Great Western Mining Corp. plc Drilling Update (0712O)
08 June 2022 - 4:01PM
UK Regulatory
TIDMGWMO
RNS Number : 0712O
Great Western Mining Corp. plc
08 June 2022
GREAT WESTERN MINING CORPORATION PLC
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.
Summary
-- 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
PLC
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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