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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