M1 Update

RNS Number : 6827M

Great Western Mining Corp. plc

17 October 2016

 

Great Western Mining Corporation PLC

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

"M1" Update

Great Western Mining, the AIM (AIM: GWMO) and ESM quoted mining company provides the following update on the M1 prospect.

During the spring and early summer of 2016, the Great Western Mining field team conducted a second soil and rock chip sampling programme on M1 to consolidate the very encouraging results of the previous year. The programme has taken a total of 215 soil samples at 40 metre intervals, and 70 randomly selected rock samples, and sent these to Bureau Veritas, Reno for analysis.

The sampling programmes have been designed by Dr Tom Molyneux, GWM's geological advisor, in order to determine the existence of a mineralised zone below the NE-SW trending magnetic anomaly identified in previous aero-magnetics and ASTER satellite surveys carried out by the Company.

The programme has revealed widespread anomalous mineralisation. In particular, Gold seems to constitute a geochemical anomaly, with sample readings above 240 ppb Au, spanning two separate soil grid lines, approximately 350 metres apart. Anomalous readings of Silver, 1383 and 1986 ppm Ag, and Lead, 4434 ppm Pb, have also been found in these locations. The Company views this area as a potential drilling target zone.   

The drilling target zone is just to the North East of the area held by neighbouring claim holder Crown Point Gold & Silver Mining LLC ("Crown Point"), and is within the 34 claims held by GWM that form part of the Huntoon Mine Area Cooperation Agreement, signed with Crown Point in August.

Further refining of the data is ongoing and shareholders will be kept updated on progress.

Great Western Mining's Geological Advisor Tom Molyneux commented on the results: "The soil and rock samples taken in 2015 and 2016 have provided the anomalous values set out above (Silver 1383 ppm et seq.). Further field work is necessary to investigate this precious and base metal anomaly, but if a trend can be established for this mineralisation some inclined drilling would be justified. "

Chief Executive, David Fraser commented: "This is positive news. The 2016 field work on M1 has confirmed and extended the widespread anomalous mineralisation found in 2015. The Company is currently assessing an exploratory level drilling programme for the target zone for Gold and Silver that has been identified. We look forward to updating shareholders with further results as work is completed.".

ENQUIRIES:

Great Western Mining Corporation Plc David Fraser, Chief Executive		[phone] (via Walbrook)
Davy (Nomad, ESM Adviser & Joint Broker) John Frain Roland French		[phone] [e-mail] [e-mail]
Beaufort Securities Ltd (Joint Broker) Jon Belliss Elliot Hance		[phone]
Walbrook PR (UK PR and IR) Paul Cornelius Nick Rome		[phone]  [e-mail]

 

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