REG - Great Western Mining - Positive Soil and Grab Results at West Huntoon

Great Western MiningAnnouncement

30/01/2024 07:00

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RNS Number : 2833B  Great Western Mining Corp. plc  30 January 2024

GREAT WESTERN MINING CORPORATION PLC

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

 

POSITIVE SOIL AND GRAB RESULTS AT WEST HUNTOON

 

Potential to add significant further value to copper resource with results
revealing strong gold and copper grades and bonanza silver grades

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW),
which is exploring and developing gold, silver and copper targets in the
highly prospective Walker Lane trend of Nevada, is pleased to announce grab
and soil results from the West Huntoon area of the Company's Huntoon Copper
Project, with two bonanza-grade silver results, multiple other high-grade
precious metal occurrences and abundant copper anomalism. The results provide
further evidence of the existence of both a mineral-rich porphyry system and a
series of discrete high-grade epithermal veins which have the potential for
significant precious metals mineralisation.

 

HIGHLIGHTS

 

·    Potential large-scale copper porphyry system.

·    Discrete high-grade epithermal veins.

·    2km(2 ) copper-in-soil anomaly surrounding the granite system, open
in several directions.

·    Grab samples in the area show elevated copper and gold and bonanza
silver grades in newly mapped granites, including:

 

 o  Copper grab samples   5.82%, 4.85%, 3.82% and 1.56% Cu,
 o  Gold grab samples     7.29 g/t, 5.53 g/t and 4.51 g/t Au,
 o  Silver grab samples   2,438 g/t, 843 g/t, 108 g/t and 102 g/t Ag.

 

·    Elevated molybdenum levels also returned.

·    Targets for early drilling now being worked up under the umbrella of
the recently signed Huntoon Cooperation Agreement.

 

Great Western Chairman Brian Hall commented:   "We are highly encouraged by
the identification of bonanza-grade silver values in grab samples at West
Huntoon,  along with multiple gram gold results.  The existence of discrete
epithermal veins in this area is very encouraging and demonstrates that
precious metals may well add significantly to the upside of the Huntoon Copper
Project, while the recently signed Huntoon Mine Area Cooperation will
facilitate our continuing exploration efforts.

 

"These further positive results highlight the strength of our portfolio,
underpinning management's confidence in the future of this project and
creating a positive environment for attracting industry partners to help move
the copper story to the next stage."

 

BUILDING ON AN ESTABLISHED RESOURCE

 

In November 2023 Great Western announced the discovery of a significant area
of previously unmapped granite at West Huntoon.  This was confirmed in a
report from Dr Lawrence Carter, an independent expert on the nearby Yerington
district and porphyry systems in general, to be prospective for porphyry
mineralisation. Dr. Carter's report is available on the Company's website.
West Huntoon forms part of Great Western's Huntoon Copper Project which
already includes the established resource of 4.2 million tonnes grading at
0.45% Cu at M2.

 

Grab and soil sampling in the area was completed by the end of the year and
results are tabulated below. Grab sample results show strong gold and copper
grades and exceptionally high silver grades at several locations near to or
within newly mapped granite outcrop areas. Soil samples show a 2km(2) area of
anomalous copper values in soils surrounding the granite cupola zone, limited
only by the edges of thin volcanic cover to the north and northeast, and basin
sediments to the southeast.

 

GRAB SAMPLE RESULTS

 

Ten new grab samples were collected in the West Huntoon claims (Figure 1 &
Table 1). This sampling was selective and aimed at testing areas of potential
mineralisation observed in the field. Several results show strong grades of
copper, gold and silver. Two samples contain strongly elevated molybdenum
which is further evidence of a porphyry system.

 

The most gold-rich sample contained 7.292 g/t Au and 843 g/t Ag, taken from
host rock near a small granite boss in the southeast of the area and mapped in
late 2023.

 

A sample from the main West Huntoon granite graded at 2,438 g/t Ag, 5.531 g/t
Au and 1.56% Cu, selected for sampling due to visible copper oxides. A nearby
copper-oxide-bearing granite sample returned 102 g/t Ag and 4.514 g/t Au and
0.09% Cu.

 

The most copper rich sample (5.82% Cu) came from an area of abundant copper
oxide showings 500 m southwest of the granite. Another two copper rich
samples (4.85% and 3.82% Cu) were obtained from an old working situated in
host rocks 200 m southwest of the granite. These samples also contained
significant silver (55 g/t and 108 g/t respectively).

 

Figure 1. Map of grabs at West Huntoon. New grabs from 2023 and all previous
grabs shown.

 

These grab sample results highlight the potential for high-grade precious
metals at West Huntoon occurring in addition to the large-scale copper
porphyry target identified during the 2023 field season. Although vein mining
has been carried out on the claims in the past, the majority of the samples
were not taken from existing workings. The West Huntoon granite and contact
zones will be thoroughly grab sampled over a non-selective grid in 2024 to
test for significant copper-gold-silver zones outcropping at surface.

 

Table 1. 2023 grab samples, refer to figure 1 for locations. See additional
information, below, for note on units. BDL indicates below detection limit.

 

 Sample ID  Description                                      Cu (%)  Au (g/t)  Ag (g/t)  Mo (g/t)
 GWM005519  Quartz breccia with copper oxides and sulphides  3.82    0.274     108       3
 GWM005520  Quartz breccia with copper oxides                4.85    0.164     55        4
 GWM005521  Quartz breccia with copper oxides                0.15    0.015     14.2      bdl
 GWM005522  Quartz with copper oxides and sulphides          5.82    0.494     78.7      32
 GWM005523  brecciated volcanics with quartz and galena      0.06    7.292     843       140
 GWM005524  granite with copper oxides                       1.56    5.531     2,438     442
 GWM005525  granite with copper oxides + magnetite           0.64    0.029     14.3      1
 GWM005514  Quartz vein in sheared host sediments            bdl     1.116     0.8       5
 GWM005515  Propylitic alt granite with iron oxides          0.004   0.025     0.9       bdl
 GWM005516  Granite with copper oxides                       0.09    4.514     102       16

 

SOIL SAMPLING RESULTS

 

Last year, 135 new soil samples were taken in the West Huntoon claims,
establishing a copper anomaly (>75 ppm Cu) of 2 km(2) surrounding the
granite outcrop, with strong outlier samples (11 samples >300 ppm, 5
samples > 400 ppm, maximum value 528 ppm Cu) at several locations.

 

The new soil results also show areas of broad gold enrichment (anything >5
ppb is considered anomalous). Of 135 samples taken, 124 are >10 ppb Au and
47 are >25 ppb Au. There are a small number of higher-grade examples,
including a total of eight which are >50 ppb Au and four outliers over 100
ppb, including 1,940, 320, 176 and 106 ppb Au (Figure 2).

 

When the new soil samples and previous sampling are considered together, a hot
spot of eleven samples in the southeast of the area is strongly anomalous for
copper (121 - 528 ppm Cu) and features some of the higher-grade gold results
(248, 164 and 106 ppb Au). This cluster of points is surrounded on three sides
by tertiary cover, with a high probability of continuing anomalism under the
volcanic units. The area is located approximately 250 m southeast of the West
Huntoon granite outcrop and represents a new exploration target.

 

Despite the existence of such hot spots, copper was not generally shown to
correlate with precious metals in the soil results.  Although there are areas
where copper, gold and silver are enriched together, a high copper grade does
not consistently indicate high gold and silver grades and vice versa. This
suggests two different mineralising systems in the area, potentially a
deeper-forming porphyry system, subsequently overprinted by shallower
epithermal veins, all now exposed at surface.  This highlights the abundance
of potential at West Huntoon, where evidence is rapidly building for both a
large-scale copper system and discrete high-grade vein-hosted precious metal
targets.

 

Figure 2. Map focused on the West Huntoon Granite showing all soils results
(2023 and 2015, latter form straight N-S transects), with colour coding for
copper grade (ppm) and labels for gold grade where it is >100 ppb. Grey
outline is location of Crowne Point Patent Claims.

 

ADDITIONAL INFORMATION

 

All soil samples were submitted to Paragon Geochemical Laboratories, Reno,
Nevada. Samples were screened to -80 mesh and analysed by method FSAU-25, aqua
regia digest with ICP-MS finish for a 51-element suite. Quality control
samples were inserted by the company and results reviewed prior to release.

 

Grab samples were prepped and analysed at Bureau Veritas in Reno, Nevada, by
methods FA430 (fire assay) for gold and AQ300 aqua regia digest with ICP-ES
finish for a 33-element suite. Internal QA/QC samples were inserted by the
analytical laboratories and reviewed by the Company prior to release.

 

Note on units - for grab samples copper grades are quoted in percent (%) and
other metals in grams per tonne (g/t). For soils, which are typically
lower-grade, gold is quoted in parts per billion (ppb) and copper in parts per
million (ppm). Parts per million is equivalent to grams per tonne.

 

QUALIFIED PERSON STATEMENT

 

The information in this announcement that relates to exploration results is
based on information reviewed by Dr James Blight MGeol PhD MAusIMM who is
Exploration Manager of Great Western Mining PLC. Dr Blight is 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, Chairman                                              +44 207 933 8780
 Max Williams, Finance Director                                    +44 207 933 8780

 Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker)

 Brian Garrahy                                                     +353 1 679 6363

 SP Angel (Joint Broker)

 Ewan Leggat/Harry Davies-Ball                                     +44 203 470 0470

 Walbrook PR (PR advisers)

 Nick Rome                                                         +44 207 933 8783

 

 

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. The Company is party to a 50-50 joint venture known as
Western Milling LLC which is constructing a mill to process pre-mined material
for secondary recovery of gold and silver.

 

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.

 

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.

 

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