TIDMGWMO

RNS Number : 2205A

Great Western Mining Corp. plc

22 September 2022

GREAT WESTERN MINING CORPORATION PLC

("Great Western" or the "Company")

OMCO DRILLING RESULTS

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) is pleased to announce final assay results from its recent drilling programme in the OMCO Mine area of the Olympic Gold Project in Mineral County, Nevada.

HIGHLIGHTS

   --    OMCO Mine vein intercepted 
   --    Extension to OMCO Mine now established 

-- Gold recorded over 6.1 metre interval including a best intercept of 8.1 grams/tonne over 1.5 metres

   --    Vein extension is open to southeast, adjacent to old workings, and will be further explored 
   --    Assay results from a coarse stockpile at OMCO will support an independent resource estimation 

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

Great Western chairman Brian Hall commented: "During the summer work seasons of 2021 and 2022, we have drilled a number of holes in the vicinity of the abandoned OMCO Mine that yielded high grades of gold for several decades until the 1940s. At Hole 15, drilled this summer, assay results tell us that we have now intercepted an extension of the OMCO vein itself, one of our key objectives, encountering vein material beyond the known limits of the old workings. Significantly, the trend is open to the southeast in unexplored acreage adjacent to the old workings. This is a very exciting result which will enable us to home in on the potential of the asset. In parallel we have drilled and are evaluating tailings and previously mined material for our processing joint venture and have commissioned an independent UK firm of consultants to report on these. "

OMCO RESULTS

Ten holes were drilled in the OMCO Mine area during summer 2022 with results tabulated below (Table 1). At Hole 15, an intersection of the OMCO vein was recorded as follows:

   --    2.682 g/t Au average over an interval of 6.10 m, beginning at 38.10 m, including: 

o 8.110 g/t Au over 1.52 m, from 39.62 m, and

o 1.747 g/t Au over 1.52 m, from 41.15 m.

This grading zone is associated with logged quartz vein surrounded by clay alteration and is at a depth consistent with both the old workings and mapped, unmined portions of the vein. Other holes targeting the unmined OMCO vein positioned to the southwest intersected the target structure but did not identify appreciable grade, most likely due to being too far from the centre of mineralisation.

Mapped, un-mined OMCO vein remains undrilled to the southeast, adjacent to the historic workings and potentially closer to the source of mineralising fluids, to be further explored by GWM.

Other holes from the 2022 programme intersected low-grade gold zones, as set out in table 1, and will support modelling of the broader mineralising systems to locate the potential of increasing grade on these horizons.

STOCKPILE SAMPLING

A previously-mined stockpile of material at the Olympic Gold Project has been selected for processing through the Company's planned joint venture milling operation, in addition to tailings at OMCO and spoil heaps at Mineral Jackpot, already identified. An independent UK-based consultancy has been contracted to prepare a report on these volumes of coarse material together with the substantial tailings at the OMCO Mine.

The results announced here include four short, vertical holes which have been drilled into the mineralised coarse stockpile at the mine site this summer, being material produced when the OMCO Mine was still active, but never processed. One bulk sample was taken from each of these holes to provide one sample per hole. Results from these four samples fell in the range 0.219 - 1.113 g/t gold and are set out in table 2 below and are being used in support of the current independent resource estimation process.

Table 1: OMCO in situ gold Intercepts greater than 0.10 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) 
                                                                                --------- 
OMRC015      422,211     4,273,557     1,830        000                121.92                 38.10       44.20       6.10      2.682     9.2 
--------  ----------  ------------  -----------  ---------  --------  --------  =========  ===========  ========  ==========  =======  ======== 
                                                                                including     39.62       41.15       1.52      8.110     14.8 
--------  ----------  ------------  -----------  ---------            --------  =========  ===========  ========  ==========  =======  ======== 
                                                             *    90                and        41.15      42.67       1.52      1.747     14.9 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
OMRC016      422,275     4,273,566     1,832        000       -90      124.97                  22.86      24.38       1.52      0.138     1.3 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
                                                                                               24.38      27.43       3.04        Mined void 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  ----------------- 
                                                                                               27.43      28.96       1.52      0.141     1.2 
                                                                                ---------  -----------  --------  ----------  -------  -------- 
                                                                                               64.01      65.53       1.52      0.126     1.2 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
OMRC017      422,216     4,273,517      1,834       000       -90      60.96                             No significant intercepts 
          ----------  ------------  -----------  ---------  --------  --------  ---------  ---------------------------------------------------- 
OMRC018      422,081     4,273,731      1,826       000       -90      137.11                  35.05      36.58       1.52      0.106     BDL 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
                                                                                               71.63      82.30      10.67      0.142     0.13 
--------  ----------  ------------  -----------  ---------  --------  --------  =========  ===========  ========  ==========  =======  ======== 
                                                                                including      79.25      80.77       1.52      0.246     0.3 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
OMRC019      422,464     4,273,590      1,829       000       -90      259.08                  74.68       76.2       1.52      0.107     BDL 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
OMRC020      423,065     4,273,420      1,834       000       -90      274.02                            No significant intercepts 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  ---------------------------------------------------- 
OMRC021      422,197     4,273,525     1,834        000       -90      70.10                             No significant intercepts 
          ----------  ------------  -----------  ---------  --------  --------  ---------  ---------------------------------------------------- 
OMRC026      421,988     4,273,651     1,838        030       -60      149.35                  0.00       12.19      12.19      0.110     BDL 
          ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
                                                                                               88.39      89.92       1.52      0.138     BDL 
          ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
                                                                                              103.63      105.16      1.52      0.128     BDL 
          ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
OMRC027      422,194     4,273,489     1,840        000       -90      60.96                             No significant intercepts 
          ----------  ------------  -----------  ---------  --------  --------  ---------  ---------------------------------------------------- 
OMRC028      422,226     4,273,479     1,838        000       -90      60.96                   56.39      57.91       1.52      0.113     BDL 
--------  ----------  ------------  -----------  ---------  --------  --------  ---------  -----------  --------  ----------  -------  -------- 
 

*BDL = Below detection limit

Table 2: OMCO coarse stockpile gold Intercepts greater than 0.10 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) 
                                                                                ---- 
 
OMRC022      422,253     4,273,686      1,822       000      *    90    5.18    Bulk       0         5.18       5.18     0.219     0.5 
          ----------  ------------  -----------  ---------  --------  --------  ----  -----------  --------  ----------  ------  -------- 
 
OMRC023      422,251     4,273,697      1,821       000      *    90    7.32    Bulk       0         7.32       7.32     0.571     1.5 
          ----------  ------------  -----------  ---------  --------  --------  ----  -----------  --------  ----------  ------  -------- 
 
OMRC024      422,257     4,273,694      1,821       000      *    90    5.18    Bulk       0         5.18       5.18     0.898      2 
          ----------  ------------  -----------  ---------  --------  --------  ----  -----------  --------  ----------  ------  -------- 
 
OMRC025      422,256     4,273,694      1,821       000      *    90    4.57    Bulk       0         4.57       4.57     1.113     2.4 
--------  ----------  ------------  -----------  ---------  --------  --------  ----  -----------  --------  ----------  ------  -------- 
 

*BDL = Below detection lim it

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/Joe Walker                     +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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