REG - Great Western Mining - Operations Update

Great Western MiningAnnouncement

25/08/2022 07:00

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RNS Number : 1438X  Great Western Mining Corp. plc  25 August 2022

GREAT WESTERN MINING CORPORATION PLC

(AIM - GWMO, Euronext Growth - 8GW, "Great Western" or "the Company")

 

OPERATIONS UPDATE

 

Great Western Mining Corporation PLC provides the following update on its
operations in Mineral County, Nevada.

 

MINERAL PROCESSING JOINT VENTURE

 

The Company's processing joint venture project is making good progress.  A
project manager has been appointed and the first stage design of a processing
mill for secondary recovery of gold and silver from mining waste is now
complete and will shortly be reviewed by an independent engineer prior to
formal sign-off.  The initial phase of the project will consist of gravity
separation, followed by a contained leaching operation for tailings.
 Independent certification of the design and formalisation of the processing
joint venture agreement are expected in the coming weeks, following which a
detailed application to construct and operate the mill will be submitted to
the state of Nevada.  The mill and associated facilities will have sufficient
capacity to accommodate all known mining waste on claims held by the joint
venture partners, with excess capacity to handle any additional material
acquired from third parties in the area.

 

ASSAY RESULTS FOR 2022 DRILL PROGRAMME

 

Great Western has this summer completed a programme of twenty four holes
totalling 2,798 metres drilled depth over four separate prospects and has
lodged cuttings at two separate laboratories for assay and certification.
 Results are expected to start arriving in September and will be announced
when available.  The Company's next phase of exploration and development will
be planned around these results.

 

COMPLETION OF RECLAMATION PROGRAMME

 

A land reclamation programme covering the Rock House group, the Black Mountain
group and the Olympic Gold Project was completed in August.  There are strict
limits on how much ground may be disturbed at any one time for exploration
and, by restoring drill sites to their original condition, Great Western is
fulfilling its obligations under surface management regulations while freeing
up potential acreage for a 2023 drilling programme.

 

Upon official acceptance of the reclamation works, cash-backed bonds lodged by
the Company against future performance may either be reclaimed in cash or
applied as surety against future exploration.

 

Great Western Chairman Brian Hall commented:  "Our drilling programme was
conducted effectively, on time and under budget with encouraging signs of
mineralisation so we share investors' frustration at the delays in securing
assay results, which appears to be an industry-wide problem in the area.  We
will announce the assay results as soon as available and in the meantime we
are making good progress on the processing joint venture.  We anticipate a
busy and productive remainder of the year and will keep shareholders updated."

 

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

 Novum Securities (Joint Broker)

 Jon Belliss                                                                                                              +44 207 399 9400

 Walbrook PR (PR advisers)

 Nick                                                                                                                     +44 207 933 8783
 Rome

 

Notes to Editors

The Company has a large acreage position 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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