0.023   8.7       0.030        12.4
 1-d            5         80            15              6.510   2423.0    0.091        33.9
 2-a            30        50            20              0.624   372.0     0.059        88.8
 2-b            3         97            0               0.633   589.0     0.025        13.7
 2-c            5         95            0               1.259   127.0     0.036        5.0
 5              3         77            20              1.574   49.8      0.106        14.9
 6              20        60            20              1.273   666.0     0.037        21.3
 3              20        50            30              1.046   500.0     0.050        90.8
 4-a            20        80            0               1.285   368.0     0.029        14.8
 4-b            10        90            0               0.319   201.0     0.022        25.7
 7              30        50            20              0.628   433.0     0.023        32.8
 8              95        5             0               1.244   613.0     0.156        103.0
 9              25        35            40              4.155   1358.0    0.099        67.2
 10             40        60            0               3.326   935.0     0.036        28.9
 12             30        45            25              5.080   1507.0    0.075        32.2
 14             2         58            40              4.762   4988.0    0.028        31.5
 16             1         90            9               2.945   1214.0    0.038        12.9
 20             0         1             99              n/a     n/a       0.009        0.4
 22             0         20            80               n/a    n/a       0.011        1.8
 26             5         65            30              0.272   101.0     0.123        33.7
 11             3         70            27              0.041   11.6      0.019        7.2
 15-a           20        45            35              1.324   580.0     0.024        16.3
 15-b           20        45            35              4.272   1673.0    0.041        42.4
 17             1         30            69              0.070   26.5      0.041        7.7
 18-a           2         70            28              0.819   62.4      0.026        13.1
 18-b           3         97            0               10.580  2130.0    0.068        34.4
 19             15        65            20              4.694   543.0     0.041        24.2
 21             30        50            20              6.550   1421.0    1.094        103.0
 23-a           2         88            10              7.850   747.0     0.047        44.4
 23-b           1         30            69              1.916   659.0     0.022        10.1
 23-c           30        20            50              4.372   736.0     0.028        13.0
 23-d           20        50            30              2.740   1062.0    0.071        20.3
 23-e           1         59            40              0.059   18.3      0.020        1.1
 28             20        50            30              2.317   83.0      0.032        1.9
 27             4         86            10              0.707   7.2       0.024        1.0
 33             4         20            76              9.220   976.0     0.023        6.8
 34-a           10        40            50              0.559   38.9      0.062        26.1
 34-b           96        2             2               3.438   240.0     0.183        35.4
 34-c           100       0             0               7.620   105.0     n/a          n/a
 32             20        30            50              5.050   327.0     0.083        9.6
 30             5         65            30              18.390  1019.0    0.249        15.5
 29             1         80            19              0.158   8.5       0.049        7.4
 36-a           1         29            70              0.054   3.6       0.077        2.5
 36-b           1         29            70              0.665   27.3      0.207        3.0
 35             2         28            70              10.500  224.0     0.077        10.6
 38-a           10        1             89              2.290   46.5      0.010        0.9
 38-b           15        10            75              21.170  198.0     0.068        4.2
 38-c           20        30            50              19.770  251.0     0.063        6.2
 39             100       0             0               0.003   0.8       n/a          n/a
 Max            100       97            99              21.170  4988.0    1.094        103.0
 Median         5         50            30              1.574   327.0     0.041        14.8
 Min            0         0             0               0.000   0.8       0.010        0.4

 

 

Great Western Chairman Brian Hall commented: "These Mineral Jackpot results
are highly encouraging, indicating a broad distribution of mineralised
material throughout the spoil heaps, with locally some very high grades of
both gold and silver. We are now in a position to prioritise the largest and
richest spoil heaps for use in the next phase of commercialising this
significant asset."

 

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.

 

MARs Statement:  This press release contains inside information as defined in
Article 7(1) of the Market Abuse Regulations.

 

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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