Mineral Jackpot Spoil Heaps Grab Sampling Results

RNS Number : 4758C

Great Western Mining Corp. plc

23 February 2022

 

GREAT WESTERN MINING CORPORATION PLC

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

MINERAL JACKPOT 

GRAB SAMPLING RESULTS FROM SPOIL HEAPS

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) which is exploring and developing gold, silver and copper targets in Nevada announces the results of recent spoil heap material sampling at the Mineral Jackpot claim group.

HIGHLIGHTS

· Assay results from sampling of 51 spoil heaps

· Average grades of vein material 1.57 g/t Au (range 0.003 - 21.17 g/t Au) and 327 g/t Ag (range 0.8 - 4988 g/t Ag).

· Average grades of altered wall rock 0.04 g/t Au (range 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (range 0.4-103.00 g/t Ag).

· Spoil heaps composed of average 5% vein material and 50% altered wall rock

ASSAY RESULTS AND SPOIL HEAPS COMPOSITION

GWM's Mineral Jackpot claim group has seen considerable mining activity in the past, with several high-grade veins worked both at surface and underground for gold and silver. There is a substantial quantity of waste material remaining at surface around these workings in the form of spoil heaps and initial assay results have now been received from these heaps.

In total 51 mineralised spoil heaps have now been located  at Mineral Jackpot, typically composed of three main types of material, being vein, altered granite host-rock and unaltered granite. Two composite samples were collected from each pile, one of vein rock and one of altered host. The proportional content of each pile or sampling location was then visually assessed. Sampling of the vein and altered granitic host-rock material was carried out in an unbiased manner and was random, not selective. These results are intended to provide an initial guide only to the general nature of the material and not an estimate of the contained mineralisation.

The assay results received are set out in Table 1, along with the portions of vein, altered granite and unaltered granite in each heap.

Vein material was identified in all but two of the heaps, with median grades of 1.57 g/t Au (with a range of 0.003 - 21.17 g/t Au) and 327 g/t Ag (with a range of 0.8 - 4988 g/t Ag). Altered granite occurs in all but two of the heaps, with median grades of 0.04 g/t Au (with a range of 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (with a range of 0.4-103.00 g/t Ag).

The results have led to a prioritisation of selected heaps for follow-up. The next step will be to perform representative sampling of those heaps considered most favourable by size and content and to calculate accurate volumes for the heaps, using a detailed orthophotography survey which will be carried out in the near future.

These measurements are expected to provide sufficient information for completion of a resource estimate.

Table 1 . Composition proportion and assay results of Mineral Jackpot spoil heaps. Heap size will be assessed by a detailed orthophotography survey of the ground in the near future. Note: unaltered granite material was not sampled.

Spoil Heap ID	Spoil Heap Composition Visual Assessment (%)			Vein Assay		Altered Granite Assay
	Vein	Alt. granite	Unalt. granite
				Au (ppm)	Ag (ppm)	Au (ppm)	Ag (ppm)
1-a	1	29	70	0.079	24.2	0.041	13.5
1-b	3	60	37	0.093	29.8	0.018	15.5
1-c	1	69	30	0.023	8.7	0.030	12.4
1-d	5	80	15	6.510	2423.0	0.091	33.9
2-a	30	50	20	0.624	372.0	0.059	88.8
2-b	3	97	0	0.633	589.0	0.025	13.7
2-c	5	95	0	1.259	127.0	0.036	5.0
5	3	77	20	1.574	49.8	0.106	14.9
6	20	60	20	1.273	666.0	0.037	21.3
3	20	50	30	1.046	500.0	0.050	90.8
4-a	20	80	0	1.285	368.0	0.029	14.8
4-b	10	90	0	0.319	201.0	0.022	25.7
7	30	50	20	0.628	433.0	0.023	32.8
8	95	5	0	1.244	613.0	0.156	103.0
9	25	35	40	4.155	1358.0	0.099	67.2
10	40	60	0	3.326	935.0	0.036	28.9
12	30	45	25	5.080	1507.0	0.075	32.2
14	2	58	40	4.762	4988.0	0.028	31.5
16	1	90	9	2.945	1214.0	0.038	12.9
20	0	1	99	n/a	n/a	0.009	0.4
22	0	20	80	n/a	n/a	0.011	1.8
26	5	65	30	0.272	101.0	0.123	33.7
11	3	70	27	0.041	11.6	0.019	7.2
15-a	20	45	35	1.324	580.0	0.024	16.3
15-b	20	45	35	4.272	1673.0	0.041	42.4
17	1	30	69	0.070	26.5	0.041	7.7
18-a	2	70	28	0.819	62.4	0.026	13.1
18-b	3	97	0	10.580	2130.0	0.068	34.4
19	15	65	20	4.694	543.0	0.041	24.2
21	30	50	20	6.550	1421.0	1.094	103.0
23-a	2	88	10	7.850	747.0	0.047	44.4
23-b	1	30	69	1.916	659.0	0.022	10.1
23-c	30	20	50	4.372	736.0	0.028	13.0
23-d	20	50	30	2.740	1062.0	0.071	20.3
23-e	1	59	40	0.059	18.3	0.020	1.1
28	20	50	30	2.317	83.0	0.032	1.9
27	4	86	10	0.707	7.2	0.024	1.0
33	4	20	76	9.220	976.0	0.023	6.8
34-a	10	40	50	0.559	38.9	0.062	26.1
34-b	96	2	2	3.438	240.0	0.183	35.4
34-c	100	0	0	7.620	105.0	n/a	n/a
32	20	30	50	5.050	327.0	0.083	9.6
30	5	65	30	18.390	1019.0	0.249	15.5
29	1	80	19	0.158	8.5	0.049	7.4
36-a	1	29	70	0.054	3.6	0.077	2.5
36-b	1	29	70	0.665	27.3	0.207	3.0
35	2	28	70	10.500	224.0	0.077	10.6
38-a	10	1	89	2.290	46.5	0.010	0.9
38-b	15	10	75	21.170	198.0	0.068	4.2
38-c	20	30	50	19.770	251.0	0.063	6.2
39	100	0	0	0.003	0.8	n/a	n/a
Max	100	97	99	21.170	4988.0	1.094	103.0
Median	5	50	30	1.574	327.0	0.041	14.8
Min	0	0	0	0.000	0.8	0.010	0.4

Great Western Chairman Brian Hall commented: "These Mineral Jackpot results are highly encouraging, indicating a broad distribution of mineralised material throughout the spoil heaps, with locally some very high grades of both gold and silver. We are now in a position to prioritise the largest and richest spoil heaps for use in the next phase of commercialising this significant asset."

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.

 

END

 

 

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