Drilling Programme 2022

RNS Number : 9335A

Great Western Mining Corp. plc

08 February 2022

 

GREAT WESTERN MINING CORPORATION PLC

("Great Western", "GWM" or the "Company")

Drilling Programme 2022

Great Western Mining Corporation PLC, which is exploring and developing gold, silver and copper targets in Nevada, today updates shareholders on its 2022 approved drilling programme.  Four drill targets have been prioritised for the first stage of the 2022 drill programme, with start-up in early spring as soon as ground conditions permit. 

Highlights

· 23 holes planned at Trafalgar Hill, OMCO and Rock House

· Early spring start-up when ground conditions permit

· Drill programme funded from existing cash reserves

The Olympic Gold Project ("Olympic")

The 825-acre Olympic group of claims is located on the northern flanks of the Cedar Mountain range in central-east Mineral County, Nevada.  Olympic is a low-sulphidation epithermal banded quartz gold vein deposit type.  At the heart of the claim group is the OMCO Mine which produced 35,000 tons at 25 g/t Au and 30 g/t Ag between 1918 and 1939 from 900 metres of underground workings, before being abandoned in the 1940s.

Trafalgar Hill (Olympic)

In 2021, Great Western drilled six holes at Trafalgar Hill, totalling 4,435 feet (1,352 metres), to test both shallow and deep levels of the vein and fault system. The drilling resulted in previously announced high-grade gold intercepts (1.5m at 8.9 g/t Au and 1.5m at 1.04 g/t Au) in the shallower zone to the south of the hill.  Trafalgar Hill comprises gold-bearing quartz veins with a corresponding mineralised argillic alteration zone at surface, proximal to a fault identified by ground magnetometry surveys carried out by the Company.

The shallow zone mineralisation occurs in the contact zone at the base of a mafic horizon, confirmed by visual inspection and chemostratigraphy.  Enrichment in gold and silver occurs at this contact in all six holes, but it was in the southernmost fence, adjacent to sulphides and elevated manganese concentrations, that the high grades were identified.  The mafic unit dips to the east, and the mineralisation is interpreted to be following this dipping contact.

In 2022, five holes totalling 3,310 feet (1,009 metres) will be drilled to follow-up the encouraging 2021 results, with the aim of tracking the structure to the south (along-strike) and east (down-dip) of the existing intercepts.   In the deeper zone an induced polarisation (IP) survey will most likely be carried out for better target definition prior to further drilling.

OMCO Mine Extension (Olympic)

The principal productive vein at the old OMCO Mine is truncated by a north-south trending fault.  In 2021 Great Western drilled four holes on the east side of this fault, totalling 3,185 feet (971 metres), with the objective of locating a possible continuation of the OMCO vein in this area.  Any such extension, if located, could host high gold grades similar to those achieved at the OMCO Mine in the past.  A breakthrough was achieved in 2021 when assays of cuttings from the drill programme east of the fault established mineralisation similar in style to the productive OMCO vein.  Further drilling this year will attempt to zone in on the main target.

The 2022 programme will also test other potential vein mineralisation in the vicinity of the OMCO Mine.

OMCO Mine South (Olympic)

After reviewing work carried out at the OMCO Mine site by previous claim holders, Great Western believes that the wall rocks to the abandoned OMCO Mine vein workings may host appreciable quantities of gold, not mined during previous operations.  In 2022, this will be addressed by drilling through the mined portions of the OMCO vein, which has never previously been attempted. 

13 holes, expected to total 7,285 feet (2,220 metres), are planned in the OMCO area.  

The Rock House Group (RH)

The Rock House Group covers 6.2 km² and contains three distinct gold and silver targets.  Great Western identified these targets through satellite imagery, desktop research, rock chip sampling, soil sampling and trenching, prior to first drilling in 2021.  Within these three targets, work last year focused on the Southern Alteration Zone (SAZ), with six holes drilled totalling 1,685 feet (515 metres).  Gold was encountered at shallow depths in multiple holes with best intercepts of 8.02 g/t Au in one hole and 2.29 g/t Au in another (as previously announced).

The stratigraphy and structural settings at RH are similar to those found in the nearby Candelaria District, which produced 38.5mt at 61 g/t of silver from an open-pit and heap-leaching operation from 1980 until recent times, as well as high grade ore from narrow veins mined underground in the late 19^th and early 20^th centuries.

Southern Alteration Zone (RH)

The objective of the 2022 programme will be to uncover further extensions to the identified mineralisation along-strike to the west and deeper drilling will aim to establish whether the zone contains significant dip extents. The programme will test a potential increase in zone thickness and grade where narrow structures coalesce, either along-strike or down-dip.  Five holes totalling 2,380 feet (725 metres) are planned at RH.

Great Western Chairman Brian Hall commented:  "Following our successful 2021 drill results we have an excellent slate of targets and are looking forward to starting field work in the spring.  During the winter GWM's team has been working intensely on the selected prospects and a well-thought out programme reflects the results of their efforts.

"Rock House had never been drilled prior to 2021 and follow-up drilling this year will be exciting.  At Olympic, Great Western has a target range of 450,000-1,250,000 oz. gold from a combination of all the prospects and a successful drill campaign at either the OMCO Mine Extension or Trafalgar Hill could be transformational for the company.  In addition to the programme announced today, we have a rich pipeline of further targets to address later in the year.  

We will keep shareholders advised on progress."

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.

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	[phone]
Max Williams, Finance Director	[phone]
Davy (NOMAD, Euronext Growth Adviser & Joint Broker) John Frain	[phone]
Novum Securities (Joint Broker) Jon Belliss	[phone]
Walbrook PR (PR advisers) Nick Rome/Nicholas Johnson	[phone]

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. 

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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