TIDMGWMO
RNS Number : 8475Y
Great Western Mining Corp. plc
09 September 2022
GREAT WESTERN MINING CORPORATION PLC
("Great Western" or the "Company")
MINERAL JACKPOT AND ROCK HOUSE DRILLING RESULTS
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and
copper targets in Nevada,is pleased to announce the assay results
from its summer 2022 drill campaign at the Mineral Jackpot and Rock
House prospects in the Walker-Lane trend.
HIGHLIGHTS
Mineral Jackpot:
-- Four holes were the first ever drilled in this historic group of mines
-- Hole 4 encountered a significant silver intercept with associated gold at very shallow depth
-- Hole 1 encountered reportable grades of gold at depth
-- Holes 2 and 3 encountered anomalous gold intercepts below the reporting threshold
Rock House Group:
-- Three holes drilled to follow up successful 2021 programme
-- Continuation of mineralised system established along-strike to west of 2021
-- Reportable gold intercepts near to surface
-- New copper zone identified
Note 1 - g/t = grams per metric tonne, equivalent to parts per
million
Note 2 - All intervals are quoted as downhole length - true
widths are not known at this time
MINERAL JACKPOT
Final assay results from drilling at the Mineral Jackpot group
of prospects have now been received.
The five, high-altitude, historic mines which make up the
Mineral Jackpot group had not previously been drilled and Great
Western is pleased to announce the results from an initial
four-hole programme over these extensive prospects, made possible
by the Company's construction of a 14 km access road earlier this
year.
Initial drilling was concentrated on the 'Main Workings', one of
several previously worked areas over the larger site. A summary of
the results is set out below and the results of laboratory analysis
are set out in Table 1:
-- Hole 4 intercepted a 7.62 metre zone from 4.57 metres in the
hole grading at 180.94 g/t silver and 0.315 g/t gold, contained
within which is a high-grade silver zone hosted in quartz vein of
3.04 m at 418.00 g/t silver and 0.554 g/t gold, starting at 6.10
meters drilled depth.
-- Hole 1 contained reportable intercepts of gold in parts of
the hole logged as 'Mineral Jackpot style' alteration at drilled
depths of 3.05 m and 35.05 m (see Table 1).
-- All four holes also exhibited multiple single-digit metre
intercepts with anomalous gold and silver grades, below the minimum
threshold used here, around sections logged as altered.
The quartz veins at Mineral Jackpot are thought to pinch and
swell along relatively continuous planar zones, the best grades
being associated with thicker quartz. All alteration logged and
assay results reported will guide 3D modelling of prospective zones
for future drill targeting of these thicker quartz vein
portions.
The intercept in Hole 4 provides a near-surface, high-grade
target for further exploration and potential low-cost development
due to its shallow position. The other Mineral Jackpot prospects
contain multiple strong, unexplored drill targets, including not
only historic workings but also geochemical anomalies parallel to
the strike of the veins not associated with previous mining
activities.
Table 1: Mineral Jackpot gold Intercepts greater than 0.10 g/t,
or silver intercepts greater than 100 g/t.
Hole Collar Collar Collar Azimuth Dip Hole From To Interval Gold Silver
ID Easting Northing Elevation length (metres) (metres) (metres) (Au; (Ag;
(NAD83) (NAD83) (metres) (metres) g/t) g/t)
---------
MJRC001 374,573 4,229,257 2111 030 152.4 3.05 4.57 1.52 0.112 1.1
---------- ------------ ----------- --------- ---------- -------- --------- ----------- ---------- ---------- ------- --------
* 55 35.05 36.58 1.52 0.325 BDL*
---------- ------------ ----------- --------- ---------- -------- --------- ----------- ---------- ---------- ------- --------
MJRC002 374,571 4,229,258 2111 043 -75 128.02 No significant intercepts
---------- ------------ ----------- --------- ---------- -------- --------- ------------------------------------------------------
MJRC003 374,538 4,229,286 2118 045 -60 121.92 No significant intercepts
---------- ------------ ----------- --------- ---------- -------- --------- ------------------------------------------------------
MJRC004 374,541 4,229,328 2132 045 -80 133.20 4.57 12.19 7.62 0.315 180.94
---------- ------------ ----------- --------- ---------- -------- ========= =========== ========== ========== ======= ========
including 6.10 9.14 3.04 0.554 418.00
---------- ------------ ----------- --------- ---------- -------- --------- ----------- ---------- ---------- ------- --------
*BDL = Below detection limit
ROCK HOUSE
SOUTHERN ALTERATION ZONE
Final assay results from drilling at the Southern Alteration
Zone (SAZ) prospect have now been received (see Table 2).
The SAZ is one of three prospects at Rock House identified by
Great Western through analysis of satellite imagery, none of which
had previously been explored until first drilling by the Company in
2021. Three follow-up holes have been drilled in summer 2022.
High-grade intercepts comparable with those from 2021 (1.52 m at
8.020 g/t gold from 97.54 m in Hole 6, and 1.52 m at 2.289 g/t Au
from 28.96 m in Hole 7) were not identified in this year's
drilling, but reportable, anomalous gold values were encountered in
Hole 9 (Table 2) which was drilled 100 m to the west of the Hole 7
fence, around the contact between the volcanic-sedimentary package
and an iron and manganese-rich gossan (a rust-coloured cap of iron
and manganese oxide minerals which can be an indicator of
underlying mineralisation) which crops out at surface. There is
clear evidence of a continuing gold mineralising system close to
the gossan contact.
Hole 10 was drilled under the surface gossan, identifying a zone
of low-grade copper enrichment (41.15 m at 0.13 % Cu, including
3.04 metres at 0.23% Cu and 6.10 metres at 0.24% Cu) associated
with iron and manganese bearing horizons (Table 3). This zone is
open at depth and along strike, being the first hole that has
intersected the material which crops out as gossan, and is a
completely new development at Rock House which will be evaluated
and followed up.
Table 2: SAZ gold intercepts greater than 0.10 g/t
Hole Collar Collar Collar Azimuth Dip Hole From To Interval Gold
ID Easting Northing Elevation length (metres) (metres) (metres) (Au;
(NAD83) (NAD83) (metres) (metres) g/t)
---------
RHRC008 378,940 4,222,023 1674 180 -65 259.08 No significant gold intercepts
-------- --------- ---------- --------- --- --------- ------------------------------------------------
RHRC009 378,855 4,221,974 1659 180 -60 124.97 22.86 24.38 1.52 0.106
-------- --------- ---------- --------- --- --------- ----------- ------------- ----------- -------
89.92 94.49 4.57 0.188
-------- --------- ---------- --------- --- --------- ----------- ------------- ----------- -------
RHRC010 378,849 4,221,918 1682 120 -60 103.63 No significant gold intercepts
-------- --------- ---------- --------- --- --------- ------------------------------------------------
Table 3: SAZ copper intercepts greater than 0.1%
Hole Collar Collar Collar Azimuth Dip Hole From To Interval Copper
ID Easting Northing Elevation length (metres) (metres) (metres) (Cu;
(NAD83) (NAD83) (metres) (metres) %)
---------
No significant copper
RHRC008 378,940 4,222,023 1674 180 -65 259.08 intercepts
------- --------- ----------- --------- --- -------- --------- ------------------------------------------------
No significant copper
RHRC009 378,855 4,221,974 1659 180 -60 124.97 intercepts
------- --------- ----------- --------- --- -------- --------- ------------------------------------------------
RHRC010 378,849 4,221,918 1682 120 -60 103.63 15.24 41.15 25.91 0.13
------- --------- ----------- --------- --- -------- ========= =========== ============= ========== ========
including 28.96 32.00 3.04 0.23
------- --------- ----------- --------- --- -------- ========= =========== ============= ========== ========
and 35.05 41.15 6.10 0.24
--------- ----------- ------------- ---------- --------
88.39 89.91 1.53 0.18
------- --------- ----------- --------- --- -------- --------- ----------- ------------- ---------- --------
Great Western Chairman Brian Hall commented: "Mineral Jackpot
and Rock House are two of the four target areas we have drilled
this year and we are now waiting on results from Trafalgar Hill and
the OMCO Mine area, both at the Olympic Gold Project, which we
expect in the near future.
"Mineral Jackpot is a highly prospective area which has been
virtually impossible to drill until now and we have been
particularly encouraged by Hole 4 which has yielded high grades of
silver at a manageable depth and which could quite easily be
exploited, once proved up by further straightforward shallow
drilling with a basic rig. Ore could be processed through the
milling joint venture which we are currently working on to produce
precious metals from mining waste and would be a logical
development opportunity for the future.
"Rock House represents original exploration work by the Great
Western team, with only one of three prospects so far drilled, the
Southern Alteration Zone, and great potential which requires
further work based on what we are learning from this year's
drilling. Indications of copper at Rock House are an exciting new
development which we will follow up through field work and sampling
over the next few months.
"We will announce the OMCO and Trafalgar Hill results as soon as
they are available."
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 Listing
Sponsor & Joint Broker
Brian Garrahy +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 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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END
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