REG - Great Western Mining - West Huntoon soil and grab results

Great Western MiningAnnouncement

13/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241113:nRSM9572La&default-theme=true

RNS Number : 9572L  Great Western Mining Corp. plc  13 November 2024

GREAT WESTERN MINING CORPORATION PLC

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

 

 

WEST HUNTOON SOIL AND GRAB RESULTS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW)
announces positive results of soil and grab sampling at its West Huntoon
porphyry copper prospect.

 

HIGHLIGHTS

 

·    New soil results further extend the prospective area of the copper
porphyry setting.

·    The anomalous copper zone has now been expanded from approximately 2
km² to over 3 km².

·    Infill soils in the highest-grade area confirm previous results with
values of 954 and 571 ppm Cu.

·    A selective grab sample taken from an outcropping vein returned very
high values - 16.17 g/t gold, 207 g/t silver and 2.37% copper.

 

Great Western Chairman Brian Hall commented: "We are continuing to appraise
our West Huntoon copper porphyry prospect and are gaining an ever better
understanding of the relationship between the numerous prospects which make up
the extensive Huntoon Copper Project.  This season's field work has
significantly increased the area of the copper anomaly at West Huntoon which
is now the largest and highest-grade copper-in-soils anomaly in the wider
Huntoon Copper Project.

 

"Further evidence of vein-hosted high precious metal grades is also welcome
news.  We have drill-ready prospects at West Huntoon and the novated Huntoon
Mine Cooperation Agreement signed earlier this year will facilitate drilling
at the centre of the West Huntoon target in the near-term. West Huntoon
represents potential for a rapid upgrade of our copper portfolio."

 

INTRODUCTION

 

West Huntoon, located in the northwest of the Huntoon Valley in Mineral
County, Nevada, is a key prospect within Great Western's Huntoon Copper
Project where a resource of 19,000 T contained copper has already been
established through extensive drilling by the Company.  The Huntoon Copper
Project is a cluster of five prospects at various stages in the exploration
pipeline, all lying within a 6 km radius in the north of the Huntoon
Valley.  At West Huntoon, a zone of anomalous soils has now been expanded to
over 3 km(2) (740 acres) in area, with overlapping magnetic and chargeability
anomalies and granite outcrops which indicate a classic porphyry setting.
Follow-up soil sampling was undertaken this year to the northeast, over host
rocks of a similar age to those in the core West Huntoon zone. This area is
dominated by mafic porphyry outcrops with local copper showings. The host
rocks are crosscut by an aplitic dyke swarm and some granitic bosses.

 

SOIL SAMPLES

 

During the summer field season 47 new soil samples were collected, with 38
taken in the northeastern area and 9 as an initial infill profile proximal to
the best previous results in the centre of the existing anomaly (Figure 1).
Results range between 21 and 954 ppm Cu, with a median value of 157 ppm Cu.
These samples show good continuity in the copper anomalies reported. The
northeastern samples expand the total area of the soils anomaly at West
Huntoon by 50 ha (124 acres). The anomalous samples run to the edge of
overlying cover, beyond which samples the potentially mineralised rocks are no
longer accessible, indicating that continuation under this cover is highly
likely.  This pattern is repeated at multiple locations across the West
Huntoon prospect.  The infill profile produced two high grade samples (954
and 571 ppm Cu) which were adjacent to the strongest results in the previous
survey, indicating good repeatability in this area.

 

Proving the continuity of anomalism to the northeast in the direction of the
Company's copper resource at M2 is an important result. The 2024 IP surveys at
West Huntoon identified a chargeability anomaly under the edge of the valley
sediments proximal to this area and the identification of elevated copper
directly adjacent to this target further supports its prospectivity.
Additionally, during this fieldwork further small granitic intrusions were
identified within this area.

 

Figure 1. Map to show locations of new soil samples relative to previously
released data.

 

GRAB SAMPLES

Six selective grab samples were taken from the area, primarily for geochemical
purposes (Table 1).  However, one sample in the southwest of the area, from a
mineralised vein structure 1 m long by 30 cm wide at outcrop, included
strikingly high grades of 16.17 g/t Au, 207 g/t Ag and 2.37% Cu. Further
outcrops of this vein are being sought. This sample provides further evidence
that a series of high-grade veins are also present at West Huntoon, in
addition to its large porphyry potential.

 

Table 1. Grab sample locations and grades for key metals.

 Sample ID  X       Y        Au (ppm)  Ag (ppm)  Cu (ppm)
 GWM005568  362479  4225372  16.17     207       23,700
 GWM005560  363176  4225056  0.0025    0.1       15.6
 GWM005561  363284  4225665  0.009     0.5       11.2
 GWM005562  363306  4225668  0.0025    0.5       10.7
 GWM005563  363337  4225684  0.015     0.5       8.2
 GWM005567  364196  4227175  0.0025    0.1       121

 

121 MINING INVESTMENT FORUM

Great Western is participating in The 121 Mining Investment Forum in London on
14-15 November and the Company's presentation will be published shortly before
the event.

 

 

ADDITIONAL INFORMATION

 

All soil and grab samples have been submitted to Paragon Geochemical
Laboratories, Reno, Nevada. Soil 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 analysed by method
Au-FA30/AuAg-GR30 for gold (30 g fire assay, with gravimetric finish for
overlimit samples) 35AR-OES for a 35-element suite via aqua regia digest and
ICP-OES.

 

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.

 

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/Adam Cowl                                                                                                    +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 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 the
seventh and most recent acquisition, the Olympic Gold Project, is in the east
of the county, some 50 miles from the main group.  All the Company's claims
are 100% owned. Claims at the Eastside Mine Group have been contributed to a
pooling agreement with Bronco Creek Exploration, Inc. and in addition the
Company participates in the Huntoon Mine Area Cooperation Agreement with
landowner-neighbour Crowne Point Resources with whom it shares resources.
Great Western's small exploration team is supported by locally based
consultants and contractors.

 

The state of Nevada is 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.

 

 

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  DRLFLFVRLLLFLIS