Great Western Mining Corp. plc M4 Drill Results (0103K)
11 December 2018 - 2:11AM
UK Regulatory
TIDMGWMO
RNS Number : 0103K
Great Western Mining Corp. plc
10 December 2018
Great Western Mining Corporation PLC
("Great Western Mining", "GWM" or the "Company")
Positive Drill Results at M4
A total of six bore holes have been completed at M4, Great
Western Mining's (AIM: GWMO and ESM: 8GW) Copper-Gold prospect in
Mineral County, Nevada.
Highlights
-- 43 metre copper-bearing vein intersected with a high reading of 0.74% Cu
-- Anomalous gold encountered in vein with a high reading of 0.338 ppm Au
-- Three holes at base of M4 suggest a deep copper porphyry target
-- New Plan of Operations submitted to United States Forestry Service
Three diamond core drill holes were completed at M4 to test
mineralisation beneath large outcrops of cupiferous vein and
silicic alteration mapped at surface. Assay results from two out of
the three holes, M4-04 and M4-05, have now been received. M4-06 was
logged and sent for assay in mid-November with the results due in
January 2019. All three bore holes penetrated sedimentary rock
structures. One very large NE-SE trending breccia vein was
encountered in M4-05 and may have been briefly clipped at the
bottom of M4-04. This was a continuous 43 metre copper-bearing vein
averaging 0.24% Cu throughout its length and containing two higher
grade intercepts of 0.53% Cu over 3.8 metres and 0.74% Cu over 1.8
metres. Anomalous gold was also encountered in the vein with high
readings of 0.338 ppm Au and 0.298 ppm Au.
The geologic character of the M4-05 vein intercept, and geology
mapped at the surface, suggest that the vein system may extend 122
metres along a northwest strike and may be open to the east. A vein
"shoot" within these confines may also extend to considerable depth
below the M4-05 large vein intercept.
The significant copper intersects from M4-05 are summarised
below:
Table 1-M4-05 Copper Intersects > 1000 ppm (0.1% Cu)
From To Interval Copper (Cu)
(metres) (metres) (metres) (ppm)
39.7. 40.46 0.7 9681
---------- ---------- ------------
106.2 149.2 43.0 2370
Including
106.2 110.0 3.8 5275
Including
121.0 122.8 1.8 7425
---------- ---------- ------------
The significant gold intersects from M4-04 and M4-05 are
summarised below:
Table 2- Gold Intersects > 0.1 ppm
Hole From To Interval Gold (Au)
(metres) (metres) (metres) (ppm)
M4-04 290.3 292.5 2.1 0.122
---------- ---------- ---------- ----------
M4-04 294.5 296.6 2.0 0.180
---------- ---------- ---------- ----------
M4-05 106.2 107.3 1.1 0.338
---------- ---------- ---------- ----------
M4-05 140.2 141.1 0.9 0.298
---------- ---------- ---------- ----------
M4-05 142.0 142.9 0.9 0.151
---------- ---------- ---------- ----------
M4-05 143.9 144.8 0.9 0.11
---------- ---------- ---------- ----------
Three Reverse Circulation ("RC") holes were drilled with a
primary aim of testing the western extent of an Induced
Polarisation ("IP") anomaly detected by previously conducted IP
studies. All three holes were strongly oxidised throughout their
lengths but the holes were too shallow to hit the postulated deep
sulphides. However, the traces of partially oxidised, apparently
stratiform sulphides encountered over a 21-metre interval near the
bottom of hole M4-02 is regarded by the GWM field team as a good
indicator of remnant copper oxides above deeper sulphide structures
below. In July the Company increased the M4 claim area with the
addition of thirty-two claims to the West of M4 for future
exploration of a projected deep copper porphyry target.
Great Western Mining is planning a follow-up drill programme and
has submitted a "Plan of Operations" to the United States Forestry
Service ("USFS") which is currently being reviewed. The process of
approval and bonding is expected to be completed by May 2019 with
drilling to commence as soon as practicable afterwards.
Chief Executive David Fraser commented: "The assay data from M4
are very encouraging. Next year's drilling will test the extent of
what appears to be a very large and continuous structure. We will
continue to keep shareholders updated as plans progress."
Qualified Person
Donald G. Strachan is a Certified Professional Geologist
(CPG-10376) under the auspices of the American Institute of
Professional Geologists. Mr. Strachan is also a Fellow of the
Geologic Association of Canada, a Member of the Society of Economic
Geologists, and a Member of the Geological Society of Nevada.
Mr Strachan has sufficient 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' and as a Qualified Person as defined in the Note for
Mining and Oil & Gas Companies which form part of the AIM Rules
for Companies.
Mr Strachan has reviewed and approved the geological content of
this announcement.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Note: ppm = parts per million
ENQUIRIES:
Great Western Mining Corporation +44 207 933 8795 (via Walbrook)
PLC
David Fraser, Chief Executive
Davy (Nomad, ESM Adviser & Broker)
John Frain
Matthew De Vere White +353 1 679 6363
Novum Securities Limited (Joint
Broker)
Jon Belliss +44 207 399 9400
Walbrook PR (UK PR and IR) +44 207 933 8795
Paul Cornelius greatwesternmining@walbrookpr.com
Nick Rome
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END
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