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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