Update on M2 Technical Scoping Study

RNS Number : 1958F

Great Western Mining Corp. plc

16 February 2018

 

Great Western Mining Corporation PLC

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

Update on M2 Technical Scoping Study

On 10 October 2017 Great Western Mining released a summary of a JORC compliant Technical Scoping Study produced by WT Cohan & Associates ("WTC") over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. WTC have informed GWM that they have found errors in the M2 resource block model which may have resulted in an overestimate of the resources. As the Technical Scoping Study no longer conforms to JORC public reporting requirements, and pending clarification and recalculation, Great Western Mining withdraws the announcement of 10 October 2017, and the associated resource announcement of 12 June 2017.

The current M2 infill drill programme is nearing completion and both the in house geological team and the Company's independent geological consultant, Don Strachan, have reported observations of malachite in chip samples and excellent geology. Drilling at M2 is proceeding to plan with assay results expected around the end of March.

Chief Executive David Fraser commented: "While disappointing, we have no reason to believe at this stage that the overall viability of our project at M2 will be challenged and drilling on site is progressing well and on budget. The Company will continue to keep shareholders updated with developments."

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

ENQUIRIES:

Great Western Mining Corporation Plc David Fraser, Chief Executive		[phone] (via Walbrook)
Davy (Nomad, ESM Adviser & Joint Broker) John Frain		[phone]
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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