Geophysical Surveys Successfully Completed

RNS Number : 8224F

Great Western Mining Corp. plc

24 March 2022

 

GREAT WESTERN MINING CORPORATION PLC

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

GEOPHYSICAL SURVEYS SUCCESSFULLY COMPLETED

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver, and copper targets in Nevada, provides the following summary of geophysical survey work carried out over selected claim groups. 

HIGHLIGHTS

Induced Polarisation Survey

· Eastside Mine: IP results have identified two main graben structures associated with surface veining, alteration and copper shows

Drone Magnetometry

· Mineral Jackpot: Corridors of low magnetic response shown to parallel the main vein orientation and extend beyond the known limits of historic mining

· Mineral Jackpot, Jack Springs, Huntoon and Tun:  Drone magnetometry enhances understanding of broad structural framework facilitating 2022 fieldwork

Drone Orthophotography

· Mineral Jackpot and Olympic Gold: High-resolution digital terrain models created for accurately assessing forthcoming resource estimates of surface waste material for reprocessing  

GEOPHYSICAL SURVEYS

During the winter, multiple geophysical surveys have been conducted over Great Western's portfolio of claims. These surveys consisted of three induced polarisation (IP) profiles of 2,400m each at the Eastside Mine, together with drone magnetometry at the Mineral Jackpot, Jack Springs, Huntoon and Tun claim groups, making a total of 591 line km surveyed.  In addition, 25.7km² of orthophotography surveys were conducted over Mineral Jackpot and the OMCO Mine site.  These surveys have (1) enhanced the Company's understanding of the structures that controlled mineralisation (2) helped to generate new drill targets where anomalies coincide with surface showings and (3) provided high-resolution topographic models covering Great Western's stocks of mineralised mine waste.

Eastside Mine Induced Polarisation Survey

At the Eastside Mine, which is a copper target for the Company, the IP survey profiles were orientated in an east-west direction and designed to test down to 300m depth. Two of the three profiles successfully identified structures of interest, leading to the identification of two graben structures bounding a central horst block. The faults that control these structures have both high chargeability and high resistivity features, interpreted as representing potential mineralised zones (chargeable) adjacent to silicified wall rocks (resistive).  The structures spatially correspond to several surface features indicative of mineralisation, including copper showings, silicified stockwork zones and copper soil geochemistry halos. The results achieved highlight the prospectivity of several areas at the Eastside Mine, providing potential targets for future drilling.  

Mineral Jackpot, Jack Springs, Huntoon and Tun Drone Magnetometry

Broad magnetometry coverage has been obtained over the Company's gold and copper targets at Jack Springs and Huntoon, the gold and silver targets at the Tun group and over the Mineral Jackpot project (Black Mountain claims group). Initial interpretation of the magnetometry data reveals the near surface structural environment and has enhanced the Company's understanding of this structural environment.  Further interpretation and modelling are ongoing.

Mineral Jackpot and Olympic drone orthophotography

Orthophotography surveys have now been completed over the spoil heaps at Mineral Jackpot and the tailings pads at the OMCO Mine (Olympic Gold Project).  The resulting digital terrain models, together with further planned sampling at both sites, will support volumetric assessments for use in forthcoming resource estimates of the spoil heaps and tailings.  

Great Western Chairman Brian Hall commented:    "During the Nevada mountain winter when drilling and other field work is not practical, we have been able to make solid progress in gaining a better understanding of some of our key projects and the regional setting, using geophysical contractors who have delivered on time and under budget.  We will make effective use of the results achieved in advancing our plans for exploration and appraisal drilling as well as for exploitation of our inventories of pre-mined material.  As ever we will do our best to keep shareholders informed in a timely manner."  

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	[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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