GREAT WESTERN MINING CORPORATION
PLC
("Great Western", "GWM" or the
"Company")
POSITIVE SOIL AND GRAB RESULTS AT WEST
HUNTOON
Potential to add significant further
value to copper resource with results revealing
strong gold and
copper grades and bonanza silver grades
Great Western Mining Corporation PLC (AIM -
GWMO, Euronext Growth - 8GW), which is exploring
and developing gold, silver and copper targets in the highly
prospective Walker Lane trend of Nevada, is pleased to announce
grab and soil results from the West Huntoon area of the Company's
Huntoon Copper Project, with two bonanza-grade silver results,
multiple other high-grade precious metal occurrences and abundant
copper anomalism. The results provide further evidence of the
existence of both a mineral-rich porphyry system and a series of
discrete high-grade epithermal veins which have the potential for
significant precious metals mineralisation.
HIGHLIGHTS
·
Potential large-scale copper
porphyry system.
·
Discrete high-grade
epithermal veins.
·
2km2
copper-in-soil anomaly surrounding the granite
system, open in several directions.
·
Grab samples in the area show elevated copper and gold and
bonanza silver grades in
newly mapped granites, including:
o Copper grab
samples
|
5.82%, 4.85%, 3.82% and 1.56% Cu,
|
o Gold grab
samples
|
7.29
g/t, 5.53
g/t and 4.51 g/t
Au,
|
o Silver grab
samples
|
2,438
g/t, 843
g/t, 108 g/t and
102 g/t Ag.
|
·
Elevated molybdenum levels also returned.
·
Targets for early drilling now being worked up under the
umbrella of the recently signed Huntoon Cooperation
Agreement.
Great Western
Chairman Brian Hall commented: "We are highly encouraged
by the identification of bonanza-grade silver values in grab
samples at West Huntoon, along with multiple gram gold
results. The existence of discrete epithermal veins in this
area is very encouraging and demonstrates that precious metals may
well add significantly to the upside of the Huntoon Copper Project,
while the recently signed Huntoon Mine Area Cooperation will
facilitate our continuing exploration efforts.
"These further
positive results highlight the strength of our portfolio,
underpinning management's confidence in the future of this project
and creating a positive environment for attracting industry
partners to help move the copper story to the next
stage."
BUILDING ON AN ESTABLISHED
RESOURCE
In November 2023 Great Western announced the
discovery of a significant area of previously unmapped granite at
West Huntoon. This was confirmed in a report from Dr Lawrence
Carter, an independent expert on the nearby Yerington district and
porphyry systems in general, to be prospective for porphyry
mineralisation. Dr. Carter's report is available on the Company's
website. West Huntoon forms part of Great Western's Huntoon
Copper Project which already includes the established resource of 4.2 million tonnes
grading at 0.45% Cu at M2.
Grab and soil sampling in the area was
completed by the end of the year and results are tabulated below.
Grab sample results show strong gold and copper grades and
exceptionally high silver grades at several locations near to or
within newly mapped granite outcrop areas. Soil samples show a
2km2 area of anomalous copper values in soils
surrounding the granite cupola zone, limited only by the edges of
thin volcanic cover to the north and northeast, and basin sediments
to the southeast.
GRAB SAMPLE
RESULTS
Ten new grab samples were collected in the West
Huntoon claims (Figure 1 & Table 1). This sampling was
selective and aimed at testing areas of potential mineralisation
observed in the field. Several results show strong grades of
copper, gold and silver. Two samples contain strongly elevated
molybdenum which is further evidence of a porphyry
system.
The most gold-rich sample contained 7.292 g/t
Au and 843 g/t Ag, taken from host rock near a small granite boss
in the southeast of the area and mapped in late 2023.
A sample from the main West Huntoon granite
graded at 2,438 g/t Ag, 5.531 g/t Au and 1.56% Cu, selected for
sampling due to visible copper oxides. A nearby
copper-oxide-bearing granite sample returned 102 g/t Ag and 4.514
g/t Au and 0.09% Cu.
The most copper rich sample (5.82% Cu) came
from an area of abundant copper oxide showings 500 m southwest
of the granite. Another two copper rich samples (4.85% and 3.82%
Cu) were obtained from an old working situated in host rocks 200 m
southwest of the granite. These samples also contained significant
silver (55 g/t and 108 g/t respectively).
Figure
1. Map of grabs at West Huntoon. New grabs from
2023 and all previous grabs shown.
These grab sample results highlight the
potential for high-grade precious metals at West Huntoon occurring
in addition to the large-scale copper porphyry target identified
during the 2023 field season. Although vein mining has been carried
out on the claims in the past, the majority of the samples were not
taken from existing workings. The West Huntoon granite and contact
zones will be thoroughly grab sampled over a non-selective grid in
2024 to test for significant copper-gold-silver zones outcropping
at surface.
Table 1. 2023 grab samples, refer to figure
1 for locations. See additional information, below, for note on
units. BDL indicates below detection limit.
Sample
ID
|
Description
|
Cu
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
Mo
(g/t)
|
GWM005519
|
Quartz breccia with
copper oxides and sulphides
|
3.82
|
0.274
|
108
|
3
|
GWM005520
|
Quartz breccia with
copper oxides
|
4.85
|
0.164
|
55
|
4
|
GWM005521
|
Quartz breccia with
copper oxides
|
0.15
|
0.015
|
14.2
|
bdl
|
GWM005522
|
Quartz with copper
oxides and sulphides
|
5.82
|
0.494
|
78.7
|
32
|
GWM005523
|
brecciated volcanics
with quartz and galena
|
0.06
|
7.292
|
843
|
140
|
GWM005524
|
granite with copper
oxides
|
1.56
|
5.531
|
2,438
|
442
|
GWM005525
|
granite with copper
oxides + magnetite
|
0.64
|
0.029
|
14.3
|
1
|
GWM005514
|
Quartz vein in sheared
host sediments
|
bdl
|
1.116
|
0.8
|
5
|
GWM005515
|
Propylitic alt granite
with iron oxides
|
0.004
|
0.025
|
0.9
|
bdl
|
GWM005516
|
Granite with copper
oxides
|
0.09
|
4.514
|
102
|
16
|
SOIL SAMPLING
RESULTS
Last year, 135 new soil samples were taken in
the West Huntoon claims, establishing a copper anomaly (>75 ppm
Cu) of 2 km2 surrounding the granite outcrop, with
strong outlier samples (11 samples >300 ppm, 5 samples > 400
ppm, maximum value 528 ppm Cu) at several locations.
The new soil results also show areas of broad
gold enrichment (anything >5 ppb is considered anomalous). Of
135 samples taken, 124 are >10 ppb Au and 47 are >25 ppb Au.
There are a small number of higher-grade examples, including a
total of eight which are >50 ppb Au and four outliers over 100
ppb, including 1,940, 320, 176 and 106 ppb Au (Figure
2).
When the new soil samples and previous sampling
are considered together, a hot spot of eleven samples in the
southeast of the area is strongly anomalous for copper (121 - 528
ppm Cu) and features some of the higher-grade gold results (248,
164 and 106 ppb Au). This cluster of points is surrounded on three
sides by tertiary cover, with a high probability of continuing
anomalism under the volcanic units. The area is located
approximately 250 m southeast of the West Huntoon granite outcrop
and represents a new exploration target.
Despite the existence of such hot spots, copper
was not generally shown to correlate with precious metals in the
soil results. Although there are areas where copper, gold and
silver are enriched together, a high copper grade does not
consistently indicate high gold and silver grades and vice versa.
This suggests two different mineralising systems in the area,
potentially a deeper-forming porphyry system, subsequently
overprinted by shallower epithermal veins, all now exposed at
surface. This highlights the abundance of potential at West
Huntoon, where evidence is rapidly building for both a large-scale
copper system and discrete high-grade vein-hosted precious metal
targets.
Figure 2. Map focused on the West Huntoon
Granite showing all soils results (2023 and 2015, latter form
straight N-S transects), with colour coding for copper grade (ppm)
and labels for gold grade where it is >100 ppb. Grey outline is
location of Crowne Point Patent Claims.
ADDITIONAL
INFORMATION
All soil samples were submitted to
Paragon Geochemical Laboratories, Reno, Nevada. Samples were
screened to -80 mesh and analysed by method FSAU-25, aqua regia
digest with ICP-MS finish for a 51-element suite. Quality control
samples were inserted by the company and results reviewed prior to
release.
Grab samples were prepped and
analysed at Bureau Veritas in Reno, Nevada, by methods FA430 (fire
assay) for gold and AQ300 aqua regia digest with ICP-ES finish for
a 33-element suite. Internal QA/QC samples were inserted by the
analytical laboratories and reviewed by the Company prior to
release.
Note on units - for grab samples
copper grades are quoted in percent (%) and other metals in grams
per tonne (g/t). For soils, which are typically lower-grade, gold
is quoted in parts per billion (ppb) and copper in parts per
million (ppm). Parts per million is equivalent to grams per
tonne.
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 who is Exploration
Manager of Great Western Mining PLC. Dr Blight is 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.
MARs Statement: This press release
contains inside information as defined in Article 7(1) of the
Market Abuse Regulations.
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
|
|
|
SP
Angel (Joint Broker)
Ewan Leggat/Harry
Davies-Ball
|
+44 203
470 0470
|
|
|
Walbrook PR
(PR advisers)
Nick Rome
|
+44 207
933 8783
|
Notes to Editors
The Company has a large tract of
acreage 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. The Company is party to a 50-50 joint venture known
as Western Milling LLC which is constructing a mill to process
pre-mined material for secondary recovery of gold and
silver.
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.
GWM has also established an Inferred
Resource Estimate of 31,000 tonnes grading 1.6 g/t gold and 3.0 g/t
silver in tailings associated with the OMCO Mine at the Olympic
Gold Project. Additionally, exploration targets have been
independently reported as follows:
·
3,400 - 6,400 tonnes grading between 0.5 and 1.2
g/t Au and 1.2 and 2.1 g/t Ag in the substrate beneath the tailings
volume at the Olympic Mine.
·
9,000 - 12,000 tonnes grading between 0.9 and 2.4
g/t Au and 2.0 and 5.1 g/t Ag in a coarse stockpile at Olympic
Mine.
·
4,200 - 7,700 tonnes grading between 40 and 140
g/t Ag and 0.3 and 0.3 g/t Au in spoil heaps at Mineral
Jackpot.