Great Western Mining Corporation PLC (AIM – GWMO, Euronext Growth – 8GW, “the Company”), which is exploring and developing gold, silver and copper targets in the Walker-Lane trend of Nevada, provides the following further update on its current drilling campaign.
· Three holes have now been drilled at Trafalgar Hill with a combined length of 430 metres
· The lithology and alteration were successfully predicted and the target horizon encountered in all three holes
· Rig now at the Olympic Mine site where eight holes are planned
Following completion of the three-hole Rock House programme, announced on 8 June, the Company’s contracted reverse circulation (RC) drill rig was moved to the Trafalgar Hill prospect at the Olympic Gold Project, where it has now drilled three holes with an aggregate length of 430 metres. These were designed to follow-up the positive results achieved in the 2021 drill programme at the shallower zone in the southern part of the Trafalgar Hill claims. As previously announced, the best intercepts achieved during the 2021 drill programme in this location were (1) 7.6 m at 1.91 g/t gold (including 1.5 m at 8.90 g/t) from 85.3 m in hole OMRC006; and (2) 1.5 m at 1.04 g/t gold from 35.1 m in hole OMRC005.
The Company developed a geological model based on last year’s drilling results and was able to predict the lithology and alteration features intersected in the three holes just completed with great accuracy.
The mineralised zone encountered in all three holes occurs at the contact between a haematite-altered basalt and a pyrite-impregnated rhyolite, corresponding very closely to the precise location predicted by the Company’s own stratigraphic and structural model and demonstrating likely continuity from the successful holes drilled on the claims in 2021.
In the third hole, OMRC014, this horizon was thicker than previously encountered and more pyrite impregnation was observed in the underlying rhyolite. Drill cuttings for all three holes are being sent to a laboratory for assay, which will determine whether this horizon contains gold compatible with that reported for OMRC006 and OMRC005 last year.
Great Western Chairman Brian Hall commented: “At both Rock House and Trafalgar Hill, the desk work we have done since our 2021 drill campaign seems to be paying off as, subject to lab analysis, our step-out drilling appears to be supporting our prognoses. This is a busy and exciting time for the Company. The rig is still at the Olympic Gold Project and currently drilling in the vicinity of the former, prolific OMCO Mine. We will provide an update on the OMCO programme as soon as complete.”
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 (CP) who is Exploration Manager of Great Western Mining PLC. Dr Blight has requisite 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’. Dr Blight is also 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
Notes to Editors
The Company has a large acreage position in Mineral County, Nevada. The area consists of rugged, and in parts 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) shorter term gold and silver deposits and (2) longer 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 is generally considered to be one of the world’s most mining friendly jurisdictions. 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.
Furthermore, through extensive drilling over a five-year period, GWM has established a Mineral Resource, partly Inferred and partly Indicated, 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.
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