TIDMGWMO
RNS Number : 6739G
Great Western Mining Corp. plc
28 July 2021
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
TRAFALGAR HILL AND WEST RIDGE DRILLING RESULTS
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing early-stage gold,
silver and copper targets in Nevada, is pleased to announce results
of its Trafalgar Hill drilling programme at the Olympic Gold
Project.
HIGHLIGHTS
Trafalgar Hill
-- High grade intercepts of up to 8.90 grams/tonne gold achieved
-- Drilling results support the potential for target expansion
-- Potential size and value of the Company's prospects underpinned
-- Successful vein extension
-- Step-out drilling planned
West Ridge
-- Results reveal prospectivity from a deeper epithermal vein
TRAFALGAR HILL
Trafalgar Hill lies in the northwestern part of the Olympic Gold
Project area where gold has successfully been produced in the past
from shallow workings. Two potentially gold-bearing zones
identified by geophysics were targeted during the drill campaign
and a total of six holes were drilled to test both zones.
The holes were drilled using a reverse circulation ("RC")
percussion drill rig, with samples recovered every 5 feet (1.5
metres). The cuttings (from both Trafalgar Hill and West Ridge)
were individually bagged and sent to an independent analytical
laboratory in Reno, Nevada, for certified precious metal assay.
Two zones of mineralisation have been identified through
drilling.
Shallow Zone
The shallow zone mineralisation occurs at the lower faulted
contact between two separate volcanic units. The contact is defined
by an intense zone of hematisation and clay infill. The hangingwall
unit is mostly basalt - which likely to be part of the Esmerelda
formation, and which thickens eastwards. Importantly, the drilling
results highlight a continuation of the previously mined veins on
the eastern side of the hill, with holes OMRC005 and OMRC006
reporting grades of 1.04 g/t gold and 8.90 g/t gold respectively.
It is expected that the mineralised contact can be continually
followed eastwards under thickening cover and this will be tested
during the next phase of drilling, this season. Significant
intercepts from all six holes drilled into the shallow zone target
are set out in Table 1 below. Further drilling in the shallower
zone will entail several holes to the south and east of holes
OMRC005 and OMRC006 and drill permits will be formally applied for
following detailed drill programme planning which has already
commence based on these encouraging results received to date.
Table 1 Shallow Zone Gold Intercepts >= 0.10 g/t gold
Hole ID Collar Collar Collar Azimuth Dip From To Interval Gold
Easting Northing Elevation (metres) (metres) (metres) (Au)
(NAD83) (NAD83) (metres) (g/t)
OMRC001 421,110 4,273,758 1,773 270 -60 33.5 35.1 1.5 0.14
--------- ---------- ----------- -------- ---- ---------- ---------- ---------- -------
OMRC002 421,229 4,273,704 1,781 270 -60 No Significant Intercepts
--------- ---------- ----------- -------- ---- -------------------------------------------
OMRC003 421,107 4,273,642 1,781 270 -60 33.5 35.1 1.5 0.30
--------- ---------- ----------- -------- ---- ---------- ---------- ---------- -------
OMRC004 421,239 4,273,600 1,787 270 -60 No Significant Intercepts
--------- ---------- ----------- -------- ---- -------------------------------------------
OMRC005 421,114 4,273,530 1,790 270 -60 35.1 36.6 1.5 1.04
--------- ---------- ----------- -------- ---- ---------- ---------- ---------- -------
OMRC006 421,215 4,273,497 1,794 270 -60 85.3 93.0 7.6 1.91
--------- ---------- ----------- -------- ---- ---------- ---------- ---------- -------
Including 86.9 88.4 1.5 8.90
--------- ---------- ----------- -------- ---- ---------- ---------- ---------- -------
Deep Zone
The deeper target encompasses a sulphide rich alteration zone in
a thick volcanic package. Gold mineralisation throughout the zone
is broad, and mostly of a lower grade than encountered in the
shallow zone. Best intercepts in this zone are set out in Table 2
below. The deeper zone is also a candidate for further drilling. An
IP survey over the area will assist in better defining these deep
target areas and will likely be scheduled for early in the 2022
field season given the current availability of IP crews.
Table 2 Deep Zone Gold Intercepts >= 0.10 g/t gold
Hole Collar Collar Collar Azimuth Dip From To (metres) Interval Gold
ID Easting Northing Elevation (metres) (metres) (Au)
(NAD83) (NAD83) (metres) (g/t)
OMRC001 421,110 4,273,758 1,773 270 -60 No Significant Intercepts
--------- ---------- ----------- -------- ---- ---------------------------------------------
OMRC002 421,229 4,273,704 1,781 270 -60 137.2 140.2 3.0 0.10
--------- ---------- ----------- -------- ---- ---------- ------------ ---------- -------
OMRC003 421,107 4,273,642 1,781 270 -60 No Significant Intercepts
--------- ---------- ----------- -------- ---- ---------------------------------------------
OMRC004 421,239 4,273,600 1,787 270 -60 158.5 160.0 1.5 0.18
--------- ---------- ----------- -------- ---- ---------- ------------ ---------- -------
OMRC005 421,114 4,273,530 1,790 270 -60 47.2 48.8 1.5 0.11
--------- ---------- ----------- -------- ---- ---------- ------------ ---------- -------
126.5 129.5 3.0 0.14
--------- ---------- ----------- -------- ---- ---------- ------------ ---------- -------
OMRC006 421,215 4,273,497 1,794 270 -60 105.2 106.7 1.5 0.10
--------- ---------- ----------- -------- ---- ---------- ------------ ---------- -------
163.1 164.6 1.5 0.12
--------- ---------- ----------- -------- ---- ---------- ------------ ---------- -------
WEST RIDGE
The West Ridge prospect lies to the southeast of Trafalgar Hill
and has seen historical mining activity on a small scale. The
target was identified by Great Western through a magnetic survey
earlier in the year and a single hole has been drilled. This hole
did not yield reportable grades of gold, but a subsequent data
review based on information from drilling concludes that the
prospectivity comes from a deeper epithermal vein system, and a
further hole is provisionally planned for later this year.
A link to a map of the Olympic claims can be found by clicking
here
http://www.rns-pdf.londonstockexchange.com/rns/6739G_1-2021-7-27.pdf
TAILINGS
During the drilling operations, GWM personnel were able to find
and review very large volumes of tailings from the long abandoned
OMCO Mine which produced high grade gold for several decades up to
the 1940s. These tailings have not been leached in the past and
offer a strong case for secondary gold recovery which will be
studied carefully for possible future exploitation.
ONGOING PROGRAMME
At the Olympic Gold Project, final assay results are still
awaited for 4 of the 11 holes drilled, aimed at identifying,
firstly, unexploited veins adjacent to the abandoned OMCO Mine and,
secondly, a possible undiscovered extension to the principal OMCO
Mine vein, east of a north-south trending fault.
Following the Olympic Gold drilling programme, the rig moved to
the Rock House Group of claims and drilled 6 holes in the Southern
Alteration Zone prospect, results of which are still awaited. The
Rock House targets have never before been drilled or otherwise
exploited and mineralisation was identified from satellite imagery,
which has been followed with extensive sampling and trenching by
the Company.
Great Western Chairman Brian Hall commented: "This is an
exciting time for Great Western, which has a large land position in
Nevada, covering over 60 km(2) and comprising multiple gold, silver
and copper prospects. We are very pleased with the results of
initial drilling at Trafalgar Hill and look forward to the step-out
drill programme planned for later this year. During the first phase
of our 2021 programme, we have drilled 17 holes covering five
separate prospect areas and are waiting for the remaining assay
results, which will be reported as soon as they become
available."
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 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.
MARs Statement: This press release contains inside information
as defined in Article 7(1) of the Market Abuse Regulations
Note 1 - g/t = grams per metric tonne, equivalent to parts per
million
Note 2 - All intervals are quoted as downhole length - true
widths are not known at this time
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 Adviser
& Joint Broker)
John Frain +353 1 679 6363
Novum Securities (Joint Broker)
Jon Belliss +44 207 399 9400
ETX Capital (Joint Broker)
Thomas Smith +44 207 392 1494
Walbrook PR (PR advisers)
Nick Rome/Nicholas Johnson +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.
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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END
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