TIDMGWMO
RNS Number : 3988F
Great Western Mining Corp. plc
10 July 2023
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
EXPLORATION UPDATE
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and
copper targets in Nevada, is pleased to provide the following
update on current exploration activity.
HIGHLIGHTS
-- Follow up drilling planned at Mineral Jackpot, M2 copper prospect and the OMCO Mine
-- Rhyolite Dome at Olympic Gold Project now a focus of exploration activity
-- Positive results from soil sampling at M5 and Rock House
-- Further pre-mined material identified for processing
INTRODUCTION
During the past winter, Great Western carried out a thorough
desktop review of most of the Company's claims in Nevada and in the
first three months of field operations has followed this up with
work on the ground which is still ongoing, in particular soil
sampling and analysis in areas considered prospective for both
precious metals and base metals.
A total of 53 soil samples and 43 grab samples have been taken
to date, covering (1) the Olympic Gold Project (2) Rock House where
the Company successfully drilled in 2021 and 2022 and (3) the Jack
Springs group (also known as JS) which is considered to be
prospective but has not until now been selected as an exploration
priority. Positive results have been achieved in all three
areas.
Olympic Gold Project
In 2020 Great Western acquired a 4-year option to purchase the
800-acre Olympic Gold Project and one further payment of $40,000,
due no later than May 2024, will complete this purchase. Olympic
contains multiple gold prospects and was host to the prolific and
high-grading OMCO gold mine between the two world wars.
Drilling History: Over the last two years, Great Western has
drilled numerous holes at Olympic covering three prospects:
Trafalgar Hill, West Ridge and the OMCO Mine site. The best
intercept at Trafalgar Hill was 8.9 g/t au. There were no
intercepts at West Ridge, but subsequent analysis indicates that
follow-up holes are warranted. In the OMCO Mine area, Hole OMRC015
drilled in 2022 significantly discovered what the Company believes
to be an extension of the abandoned OMCO gold mine.
In the spring of this year the Company mobilised a diamond core
rig to twin OMRC015 at the OMCO Mine site (figure 1), firstly to
try and gain a more detailed understanding of the mineralisation in
the vein and secondly to test the feasibility of diamond core
drilling in this environment. In the event, recovery issues were
encountered, particularly at the anticipated depth of
mineralisation, believed to be due to the profoundly shattered and
tectonised nature of the OMCO fault in this area Due to the
recovery issues in this hole, last year's OMRC015, with a best
intercept of 1.52 m at 8.110 g/t, remains the most successful
measurement of the unmined portions of the OMCO vein.
Rhyolite Dome: is an under-explored target in the southeastern
part of the Olympic Gold Project (figure 1), consisting of a suite
of clay-altered andesite volcanics surrounding a rhyolite dome with
scattered gold anomalies. Despite a large area of prospective
geology and substantial areas of alteration, very few surface
samples were taken by previous claim holders and reconnaissance
sampling this year has shown that there is a considerable area of
surface anomaly. A cluster of eight samples in a valley to the
south of the dome structure produced grades ranging from below
detection limit (BDL) to 0.187 g/t Au, including three above 0.118
g/t. Four samples from an outcrop 700 m northeast of Rhyolite Dome
returned grades ranging from 0.08 - 0.135 g/t Au. These results
illustrate the strong prospectivity of the Rhyolite Dome target and
will be followed-up with a programme of 146 new samples during the
course of this summer.
Further Material for Processing: Additional surface dumps at
Olympic were bulk sampled, two of which returned appreciable grades
of gold as follows:
1. A bulk sample taken from a waste heap located near an adit at
the northern end of Trafalgar Hill returned a grade of 5.88 g/t Au
from a 13.9 kg sample. This heap has a volume of approximately 60
m(3) .
2. A dump situated southwest of a previously identified coarse
stockpile exploration target at the OMCO Mine site returned a grade
of 1.413 g/t Au from a 11.2 kg bulk sample. This dump has an
approximate volume of 120 m(3) .
Seven other dumps returned grades between 0.028 and 0.128 g/t
Au. The two higher grade features will be resampled to check the
representativity of the results and added to the inventory of
materials available for processing by the Company's Western Milling
JV, due on stream shortly.
Figure 1. Recent grab samples and drillhole at the Olympic
claims.
Jack Springs (JS Group)
The M5 prospect in the southeastern part of the Jack Springs
claim group was identified early in the Company's history. It is a
gabbro intrusion in limestones and rhyolites, mineralisation being
associated with the alteration zone around the gabbro, and forms a
prominent northeast trending ridge, standing proud of the
surrounding tertiary lavas. The desktop review justified a closer
look at M5's potential and five new soil traverses across the
northeasterly trend of the M5 ridge have now been conducted.
Spacings of 50 m between lines and 15 m between samples on each
line were used with 37 samples collected. This sampling was
successful, identifying anomalous gold values (>10 ppb Au) in 18
of the samples. Some of the best results included 395, 195, 148 ppb
Au. Three lines to the southwest of the survey area contained most
of the anomalous samples and the anomaly is open to the SE, SW and
NW.
In addition to soil sampling, several grab samples were taken
from features of interest. Two, from old workings, were
particularly notable and a sample taken from a small pit on the
southeastern flank of the M5 hill returned a grade of 1.247 g/t Au.
This shows that discrete mineralised structures with potentially
economic grades of gold are present at M5. The majority of the
anomalous soil anomalies are up-slope from this single working.
Another working on the northeast flank of the hill, 120 m away
from the nearest soil sample, returned a grade of 0.291 g/t Au, 534
g/t Ag, and 0.105% Cu from a malachite-bearing quartz vein sample.
This represents the first identification of significant silver
results from M5, the previous most silver-rich samples being 24 g/t
and 18 g/t in grab samples from the crest of the hill. Three grab
samples taken from low topography 500m east of the M5 hill returned
anomalous values for Au in the range of 0.018 - 0.040 g/t,
indicating the potential for a far larger zone of prospectivity
around the M5 ridge. Three other samples in this vicinity ranged
from BDL to 8 ppb Au.
During this summer, the soil coverage at M5 will be expanded in
the open directions, with 165 samples planned. Further grabs will
be taken from altered / veined outcrops.
Figure 2. Recent soil and grab samples taken at M5.
Rock House Group
In an area of historic mines, the claims making up the Rock
House group had never previously been explored. Great Western
identified the potential mineralisation of the area from satellite
imagery and consequently staked claims. In 2019 an initial 100 m x
100 m reconnaissance grid was soil-sampled at Rock House (figure
3), leading to the identification of several targets, including the
Southern Alteration Zone (SAZ), the Northern Slate Zone (NAZ) and
the Eastern Shear Zone (ESZ). The NAZ and ESZ have not been
followed up since then, the Company's primary focus being on
drilling at the SAZ. First drilling was carried out in 2021. A
significant 1.5 km long north-south trending structure extends
through the NAZ and to the SAZ, passing close to the best drillhole
of 2021 (RHRC006) which intercepted 9.14 m at 1.635 g/t Au from
89.92 m, including 1.52 m at 8.02 g/t Au from 97.5 m.
As a conceptual test, two east-west orientated soil traverses
were completed earlier this year, filling in grid gaps around the
most anomalous samples from earlier work proximal to the noted
structure (figure 3, inset). The sample spacings were 20 m on these
lines. This sampling was successful and almost all of the samples
returned gold grades similar to or higher than the previous maximum
of a reconnaissance survey in the NAZ and ESZ area (39 ppb Au). One
sample returned 113 ppb gold, more than double the previous
maximum. Out of 16 samples, 12 were above 36 ppb Au and the other
three were between BDL and 9 ppb Au). Further close-spaced soil
sampling will be undertaken as follow up, with 350 samples
planned.
Figure 3. Previous reconnaissance grid at Rock House, with all
samples >15 ppb Au labelled. Inset; new samples taken in 2023
with all results labelled by Au (ppb).
M2 Copper Prospect
The M2 copper prospect lies in the Black Mountains claims group.
Great Western has drilled 5,000 metres in this area and established
a JORC-compliant resource, partly indicated/partly inferred,
through an independent study published in 2018. This reported 4.28
million tonnes grading 0.45% copper. Additionally, in the centre of
the reporting area is a zone which has only been lightly drilled
and regarding which the author of the independent study states in
his report:
"The deposit contains a central area, 300 meters in length,
which has only been tested by two drillholes. This area is given a
high probability of containing additional resources. At a finding
rate of 3,505 tonnes per meter we assume a probable target of 1 to
3 million tonnes, grading 0.4 to 0.6 percent total copper."
The area already successfully drilled is also open to the
southeast and to the northwest over considerable distances,
covering a much larger area than the prospect already
established.
In a northeasterly direction M2 is open along strike for 2.5 km.
There are clear surface indications of copper and evidence of
historic workings for copper and tungsten but there has been no
modern exploration. To the southwest M2 is open for 2 km along
strike, with untested IP and magnetic anomalies.
Anomalous values of rare earth elements La and Ce have been
detected in samples taken at M2.
To help unlock the copper potential, Great Western plans to
drill a minimum of one and a maximum of three holes on M2 during
2023 as a first stage in expanding the size of the potential
resource and to encourage participation by industry partners with
the means to expand this potentially commercial copper project.
Current Plans
Drilling:
1. An RC hole is planned in the near future at Mineral Jackpot,
to follow up a successful hole drilled in 2022.
2. A minimum of one hole and a maximum of three holes are planned at the M2 copper prospect.
3. Further holes are planned at the Olympic Gold project,
particularly around the extension to the OMCO Mine historic
vein.
Other Exploration:
As well as ongoing soil sampling plans at Rhyolite Dome, M5 and
Rock House, sampling programmes are planned at:
-- Jack Springs Northeast: An open copper anomaly identified
through existing soil sampling results lines up with copper in grab
samples 1.5 km to the east. The unsampled area will be filled in
for better definition of a future drill target.
-- Tun Group of Claims: A reconnaissance soils grid will be
sampled over the whole area of the Tun claims.
-- Huntoon Group of Claims: Open soils anomalies will be
followed up and new road-cuts mapped and sampled.
Great Western Chairman Brian Hall commented: "It will be
apparent that we have a very active exploration effort in progress
and planned for the rest of this year, with numerous prospects to
work on at different stages of development and which over time we
plan to integrate with our milling joint venture now under
construction and well advanced. We will keep shareholders informed
about significant developments."
Qualified Person Statement: The information in this announcement
that relates to exploration results is based on information
reviewed by Dr James Blight MGeol PhD MAusIMM who is Exploration
Manager of Great Western Mining PLC. Dr Blight is a "Qualified
Person" as defined in the "Note for Mining and Oil & Gas
Companies" which form part of the AIM Rules for Companies. Dr
Blight has reviewed and consented to the inclusion in the
announcement of the information in the form and context in which it
appears.
For further information:
Great Western Mining Corporation
PLC
Brian Hall, Chairman +44 207 933 8780
Max Williams, Finance Director +44 207 933 8780
Davy (NOMAD, Euronext Growth Listing
Sponsor & Joint Broker)
Brian Garrahy +353 1 679 6363
SP Angel (Joint Broker)
Ewan Leggat +44 203 470 0470
Walbrook PR (PR advisers)
Nick Rome/Joseph Walker +44 207 933 8783
Appendix A
Drill collar
Hole ID Easting Northing Elevation EOH (m) Azimuth Dip
OMDD01 422211 4273557 1830.34 51.51 0 -90
-------- --------- ---------- -------- -------- ----
Drill results
Start Interval Recovery
Hole ID (m) End (m) (m) Au (g/t) Ag (g/t) (%)
OMDD01 0.00 36.27 36.27 Not analysed 96.9
------ -------- --------- -------------------- ---------
OMDD01 36.27 37.80 1.52 0.053 1.4 77.0
------ -------- --------- --------- --------- ---------
OMDD01 37.80 39.32 1.52 0.052 3.2 92.6
------ -------- --------- --------- --------- ---------
OMDD01 39.32 40.84 1.52 0.09 8.3 24.0
------ -------- --------- --------- --------- ---------
OMDD01 40.84 41.61 0.76 0.243 17.8 12.0
------ -------- --------- --------- --------- ---------
OMDD01 41.61 42.37 0.76 0.141 5.7 25.2
------ -------- --------- --------- --------- ---------
OMDD01 42.37 43.89 0.02 0.022 6.8 92.0
------ -------- --------- --------- --------- ---------
OMDD01 43.89 45.42 1.52 0.008 <0.3 99.0
------ -------- --------- --------- --------- ---------
OMDD01 45.42 46.94 1.52 0.018 0.6 89.0
------ -------- --------- --------- --------- ---------
OMDD01 46.94 51.51 4.57 Not analysed 83.0
------ -------- --------- -------------------- ---------
Notes to Editors
The Company has a large tract of acreage in Mineral County,
Nevada. The area consists of rugged, mountainous terrain, which
means that large parts of it remain under-explored. Mineral
potential is hosted by the regional Walker Lane Structural Belt,
the largest structural and metallogenic belt in Nevada, yet one of
the least explored in recent times, with gold, silver and copper
currently produced in Mineral County. Great Western has seven
distinct concession areas which offer the potential for exploiting
(1) short term gold and silver deposits and (2) long-term,
world-class copper deposits.
Six of the Company's properties are in the west of Mineral
County and are 100% owned and operated. The Company has an option
to acquire a seventh property, the Olympic Gold Project, in the
east of the county. Great Western's small exploration team is
supported by locally based consultants and contractors.
The state of Nevada has recently been rated by the Fraser
Institute of Canada as the world's most mining friendly
jurisdiction. While tightly regulated and environmentally
conscious, Nevada welcomes the mining industry. Great Western takes
care to ensure that its claims are maintained in good standing and
all regulations observed.
There are numerous gold and silver prospects on the Company's
acreage, including extensive historic mine workings which offer the
opportunity for secondary recovery. The Company is party to a 50-50
joint venture known as Western Milling LLC which is constructing a
mill to process pre-mined material for secondary recovery of gold
and silver.
Furthermore, through extensive drilling over a five-year period,
GWM has established a Mineral Resource on its first target area
known as M2, of 4.3 million tonnes at 0.45% copper, for 19,000
tonnes of contained copper metal. This resource has been
independently reported in accordance with JORC guidelines.
GWM has established an Inferred Resource Estimate of 31,000
tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings for the
OMCO Mine at the Olympic Gold Project. It has also established
Exploration targets. In addition, the Company has reported an
Exploration Target as follows:
-- 3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and
1.2 and 2.1 g/t Ag in the substrate beneath the tailings volume at
the Olympic Mine.
-- 9,000 - 12,000 tonnes grading between 0.9 and 2.4 g/t Au and
2.0 and 5.1 g/t Ag in a coarse stockpile at Olympic Mine.
-- 4,200 - 7,700 tonnes grading between 40 and 140 g/t Ag and
0.3 and 0.3 g/t Au in spoil heaps at Mineral Jackpot.
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