RNS Number : 5311O
Great Western Mining Corp. plc
13 June 2022
GREAT WESTERN MINING CORPORATION PLC
Trafalgar Hill Drilling Update
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW, "the Company"), which is exploring and developing
gold, silver and copper targets in the Walker-Lane trend of Nevada,
provides the following further update on its current drilling
-- Three holes have now been drilled at Trafalgar Hill with a combined length of 430 metres
-- The lithology and alteration were successfully predicted and
the target horizon encountered in all three holes
-- Rig now at the Olympic Mine site where eight holes are planned
Following completion of the three-hole Rock House programme,
announced on 8 June, the Company's contracted reverse circulation
(RC) drill rig was moved to the Trafalgar Hill prospect at the
Olympic Gold Project, where it has now drilled three holes with an
aggregate length of 430 metres. These were designed to follow-up
the positive results achieved in the 2021 drill programme at the
shallower zone in the southern part of the Trafalgar Hill claims.
As previously announced, the best intercepts achieved during the
2021 drill programme in this location were (1) 7.6 m at 1.91 g/t
gold (including 1.5 m at 8.90 g/t) from 85.3 m in hole OMRC006; and
(2) 1.5 m at 1.04 g/t gold from 35.1 m in hole OMRC005.
The Company developed a geological model based on last year's
drilling results and was able to predict the lithology and
alteration features intersected in the three holes just completed
with great accuracy.
The mineralised zone encountered in all three holes occurs at
the contact between a haematite-altered basalt and a
pyrite-impregnated rhyolite, corresponding very closely to the
precise location predicted by the Company's own stratigraphic and
structural model and demonstrating likely continuity from the
successful holes drilled on the claims in 2021.
In the third hole, OMRC014, this horizon was thicker than
previously encountered and more pyrite impregnation was observed in
the underlying rhyolite. Drill cuttings for all three holes are
being sent to a laboratory for assay, which will determine whether
this horizon contains gold compatible with that reported for
OMRC006 and OMRC005 last year.
Great Western Chairman Brian Hall commented: "At both Rock House
and Trafalgar Hill, the desk work we have done since our 2021 drill
campaign seems to be paying off as, subject to lab analysis, our
step-out drilling appears to be supporting our prognoses. This is a
busy and exciting time for the Company. The rig is still at the
Olympic Gold Project and currently drilling in the vicinity of the
former, prolific OMCO Mine. We will provide an update on the OMCO
programme as soon as complete."
Qualified 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, and in parts 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) shorter term gold and silver deposits and (2) longer
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, partly Inferred and partly
Indicated, 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 13, 2022 02:00 ET (06:00 GMT)
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