TIDMGWMO
RNS Number : 4758C
Great Western Mining Corp. plc
23 February 2022
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
MINERAL JACKPOT
GRAB SAMPLING RESULTS FROM SPOIL HEAPS
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW) which is exploring and developing gold, silver and
copper targets in Nevada announces the results of recent spoil heap
material sampling at the Mineral Jackpot claim group.
HIGHLIGHTS
-- Assay results from sampling of 51 spoil heaps
-- Average grades of vein material 1.57 g/t Au (range 0.003 -
21.17 g/t Au) and 327 g/t Ag (range 0.8 - 4988 g/t Ag).
-- Average grades of altered wall rock 0.04 g/t Au (range 0.009
- 1.094 g/t Au) and 14.8 g/t Ag (range 0.4-103.00 g/t Ag).
-- Spoil heaps composed of average 5% vein material and 50% altered wall rock
ASSAY RESULTS AND SPOIL HEAPS COMPOSITION
GWM's Mineral Jackpot claim group has seen considerable mining
activity in the past, with several high-grade veins worked both at
surface and underground for gold and silver. There is a substantial
quantity of waste material remaining at surface around these
workings in the form of spoil heaps and initial assay results have
now been received from these heaps.
In total 51 mineralised spoil heaps have now been located at
Mineral Jackpot, typically composed of three main types of
material, being vein, altered granite host-rock and unaltered
granite. Two composite samples were collected from each pile, one
of vein rock and one of altered host. The proportional content of
each pile or sampling location was then visually assessed. Sampling
of the vein and altered granitic host-rock material was carried out
in an unbiased manner and was random, not selective. These results
are intended to provide an initial guide only to the general nature
of the material and not an estimate of the contained
mineralisation.
The assay results received are set out in Table 1, along with
the portions of vein, altered granite and unaltered granite in each
heap.
Vein material was identified in all but two of the heaps, with
median grades of 1.57 g/t Au (with a range of 0.003 - 21.17 g/t Au)
and 327 g/t Ag (with a range of 0.8 - 4988 g/t Ag). Altered granite
occurs in all but two of the heaps, with median grades of 0.04 g/t
Au (with a range of 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (with a
range of 0.4-103.00 g/t Ag).
The results have led to a prioritisation of selected heaps for
follow-up. The next step will be to perform representative sampling
of those heaps considered most favourable by size and content and
to calculate accurate volumes for the heaps, using a detailed
orthophotography survey which will be carried out in the near
future.
These measurements are expected to provide sufficient
information for completion of a resource estimate.
Table 1 . Composition proportion and assay results of Mineral
Jackpot spoil heaps. Heap size will be assessed by a detailed
orthophotography survey of the ground in the near future. Note:
unaltered granite material was not sampled.
Spoil Spoil Heap Composition Vein Assay Altered Granite
Heap ID Visual Assessment Assay
(%)
--------- -------------------- --------------------
Vein Alt. Unalt. Au (ppm) Ag (ppm) Au (ppm) Ag (ppm)
granite granite
--------- ----- --------- --------- --------- --------- --------- ---------
1-a 1 29 70 0.079 24.2 0.041 13.5
----- --------- --------- --------- --------- --------- ---------
1-b 3 60 37 0.093 29.8 0.018 15.5
----- --------- --------- --------- --------- --------- ---------
1-c 1 69 30 0.023 8.7 0.030 12.4
----- --------- --------- --------- --------- --------- ---------
1-d 5 80 15 6.510 2423.0 0.091 33.9
----- --------- --------- --------- --------- --------- ---------
2-a 30 50 20 0.624 372.0 0.059 88.8
----- --------- --------- --------- --------- --------- ---------
2-b 3 97 0 0.633 589.0 0.025 13.7
----- --------- --------- --------- --------- --------- ---------
2-c 5 95 0 1.259 127.0 0.036 5.0
----- --------- --------- --------- --------- --------- ---------
5 3 77 20 1.574 49.8 0.106 14.9
----- --------- --------- --------- --------- --------- ---------
6 20 60 20 1.273 666.0 0.037 21.3
----- --------- --------- --------- --------- --------- ---------
3 20 50 30 1.046 500.0 0.050 90.8
----- --------- --------- --------- --------- --------- ---------
4-a 20 80 0 1.285 368.0 0.029 14.8
----- --------- --------- --------- --------- --------- ---------
4-b 10 90 0 0.319 201.0 0.022 25.7
----- --------- --------- --------- --------- --------- ---------
7 30 50 20 0.628 433.0 0.023 32.8
----- --------- --------- --------- --------- --------- ---------
8 95 5 0 1.244 613.0 0.156 103.0
----- --------- --------- --------- --------- --------- ---------
9 25 35 40 4.155 1358.0 0.099 67.2
----- --------- --------- --------- --------- --------- ---------
10 40 60 0 3.326 935.0 0.036 28.9
----- --------- --------- --------- --------- --------- ---------
12 30 45 25 5.080 1507.0 0.075 32.2
----- --------- --------- --------- --------- --------- ---------
14 2 58 40 4.762 4988.0 0.028 31.5
----- --------- --------- --------- --------- --------- ---------
16 1 90 9 2.945 1214.0 0.038 12.9
----- --------- --------- --------- --------- --------- ---------
20 0 1 99 n/a n/a 0.009 0.4
----- --------- --------- --------- --------- --------- ---------
22 0 20 80 n/a n/a 0.011 1.8
----- --------- --------- --------- --------- --------- ---------
26 5 65 30 0.272 101.0 0.123 33.7
----- --------- --------- --------- --------- --------- ---------
11 3 70 27 0.041 11.6 0.019 7.2
----- --------- --------- --------- --------- --------- ---------
15-a 20 45 35 1.324 580.0 0.024 16.3
----- --------- --------- --------- --------- --------- ---------
15-b 20 45 35 4.272 1673.0 0.041 42.4
----- --------- --------- --------- --------- --------- ---------
17 1 30 69 0.070 26.5 0.041 7.7
----- --------- --------- --------- --------- --------- ---------
18-a 2 70 28 0.819 62.4 0.026 13.1
----- --------- --------- --------- --------- --------- ---------
18-b 3 97 0 10.580 2130.0 0.068 34.4
----- --------- --------- --------- --------- --------- ---------
19 15 65 20 4.694 543.0 0.041 24.2
----- --------- --------- --------- --------- --------- ---------
21 30 50 20 6.550 1421.0 1.094 103.0
----- --------- --------- --------- --------- --------- ---------
23-a 2 88 10 7.850 747.0 0.047 44.4
----- --------- --------- --------- --------- --------- ---------
23-b 1 30 69 1.916 659.0 0.022 10.1
----- --------- --------- --------- --------- --------- ---------
23-c 30 20 50 4.372 736.0 0.028 13.0
----- --------- --------- --------- --------- --------- ---------
23-d 20 50 30 2.740 1062.0 0.071 20.3
----- --------- --------- --------- --------- --------- ---------
23-e 1 59 40 0.059 18.3 0.020 1.1
----- --------- --------- --------- --------- --------- ---------
28 20 50 30 2.317 83.0 0.032 1.9
----- --------- --------- --------- --------- --------- ---------
27 4 86 10 0.707 7.2 0.024 1.0
----- --------- --------- --------- --------- --------- ---------
33 4 20 76 9.220 976.0 0.023 6.8
----- --------- --------- --------- --------- --------- ---------
34-a 10 40 50 0.559 38.9 0.062 26.1
----- --------- --------- --------- --------- --------- ---------
34-b 96 2 2 3.438 240.0 0.183 35.4
----- --------- --------- --------- --------- --------- ---------
34-c 100 0 0 7.620 105.0 n/a n/a
----- --------- --------- --------- --------- --------- ---------
32 20 30 50 5.050 327.0 0.083 9.6
----- --------- --------- --------- --------- --------- ---------
30 5 65 30 18.390 1019.0 0.249 15.5
----- --------- --------- --------- --------- --------- ---------
29 1 80 19 0.158 8.5 0.049 7.4
----- --------- --------- --------- --------- --------- ---------
36-a 1 29 70 0.054 3.6 0.077 2.5
----- --------- --------- --------- --------- --------- ---------
36-b 1 29 70 0.665 27.3 0.207 3.0
----- --------- --------- --------- --------- --------- ---------
35 2 28 70 10.500 224.0 0.077 10.6
----- --------- --------- --------- --------- --------- ---------
38-a 10 1 89 2.290 46.5 0.010 0.9
----- --------- --------- --------- --------- --------- ---------
38-b 15 10 75 21.170 198.0 0.068 4.2
----- --------- --------- --------- --------- --------- ---------
38-c 20 30 50 19.770 251.0 0.063 6.2
----- --------- --------- --------- --------- --------- ---------
39 100 0 0 0.003 0.8 n/a n/a
----- --------- --------- --------- --------- --------- ---------
Max 100 97 99 21.170 4988.0 1.094 103.0
----- --------- --------- --------- --------- --------- ---------
Median 5 50 30 1.574 327.0 0.041 14.8
----- --------- --------- --------- --------- --------- ---------
Min 0 0 0 0.000 0.8 0.010 0.4
----- --------- --------- --------- --------- --------- ---------
Great Western Chairman Brian Hall commented: "These Mineral
Jackpot results are highly encouraging, indicating a broad
distribution of mineralised material throughout the spoil heaps,
with locally some very high grades of both gold and silver. We are
now in a position to prioritise the largest and richest spoil heaps
for use in the next phase of commercialising this significant
asset."
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.
MARs Statement: This press release contains inside information
as defined in Article 7(1) of the Market Abuse Regulations.
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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