M2-Sharktooth Update

RNS Number : 2146X

Great Western Mining Corp. plc

08 August 2018

 

Great Western Mining Corporation PLC

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

M2-Sharktooth Update

Great Western Mining (AIM: GWMO and ESM: 8GW) announces that assay results for the M2-041 core samples from 1050 to 1480 feet (320-450 metres) have now been received.

No significant gold, copper or trace element geochemistry was recorded in this first batch of core samples. As previously reported, silica alteration and magnetic intensity increased downhole, and is particularly strong in the last 150 feet (50 metres) to the current depth of 1,671 feet (509 metres).

Drilling through the caprock and breccia at M2-041 has proven to be slower and more difficult than anticipated.  The Company has therefore modified its drilling plans. M2-041 will terminate at the current drilled depth of 1,671 feet (509 metres), and the rig will be moved to the M2-042 location, 600 feet (183 metres) due west and up the structural dip from M2-041. At this new location the projected intersect with mineralised diorite is shallower at 1,180 feet (360 metres).

Chief Executive, David Fraser commented: "The breccia encountered in M2-041 is an indicator of hydrothermal activity in the Sharktooth zone, but forms a thick barrier to depths of at least 509 metres, preventing us from reaching the underlying diorite target. At M2-042 we expect to intersect mineralised diorite at shallower depth. We will keep shareholders updated as work continues."

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").

ENQUIRIES:

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

 

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