Operational Update

RNS Number : 4857D

Great Western Mining Corp. plc

26 June 2019

 

Great Western Mining Corporation PLC

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

Operational Update

Great Western Mining (AIM: GWMO; Euronext Growth: 8GW) is pleased to provide the following update on its 2019 field programme in Mineral County, Nevada.

Between April and June 2019, a geological mapping, rock chip sampling and soil sampling programme has been completed on the TUN, JS, RH & EM groups of claims covering a total area of 47.6 km².

A structural synthesis of mineralised veins and brecciated fault zones found in the field, along with a review of a previous Induced Polarisation and Resistivity (IP/RES) survey, has shown excellent correlation with regional anomalous aeromagnetic lineations outlining the position of the Golconda Thrust Fault. 

The Golconda Thrust Fault is an extensive regional structure spanning Nevada and providing a major pathway for hydrothermal mineralisation. The gold-silver Candelaria mining district has historically been reported as the most westerly mapped extent of the contiguous Golconda Thrust Fault terrane.

However, recently completed studies by GWM geologists have enabled them to trace discontinuous splays of the Candelaria-Golconda Fault west of the Candelaria mining district, directly intersecting identified mineralised structures and geophysical anomalies within the EM, RH, JS & TUN groups of claims. Great Western Mining's Golconda Claims therefore sit directly upon the projected western continuation of the fault system that hosts the gold-silver Candelaria mining deposits.

Please click link below to view a PDF map of the Golconda-Candelaria Fault Claims.

http://www.rns-pdf.londonstockexchange.com/rns/4857D_1-2019-6-26.pdf

Within the TUN Group of claims (M6), several quartz-hematite veins up to 2 metres wide, over a 2 km strike length of surface exposure, have been located and sampled. The veins occur within a heavily faulted and oxidised sedimentary sequence. Rock chip samples taken from surface exposures, consisting of 2 - 5 kg of material per sample, were submitted to accredited laboratories in Reno, Nevada for precious and base metal analysis.  Results from twenty-eight samples collected at TUN are given in Table 1, showing only elevated gold values of > 0.1 ppm Au and elevated copper values of >0.1% Cu.

Table 1 Rock chip assay results taken at TUN, containing elevated levels of gold (>0.1 ppm) and copper (>0.1%) only

X	Y	Claim	Au (ppm)	Cu (%)
359124	4219358	TUN	9.84	0.04
359230	4219422	TUN	4.99	0.04
359171	4219372	TUN	4.15	0.08
359307	4219174	TUN	2.66	0.07
359152	4219374	TUN	1.33	0.01
359243	4219390	TUN	0.83	0.01
358852	4219113	TUN	0.57	0.00
359676	4219354	TUN	0.55	0.57
359163	4219376	TUN	0.36	0.04
359297	4219181	TUN	0.27	0.02
359220	4219413	TUN	0.18	0.01
359220	4219413	TUN	0.13	0.07
359243	4219390	TUN	0.11	0.00
357968	4219399	TUN	0.07	1.21
359683	4219496	TUN	0.00	1.11
359685	4219354	TUN	0.00	0.57
359297	4219161	TUN	0.00	0.11

At RH Group (M7), massive sulphide bearing oxidised quartz breccia veins with pervasive silicification and argillic alteration on faulted contacts between slate, siltstone and rhyolites have been mapped and sampled. These mineralised structures are traceable across the entire 2.7 km east-west extent of the RH claim block. Twenty-two rock chip samples were collected in April 2019 and Table 2  shows elevated gold and copper values in one of the samples, indicating the presence of mineralising fluids within the fault block. This finding will be followed up with further rock chip sampling and a surface soil sampling programme.

Table 2 Rock chip assay results taken at RH, with elevated gold values >0.1 g/T Au and elevated Copper values > 0.1% Cu

X	Y	Claim	Au (ppm)	Cu (%)
379646	4222695	RH	0.243	0.13

Within the JS Group of claims, the M5 prospect lies to the south of the Company's M4 Copper-Gold project.  M5 is a copper-gold target associated with sulphide-quartz veining along a gabbro and limestone contact. Results from twenty-eight rock chip samples taken at M5 are given in Table 3, indicating elevated gold and copper values.

Table 3 Rock chip assay results taken at M5 prospect, within the JS Group, showing only samples with elevated gold (>0.1 ppm) and copper (>0.1%) values

X	Y	Claim	Au (ppm)	Cu (%)
371386	4222130	JS	0.74	0.01
371427	4222156	JS	0.74	0.03
371427	4222156	JS	0.30	0.01
371408	4222220	JS	0.15	0.01
371402	4222103	JS	0.12	0.01
371354	4222058	JS	0.02	2.79

Recent geological mapping at the EM Group (M8) has identified numerous copper-quartz-iron oxide breccia veins in silicified stockworks and fault zones that may be traced across large areas of the claim block. Thirty-one surface rock chip samples taken at EM have been submitted to the Bureau Veritas Inspectorate laboratory in Reno, with results expected within the next few weeks. A soil sampling programme is currently underway at EM to define further anomalous targets and host structures.

These recent results demonstrate the potential prospectivity of the Golconda-Candelaria Fault corridor on Great Western Mining claims, evidenced by a regional aeromagnetic anomaly exceeding 4 km in length and encompassing the width of the JS group; 1-2 m wide gold bearing quartz veins within intensely iron oxidized fault zones at TUN Group along a 2 km strike length; and  copper oxide, massive sulphide & quartz-iron breccia veins in both silicified and argillised fault zones across both the RH and EM groups. These findings provide a new substantial geological and mineralogical model that will form the basis of future exploration activities on the Golconda Claims by the Company.

Further programmes are planned for the TUN, RH and JS groups over the coming field season.

Chief Executive, David Fraser commented: "The early part of this year's field programme has yielded some really encouraging results. The potential westward extension of the Golconda Fault corridor onto the GWM claim area has significant implications, supporting the Company view of district style faulting over our land area. We are particularly excited about the implications this may have for the very large IP anomaly over M4 that is perfectly aligned to the northern tramline of the Golconda Fault. As previously reported the Company is planning a drilling programme this Autumn to target the M4 anomaly. We look forward to reporting further results as the field work on the Golconda claims continues this Summer."

Qualified Person

Information in this announcement has been reviewed by William Cooper, who is the Chief Geologist and Exploration Manager of Great Western Mining.  He holds a MSc in Mining Geology from the Camborne School of Mines.  He is a Member of the Australian Institute of Geoscientists (MAIG) and a Fellow of the Geological Society of London (FGS), and is a Qualified Person as defined in the Note for Mining and Oil & Gas Companies which form part of the AIM Rules for Companies. Mr Cooper consents to the inclusion of the information in the form and context in which they appear.

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, Euronext Growth Adviser & Broker) John Frain Matthew De Vere White	[phone]
Novum Securities Limited (Joint Broker) Jon Belliss	[phone]
Walbrook PR (UK PR and IR) Paul Cornelius Nick Rome	[phone] [e-mail]

 

END

 

 

UPDEAPKKASFNEEF