TIDMGWMO
RNS Number : 4857D
Great Western Mining Corp. plc
26 June 2019
Great Western Mining Corporation PLC
("Great Western Mining", "GWM" or the "Company")
Operational Update
Great Western Mining (AIM: GWMO; Euronext Growth: 8GW) is
pleased to provide the following update on its 2019 field programme
in Mineral County, Nevada.
Between April and June 2019, a geological mapping, rock chip
sampling and soil sampling programme has been completed on the TUN,
JS, RH & EM groups of claims covering a total area of 47.6
km(2) .
A structural synthesis of mineralised veins and brecciated fault
zones found in the field, along with a review of a previous Induced
Polarisation and Resistivity (IP/RES) survey, has shown excellent
correlation with regional anomalous aeromagnetic lineations
outlining the position of the Golconda Thrust Fault.
The Golconda Thrust Fault is an extensive regional structure
spanning Nevada and providing a major pathway for hydrothermal
mineralisation. The gold-silver Candelaria mining district has
historically been reported as the most westerly mapped extent of
the contiguous Golconda Thrust Fault terrane.
However, recently completed studies by GWM geologists have
enabled them to trace discontinuous splays of the
Candelaria-Golconda Fault west of the Candelaria mining district,
directly intersecting identified mineralised structures and
geophysical anomalies within the EM, RH, JS & TUN groups of
claims. Great Western Mining's Golconda Claims therefore sit
directly upon the projected western continuation of the fault
system that hosts the gold-silver Candelaria mining deposits.
Please click link below to view a PDF map of the
Golconda-Candelaria Fault Claims.
http://www.rns-pdf.londonstockexchange.com/rns/4857D_1-2019-6-26.pdf
Within the TUN Group of claims (M6), several quartz-hematite
veins up to 2 metres wide, over a 2 km strike length of surface
exposure, have been located and sampled. The veins occur within a
heavily faulted and oxidised sedimentary sequence. Rock chip
samples taken from surface exposures, consisting of 2 - 5 kg of
material per sample, were submitted to accredited laboratories in
Reno, Nevada for precious and base metal analysis. Results from
twenty-eight samples collected at TUN are given in Table 1, showing
only elevated gold values of > 0.1 ppm Au and elevated copper
values of >0.1% Cu.
Table 1 Rock chip assay results taken at TUN, containing
elevated levels of gold (>0.1 ppm) and copper (>0.1%)
only
X Y Claim Au (ppm) Cu (%)
359124 4219358 TUN 9.84 0.04
-------- ------ --------- -------
359230 4219422 TUN 4.99 0.04
-------- ------ --------- -------
359171 4219372 TUN 4.15 0.08
-------- ------ --------- -------
359307 4219174 TUN 2.66 0.07
-------- ------ --------- -------
359152 4219374 TUN 1.33 0.01
-------- ------ --------- -------
359243 4219390 TUN 0.83 0.01
-------- ------ --------- -------
358852 4219113 TUN 0.57 0.00
-------- ------ --------- -------
359676 4219354 TUN 0.55 0.57
-------- ------ --------- -------
359163 4219376 TUN 0.36 0.04
-------- ------ --------- -------
359297 4219181 TUN 0.27 0.02
-------- ------ --------- -------
359220 4219413 TUN 0.18 0.01
-------- ------ --------- -------
359220 4219413 TUN 0.13 0.07
-------- ------ --------- -------
359243 4219390 TUN 0.11 0.00
-------- ------ --------- -------
357968 4219399 TUN 0.07 1.21
-------- ------ --------- -------
359683 4219496 TUN 0.00 1.11
-------- ------ --------- -------
359685 4219354 TUN 0.00 0.57
-------- ------ --------- -------
359297 4219161 TUN 0.00 0.11
-------- ------ --------- -------
At RH Group (M7), massive sulphide bearing oxidised quartz
breccia veins with pervasive silicification and argillic alteration
on faulted contacts between slate, siltstone and rhyolites have
been mapped and sampled. These mineralised structures are traceable
across the entire 2.7 km east-west extent of the RH claim block.
Twenty-two rock chip samples were collected in April 2019 and Table
2 shows elevated gold and copper values in one of the samples,
indicating the presence of mineralising fluids within the fault
block. This finding will be followed up with further rock chip
sampling and a surface soil sampling programme.
Table 2 Rock chip assay results taken at RH, with elevated gold
values >0.1 g/T Au and elevated Copper values > 0.1% Cu
X Y Claim Au (ppm) Cu (%)
379646 4222695 RH 0.243 0.13
-------- ------ --------- -------
Within the JS Group of claims, the M5 prospect lies to the south
of the Company's M4 Copper-Gold project. M5 is a copper-gold target
associated with sulphide-quartz veining along a gabbro and
limestone contact. Results from twenty-eight rock chip samples
taken at M5 are given in Table 3, indicating elevated gold and
copper values.
Table 3 Rock chip assay results taken at M5 prospect, within the
JS Group, showing only samples with elevated gold (>0.1 ppm) and
copper (>0.1%) values
X Y Claim Au (ppm) Cu (%)
371386 4222130 JS 0.74 0.01
-------- ------ --------- -------
371427 4222156 JS 0.74 0.03
-------- ------ --------- -------
371427 4222156 JS 0.30 0.01
-------- ------ --------- -------
371408 4222220 JS 0.15 0.01
-------- ------ --------- -------
371402 4222103 JS 0.12 0.01
-------- ------ --------- -------
371354 4222058 JS 0.02 2.79
-------- ------ --------- -------
Recent geological mapping at the EM Group (M8) has identified
numerous copper-quartz-iron oxide breccia veins in silicified
stockworks and fault zones that may be traced across large areas of
the claim block. Thirty-one surface rock chip samples taken at EM
have been submitted to the Bureau Veritas Inspectorate laboratory
in Reno, with results expected within the next few weeks. A soil
sampling programme is currently underway at EM to define further
anomalous targets and host structures.
These recent results demonstrate the potential prospectivity of
the Golconda-Candelaria Fault corridor on Great Western Mining
claims, evidenced by a regional aeromagnetic anomaly exceeding 4 km
in length and encompassing the width of the JS group; 1-2 m wide
gold bearing quartz veins within intensely iron oxidized fault
zones at TUN Group along a 2 km strike length; and copper oxide,
massive sulphide & quartz-iron breccia veins in both silicified
and argillised fault zones across both the RH and EM groups. These
findings provide a new substantial geological and mineralogical
model that will form the basis of future exploration activities on
the Golconda Claims by the Company.
Further programmes are planned for the TUN, RH and JS groups
over the coming field season.
Chief Executive, David Fraser commented: "The early part of this
year's field programme has yielded some really encouraging results.
The potential westward extension of the Golconda Fault corridor
onto the GWM claim area has significant implications, supporting
the Company view of district style faulting over our land area. We
are particularly excited about the implications this may have for
the very large IP anomaly over M4 that is perfectly aligned to the
northern tramline of the Golconda Fault. As previously reported the
Company is planning a drilling programme this Autumn to target the
M4 anomaly. We look forward to reporting further results as the
field work on the Golconda claims continues this Summer."
Qualified Person
Information in this announcement has been reviewed by William
Cooper, who is the Chief Geologist and Exploration Manager of Great
Western Mining. He holds a MSc in Mining Geology from the Camborne
School of Mines. He is a Member of the Australian Institute of
Geoscientists (MAIG) and a Fellow of the Geological Society of
London (FGS), and is a Qualified Person as defined in the Note for
Mining and Oil & Gas Companies which form part of the AIM Rules
for Companies. Mr Cooper consents to the inclusion of the
information in the form and context in which they appear.
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, Euronext Growth
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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