TIDMGWMO
RNS Number : 8224F
Great Western Mining Corp. plc
24 March 2022
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
GEOPHYSICAL SURVEYS SUCCESSFULLY COMPLETED
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver, and
copper targets in Nevada, provides the following summary of
geophysical survey work carried out over selected claim groups.
HIGHLIGHTS
Induced Polarisation Survey
-- Eastside Mine: IP results have identified two main graben
structures associated with surface veining, alteration and copper
shows
Drone Magnetometry
-- Mineral Jackpot: Corridors of low magnetic response shown to
parallel the main vein orientation and extend beyond the known
limits of historic mining
-- Mineral Jackpot, Jack Springs, Huntoon and Tun: Drone
magnetometry enhances understanding of broad structural framework
facilitating 2022 fieldwork
Drone Orthophotography
-- Mineral Jackpot and Olympic Gold: High-resolution digital
terrain models created for accurately assessing forthcoming
resource estimates of surface waste material for reprocessing
GEOPHYSICAL SURVEYS
During the winter, multiple geophysical surveys have been
conducted over Great Western's portfolio of claims. These surveys
consisted of three induced polarisation (IP) profiles of 2,400m
each at the Eastside Mine, together with drone magnetometry at the
Mineral Jackpot, Jack Springs, Huntoon and Tun claim groups, making
a total of 591 line km surveyed. In addition, 25.7km(2) of
orthophotography surveys were conducted over Mineral Jackpot and
the OMCO Mine site. These surveys have (1) enhanced the Company's
understanding of the structures that controlled mineralisation (2)
helped to generate new drill targets where anomalies coincide with
surface showings and (3) provided high-resolution topographic
models covering Great Western's stocks of mineralised mine
waste.
Eastside Mine Induced Polarisation Survey
At the Eastside Mine, which is a copper target for the Company,
the IP survey profiles were orientated in an east-west direction
and designed to test down to 300m depth. Two of the three profiles
successfully identified structures of interest, leading to the
identification of two graben structures bounding a central horst
block. The faults that control these structures have both high
chargeability and high resistivity features, interpreted as
representing potential mineralised zones (chargeable) adjacent to
silicified wall rocks (resistive). The structures spatially
correspond to several surface features indicative of
mineralisation, including copper showings, silicified stockwork
zones and copper soil geochemistry halos. The results achieved
highlight the prospectivity of several areas at the Eastside Mine,
providing potential targets for future drilling.
Mineral Jackpot, Jack Springs, Huntoon and Tun Drone
Magnetometry
Broad magnetometry coverage has been obtained over the Company's
gold and copper targets at Jack Springs and Huntoon, the gold and
silver targets at the Tun group and over the Mineral Jackpot
project (Black Mountain claims group). Initial interpretation of
the magnetometry data reveals the near surface structural
environment and has enhanced the Company's understanding of this
structural environment. Further interpretation and modelling are
ongoing.
Mineral Jackpot and Olympic drone orthophotography
Orthophotography surveys have now been completed over the spoil
heaps at Mineral Jackpot and the tailings pads at the OMCO Mine
(Olympic Gold Project). The resulting digital terrain models,
together with further planned sampling at both sites, will support
volumetric assessments for use in forthcoming resource estimates of
the spoil heaps and tailings.
Great Western Chairman Brian Hall commented: "During the Nevada
mountain winter when drilling and other field work is not
practical, we have been able to make solid progress in gaining a
better understanding of some of our key projects and the regional
setting, using geophysical contractors who have delivered on time
and under budget. We will make effective use of the results
achieved in advancing our plans for exploration and appraisal
drilling as well as for exploitation of our inventories of
pre-mined material. As ever we will do our best to keep
shareholders informed in a timely manner."
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.
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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