M2-Sharktooth Update and Assay Results

RNS Number : 2026Z

Great Western Mining Corp. plc

30 August 2018

 

Great Western Mining Corporation PLC

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

M2-Sharktooth Update and Assay Results

Great Western Mining (AIM: GWMO and ESM: 8GW) announces assay results for the M2-041 core samples from 450-509 metres (1480 to 1671 feet).

Anomalous copper, nickel and cobalt geochemistry was recorded toward the bottom of the hole which was coincident with the observed increasing silica alteration and magnetic intensity.  The Company believes this to be a strong indicator of (1) the multiple hydrothermal flooding events observed in the altered breccia and (2) the proximity of the mineralised diorite host rock below. The significant M2-041 intersects are highlighted in the table below:

Hole	From (metres)	To (metres)	Interval (metres)	Copper (Cu) (ppm)	Nickel (Ni) (ppm)	Cobalt (Co) (ppm)
M2-041	486.46	488.14	1.68	5515	1742	29

Hole M2-042 was spudded on Monday 27 August 2018. It is located 183 metres west of, and up the structural dip from, hole M2-041 and is projected to intersect with the mineralised diorite at a depth of approximately 360 metres.

As previously reported, drilling through the caprock and breccia at M2-041 proved to be slower and more difficult than anticipated. Therefore, the Company has introduced several operational changes at M2-042, including a night shift, to speed up the rate of drilling and improve performance.

Chief Executive David Fraser commented: "The mineralogic and assay data from the bottom of M2-041 is very encouraging and a good indicator that our geological model remains valid. We are confident that our operational changes will greatly improve drilling performance at M2-042 and look forward to reaching the mineralised diorite target.  As always we will keep shareholders updated as and when relevant information becomes available."

Qualified Person

Donald G. Strachan is a Certified Professional Geologist (CPG-10376) under the auspices of the American Institute of Professional Geologists. Mr. Strachan is also a Fellow of the Geologic Association of Canada, a Member of the Society of Economic Geologists, and a Member of the Geological Society of Nevada. Mr Strachan has sufficient 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' and as a Qualified Person as defined in the Note for Mining and Oil & Gas Companies which form part of the AIM Rules for Companies.

 

Mr Strachan has reviewed and approved the geological content of this announcement.

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

Note: ppm = parts per million

ENQUIRIES:

Great Western Mining Corporation PLC David Fraser, Chief Executive [phone] (via Walbrook)
Davy (Nomad, ESM Adviser & Broker) John Frain Novum Securities Limited (Joint Broker) Jon Belliss [phone] [phone]
Walbrook PR (UK PR and IR) Paul Cornelius Nick Rome [phone] [e-mail]

 

END

 

 

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