M2 Drilling Programme. Interim Report

RNS Number : 0864J

Great Western Mining Corp. plc

09 June 2014

 



Great Western Mining Corporation PLC

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

Interim Report- 2014 M2 Drilling Programme

Great Western Mining, the AIM (AIM:GWMO) and ESM quoted mineral exploration company with 73 sq. kilometres of mineral claims in south-west Nevada USA, is pleased to provide the following progress report on its drilling programme aiming to establish a JORC Resource at the Company's M2-Smith copper target.

Great Western's Phase 1 drilling programme in 2013 completed nine holes (M2-001 to 009) for a total of 2,580 feet, at an average depth per hole of 286.7 feet (87.4 metres). By 28^th May 2014 the Phase 2 drilling programme had completed nine holes (M2-010 to 018) for a total of 6,245 feet, at an average depth per hole of 694 feet (211 metres).

The assay results received in 2014 for holes M2-010 to M2-018, have indicated a further five discovery grade and thickness intercepts, from a further five separate holes. When taken in conjunction with the three discovery grade intercepts from the 2013 Phase 1 drilling programme, M2 has now yielded eight discovery grade intercepts over a strike length of 2,600 feet, being more than double the strike length reported in 2013.

At the end of 2013, twenty separate oxide copper intervals with cut off grades of 0.1% Cu (1,000 ppm Cu) had been drilled at M2. Seven of these calculated intervals had grade-thicknesses greater than 45,000 ppm Cu (Table 1). The three most outstanding 2013 intervals were from three separate holes:

·     M2-001 - 70 feet of 0.16% Cu (21.3 m of 1,640 ppm Cu) in diorite (Kd)

·     M2-004 - 60 feet of 0.50% Cu (18.3 m of 5,038 ppm Cu) in diorite (Kd) and hornfels (Jd)

·     M2-005 - 35 feet of 0.98% Cu (10.7 m of 9,793 ppm Cu) in diorite (Kd)

By the end of May 2014, twenty more oxide copper intervals with cut off grades of 0.1% Cu (1,000 ppm Cu) had been drilled. Five of these calculated intervals, all from separate holes, had grade-thicknesses greater than 45,000 ppm Cu (Table 2):

·     M2-010 - 25 feet of 0.30% Cu (7.6 m of 2,959 ppm Cu) in diorite (Kd)

·     M2-013 - 30 feet of 0.16% Cu (9.2 m of 1,606 ppm Cu) in diorite (Kd)

·     M2-015 - 40 feet of 0.41% Cu (12.2 m of 4,127 ppm Cu) in diorite (Kd) & hornfels (Jd)

·     M2-016 - 10 feet of 0.59% Cu (3.0 m of 5,945 ppm Cu) in diorite (Kd)

·     M2-018 - 55 feet of  0.36% Cu (16.8m of  3,597 ppm Cu) in diorite (Kd)

http://www.rns-pdf.londonstockexchange.com/rns/0864J_-2014-6-6.pdf

The Company believes that this represents significant progress towards achieving the stated objective of establishing a JORC compliant Inferred Resource over the strike length of M2.

Great Western is now entering the most exciting stage of its Phase 2 drilling programme. The construction of a 5,000 feet access road from M2-018 to the top and centre of Bass Mountain is nearing completion. The Company plans to drill a number of deep holes through the well mineralised, planar caprock-diorite structure projecting south east towards the historic Smith copper mine, some 7,260 feet from M2-018. If successful the Company believes that this drilling programme has the potential for a much larger inference over a very large volume of mineralised diorite.

GWM Chief Executive, David Fraser, commented:

"We have now completed 6,245 feet out of a planned 14,000 feet Phase 2 drilling programme and the results to date from the M2 stage of our programme have been very encouraging. The next stage, to drill the centre and south-eastern portion of Bass Mountain will commence over the next few weeks and we keenly await the results of this drilling. We look forward to updating shareholders as work continues."

ENQUIRIES:

Great Western Mining Corporation Plc                

David Fraser, Chief Executive                                  [phone]

Davy (Nomad, ESM Adviser & Joint Broker)       [phone]                                             

John Frain                                                                          [e-mail]                                               

Roland French                                                                  [e-mail]

Hume Capital Securities plc (Joint Broker)          [phone]

Jon Belliss                                                                          

Abigail Wayne                                                                 

Walbrook (UK PR and IR)                                             [phone]    

Paul Cornelius

Guy McDougall                                                                 [e-mail]

 

END

 

 

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