RNS Number : 0712O

Great Western Mining Corp. plc

08 June 2022


Drilling Update

Great Western Mining Corporation PLC ("Great Western", AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver and copper targets in the Walker-Lane trend of Nevada, is pleased to report progress on its current drilling campaign.


-- Three holes completed at Rock House ('RH') totalling 488 m with positive indicators of alteration

-- Rig now at the Olympic Gold Project for drilling at Trafalgar Hill and at the OMCO Mine site, to follow up on the positive 2021 drill campaign

-- First drilling at the Mineral Jackpot properties will follow, made possible with a conventional RC rig by the recently completed 14 km road construction and upgrade

Rock House

Following an encouraging maiden drill programme in 2021, three further holes have now been drilled in the Southern Alteration Zone at RH with a combined length of 488 m, using a reverse circulation ('RC') rig currently under contract. RHRC008, the first and longest hole, was drilled directly below the section which identified the best intercepts in the 2021 programme, being (1) 1.5 m at 8.02 g/t gold from 97.5 m in RHRC006 and (2) 1.5 m at 2.29 g/t gold from 29.0 m in RHRC007. Hole RHRC008 contains sections of pyrite impregnation over tens of metres in both rhyolites and black carbonaceous sediments, along with quartz and carbonate veins and veinlets. These features are at positions that appear to correlate, via the prevailing geological structure, to the high-grade intercepts of 2021. The presence of pyrite impregnation and veining do not guarantee mineralisation but are very encouraging.

Holes RHRC009 and RHRC010 were drilled on a new section to the west and indicated zones of iron oxide and local trace pyrite disseminations. Mineralisation at RH can be visually subtle and the possibility of intersecting grade in these holes cannot be assessed until the cuttings have been assayed in a laboratory.

Great Western Chairman Brian Hall commented: "Our 2022 drilling campaign has started well and is making excellent progress. For assay results, we are in the hands of overworked laboratories in Nevada and timing cannot be firmed up at this stage. RHRC008 appears to consolidate and build on our successful drilling in this area last year. We are very pleased to be in a position for the first time to drill Mineral Jackpot, made up of five historic gold and silver mines which have never before been explored using modern techniques. We will keep shareholders updated."

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 
 Brian Hall, Chairman                      +44 207 933 8780 
 Max Williams, Finance Director            +44 207 933 8780 
 Davy (NOMAD, Euronext Growth Adviser 
  & Joint Broker) 
  Brian Garrahy                             +353 1 679 6363 
 Novum Securities (Joint Broker) 
  Jon Belliss                              +44 207 399 9400 
 Walbrook PR (PR advisers) 
  Nick Rome                                +44 207 933 8783 

Notes to Editors

The Company has a large acreage position 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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June 08, 2022 02:01 ET (06:01 GMT)

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