Olympic Gold Project - Drilling Update

RNS Number : 2938Y

Great Western Mining Corp. plc

12 May 2021

 

GREAT WESTERN MINING CORPORATION PLC

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

OLYMPIC GOLD PROJECT - DRILLING UPDATE

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) provides the following progress report on its 2021 drilling campaign in Mineral County, Nevada.

The initial 6-hole programme at the Trafalgar Hill propect ('Trafalgar Hill') is now complete, with 4,430 feet (1,350 metres) achieved, against a plan of 4,425 feet (1,348 metres). Due to a high rate of penetration, the six holes were completed in 15 drilling days at an average rate of 295 feet (90 metres) per drilling day with no safety incidents, significantly ahead of schedule and under budget.

All six holes initially appear to have intercepted the main shallow target structure, providing a potential strike length of at least 300 metres and a continuation down dip of over 100 metres. 

The two northernmost holes also intercepted the Company's deeper target in the footwall of this breccia zone. 

Laboratory assay results from the first four holes are expected later this month and will be announced when available.  While target structures have been successfully identified, precious metal content cannot be established until the independent laboratory assays have been completed.

With the Trafalgar Hill drilling programme complete, the rig is currently being moved to the close-by West Ridge prospect, which will be followed by the Omco Mine Extension prospect.  All these prospects lie within the Olympic Gold Project which the Company acquired on an option-to-purchase basis in 2020.  Once these Olympic Gold prospects have been drilled, the rig will move to the Rock House Group for the next stage of the 2021 programme.

Further updates will be issued when appropriate.

For further information:

Great Western Mining Corporation PLC
Brian Hall, Chairman	[phone]
Max Williams, Finance Director	[phone]
Davy (NOMAD, Euronext Growth Adviser & Joint Broker) John Frain	[phone]
Novum Securities (Joint Broker) Jon Belliss	[phone]
ETX Capital (Joint Broker)  Thomas Smith	[phone]
Walbrook PR (PR advisers) Nick Rome/Nicholas Johnson	[phone]

 

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