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RNS Number : 6433Q
Great Western Mining Corp. plc
29 October 2021
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
OPERATIONS UPDATE
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and
copper targets in Mineral County, Nevada, is pleased to provide the
following operational update on its activities:
DEVELOPMENT PLANNING
PROCESSING OF PRECIOUS METALS
During 2021 extensive work has been undertaken on proposed
processing projects, both in the field and through desktop studies,
based on data and material from both Mineral Jackpot and the OMCO
Mine. The work undertaken concludes that the potential recoveries
from Mineral Jackpot alone are materially greater than previously
thought. A potential combination of processing material from both
sites is likely to increase the scale and profitability of the
final project.
OLYMPIC GOLD PROJECT
A permit has now been granted for auger-drilling up to 12
shallow holes in the large OMCO Mine tailings heap at the Olympic
Gold project and drilling will begin in the next few days, using
the small multi-use coring rig which the Company has under
contract. This will enable the Company to calculate processable
material in place and samples from drilling will be analysed at an
independent laboratory to assess recoverable grades of precious
metals. The Company expects assay results by the year-end, which
will be announced. The data gained from the results of the cores
taken at the OMCO Mine tailings will be a critical factor in
determining a project plan.
MINERAL JACKPOT GROUP
As previously advised to shareholders, planning of both bulk
processing of spoil heaps and new exploration drilling at Mineral
Jackpot has been restricted by the limitations of the mountain road
which provides access to site. Following a site visit by
contractors in October, the most severe problems have been resolved
and the Company is aiming to upgrade the road prior to the 2022
work season, as good access is key to carrying out major work at
this highly prospective group of claims. The road upgrade is
already fully permitted. Alternative methods for bringing spoil
heap material off the mountain once the road has been upgraded are
being costed and appraised.
EXPLORATION PROJECTS
EAST MINE ("EM GROUP")
An Induced Polarisation ("IP") and Resistivity geophysical
survey is scheduled to commence during the week beginning 1
November at the EM Group, to test the potential for copper porphyry
style mineralisation at depth, indicated by both historical
drilling and surface sampling undertaken in 2019. The survey will
cover a surface area of 3km(2) reaching depths of 450m. The survey
will take about 10 days, subject to weather conditions, and
processing and interpretation of results are likely to be available
in December.
MAGNETOMETER SURVEYS
Over the past eighteen months, Great Western has conducted
extensive ground surveys using a man-portable magnetometer unit,
the results of which have not only improved the Company's
understanding of the potential of the areas surveyed but also
facilitated successful drilling operations during the 2021 work
season. However, some mountainous terrain, including part of
Mineral Jackpot, is not suitable for survey with this type of unit
and the Company will shortly use a survey team utilising an
unmanned aerial vehicle (or "drone") to conduct magnetic surveys
(1) to complete the Mineral Jackpot Group survey and (2) to survey
the JS Group, the TUN Group and the Huntoon Valley area (HUN
Group), saving a great deal of time and accelerating exploration of
as-yet undrilled prospects. A reconnaissance survey is currently
being undertaken at Huntoon and the Company aims to accelerate
exploration activity over both the HUN and TUN Groups, especially
in the Huntoon valley where there are historical mine workings.
EXPLORATION DRILLING
Although a severe shortage of contractor availability and labour
in the area delayed this year's plan for an autumn follow-up
campaign to its successful spring and summer drill programme at
Olympic Gold and the Rock House Group, the Company has received an
assurance from its selected drilling contractors that they will
undertake the programme early in the 2022 work season. This
programme currently encompasses drilling up to 14,000 feet (4,267
metres) over the two projects. Additional holes may be added to the
programme.
Great Western Executive Chairman Brian Hall commented: "With
funds in hand for our projects, Great Western is in a strong
position going forward, moving ahead over our extensive exploration
claims while the scale of the potential production operation under
evaluation is constantly expanding. We are using the latter part of
the current work season to bring forward operations on claims which
we have not had the time to work on recently, in particular the
Huntoon Valley and the East Mine Group. I invite shareholders to
visit the Company's website at www.greatwesternmining.com which has
been redesigned during October, aimed at providing better and more
user-friendly information."
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
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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