West Huntoon soil and grab results

Great Western Mining Corp. plc

13 November 2024

 

GREAT WESTERN MINING CORPORATION PLC

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

WEST HUNTOON SOIL AND GRAB RESULTS

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) announces positive results of soil and grab sampling at its West Huntoon porphyry copper prospect.

HIGHLIGHTS

·    New soil results further extend the prospective area of the copper porphyry setting.

·    The anomalous copper zone has now been expanded from approximately 2 km² to over 3 km².

·    Infill soils in the highest-grade area confirm previous results with values of 954 and 571 ppm Cu.

·    A selective grab sample taken from an outcropping vein returned very high values - 16.17 g/t gold, 207 g/t silver and 2.37% copper.

Great Western Chairman Brian Hall commented: "We are continuing to appraise our West Huntoon copper porphyry prospect and are gaining an ever better understanding of the relationship between the numerous prospects which make up the extensive Huntoon Copper Project.  This season's field work has significantly increased the area of the copper anomaly at West Huntoon which is now the largest and highest-grade copper-in-soils anomaly in the wider Huntoon Copper Project.

"Further evidence of vein-hosted high precious metal grades is also welcome news.  We have drill-ready prospects at West Huntoon and the novated Huntoon Mine Cooperation Agreement signed earlier this year will facilitate drilling at the centre of the West Huntoon target in the near-term. West Huntoon represents potential for a rapid upgrade of our copper portfolio."

INTRODUCTION

West Huntoon, located in the northwest of the Huntoon Valley in Mineral County, Nevada, is a key prospect within Great Western's Huntoon Copper Project where a resource of 19,000 T contained copper has already been established through extensive drilling by the Company.  The Huntoon Copper Project is a cluster of five prospects at various stages in the exploration pipeline, all lying within a 6 km radius in the north of the Huntoon Valley.  At West Huntoon, a zone of anomalous soils has now been expanded to over 3 km² (740 acres) in area, with overlapping magnetic and chargeability anomalies and granite outcrops which indicate a classic porphyry setting. Follow-up soil sampling was undertaken this year to the northeast, over host rocks of a similar age to those in the core West Huntoon zone. This area is dominated by mafic porphyry outcrops with local copper showings. The host rocks are crosscut by an aplitic dyke swarm and some granitic bosses.

SOIL SAMPLES

During the summer field season 47 new soil samples were collected, with 38 taken in the northeastern area and 9 as an initial infill profile proximal to the best previous results in the centre of the existing anomaly (Figure 1). Results range between 21 and 954 ppm Cu, with a median value of 157 ppm Cu. These samples show good continuity in the copper anomalies reported. The northeastern samples expand the total area of the soils anomaly at West Huntoon by 50 ha (124 acres). The anomalous samples run to the edge of overlying cover, beyond which samples the potentially mineralised rocks are no longer accessible, indicating that continuation under this cover is highly likely.  This pattern is repeated at multiple locations across the West Huntoon prospect.  The infill profile produced two high grade samples (954 and 571 ppm Cu) which were adjacent to the strongest results in the previous survey, indicating good repeatability in this area.

Proving the continuity of anomalism to the northeast in the direction of the Company's copper resource at M2 is an important result. The 2024 IP surveys at West Huntoon identified a chargeability anomaly under the edge of the valley sediments proximal to this area and the identification of elevated copper directly adjacent to this target further supports its prospectivity. Additionally, during this fieldwork further small granitic intrusions were identified within this area.

Figure 1. Map to show locations of new soil samples relative to previously released data.

GRAB SAMPLES

Six selective grab samples were taken from the area, primarily for geochemical purposes (Table 1).  However, one sample in the southwest of the area, from a mineralised vein structure 1 m long by 30 cm wide at outcrop, included strikingly high grades of 16.17 g/t Au, 207 g/t Ag and 2.37% Cu. Further outcrops of this vein are being sought. This sample provides further evidence that a series of high-grade veins are also present at West Huntoon, in addition to its large porphyry potential.

Table 1. Grab sample locations and grades for key metals.

Sample ID	X	Y	Au (ppm)	Ag (ppm)	Cu (ppm)
GWM005568	362479	4225372	16.17	207	23,700
GWM005560	363176	4225056	0.0025	0.1	15.6
GWM005561	363284	4225665	0.009	0.5	11.2
GWM005562	363306	4225668	0.0025	0.5	10.7
GWM005563	363337	4225684	0.015	0.5	8.2
GWM005567	364196	4227175	0.0025	0.1	121

121 MINING INVESTMENT FORUM 

Great Western is participating in The 121 Mining Investment Forum in London on 14-15 November and the Company's presentation will be published shortly before the event.  

ADDITIONAL INFORMATION

All soil and grab samples have been submitted to Paragon Geochemical Laboratories, Reno, Nevada. Soil samples were screened to -80 mesh and analysed by method FSAU-25, aqua regia digest with ICP-MS finish for a 51-element suite. Quality control samples were inserted by the company and results reviewed prior to release. Grab samples were analysed by method Au-FA30/AuAg-GR30 for gold (30 g fire assay, with gravimetric finish for overlimit samples) 35AR-OES for a 35-element suite via aqua regia digest and ICP-OES.

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.

FURTHER INFORMATION

Great Western Mining Corporation PLC
Brian Hall, Chairman	[phone]
Max Williams, Finance Director	[phone]
Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker) Brian Garrahy	[phone]
SP Angel Corporate Finance LLP (Joint Broker) Ewan Leggat/Adam Cowl	[phone]
Walbrook PR (PR advisers) Nick Rome	[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 the seventh and most recent acquisition, the Olympic Gold Project, is in the east of the county, some 50 miles from the main group.  All the Company's claims are 100% owned. Claims at the Eastside Mine Group have been contributed to a pooling agreement with Bronco Creek Exploration, Inc. and in addition the Company participates in the Huntoon Mine Area Cooperation Agreement with landowner-neighbour Crowne Point Resources with whom it shares resources.  Great Western's small exploration team is supported by locally based consultants and contractors. 

The state of Nevada is 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. The Company is party to a 50-50 joint venture known as Western Milling LLC which is constructing a mill to process pre-mined material for secondary recovery of gold and silver.

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. 

GWM has also established an Inferred Resource Estimate of 31,000 tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings associated with the OMCO Mine at the Olympic Gold Project.  Additionally, exploration targets have been independently reported as follows:

·    3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and 1.2 and 2.1 g/t Ag in the substrate beneath the tailings volume at the Olympic Mine.

·    9,000 - 12,000 tonnes grading between 0.9 and 2.4 g/t Au and 2.0 and 5.1 g/t Ag in a coarse stockpile at Olympic Mine.

·    4,200 - 7,700 tonnes grading between 40 and 140 g/t Ag and 0.3 and 0.3 g/t Au in spoil heaps at Mineral Jackpot.

 

END