Share Name Share Symbol Market Type Share ISIN Share Description
Great Western LSE:GWMO London Ordinary Share IE00B1FR8863 ORD EUR0.0001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.575p 0.55p 0.60p 0.60p 0.575p 0.575p 2,869,657 12:51:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.6 0.0 - 3.90

Great Western Mining Corp. plc M2-Sharktooth Update and Assay Results

30/08/2018 7:00am

UK Regulatory (RNS & others)


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Great Western Mining Corp. plc

30 August 2018

Great Western Mining Corporation PLC

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

M2-Sharktooth Update and Assay Results

Great Western Mining (AIM: GWMO and ESM: 8GW) announces assay results for the M2-041 core samples from 450-509 metres (1480 to 1671 feet).

Anomalous copper, nickel and cobalt geochemistry was recorded toward the bottom of the hole which was coincident with the observed increasing silica alteration and magnetic intensity. The Company believes this to be a strong indicator of (1) the multiple hydrothermal flooding events observed in the altered breccia and (2) the proximity of the mineralised diorite host rock below. The significant M2-041 intersects are highlighted in the table below:

 
 Hole      From        To          Interval    Copper (Cu)   Nickel   Cobalt (Co) 
                                                              (Ni) 
            (metres)    (metres)    (metres)    (ppm)         (ppm)    (ppm) 
 M2-041    486.46      488.14      1.68        5515          1742     29 
          ----------  ----------  ----------  ------------  -------  ------------ 
 

Hole M2-042 was spudded on Monday 27 August 2018. It is located 183 metres west of, and up the structural dip from, hole M2-041 and is projected to intersect with the mineralised diorite at a depth of approximately 360 metres.

As previously reported, drilling through the caprock and breccia at M2-041 proved to be slower and more difficult than anticipated. Therefore, the Company has introduced several operational changes at M2-042, including a night shift, to speed up the rate of drilling and improve performance.

Chief Executive David Fraser commented: "The mineralogic and assay data from the bottom of M2-041 is very encouraging and a good indicator that our geological model remains valid. We are confident that our operational changes will greatly improve drilling performance at M2-042 and look forward to reaching the mineralised diorite target. As always we will keep shareholders updated as and when relevant information becomes available."

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").

Note: ppm = parts per million

ENQUIRIES:

 
  Great Western Mining     +44 207 933 8795 (via Walbrook) 
    Corporation PLC 
    David Fraser, Chief 
    Executive 
  Davy (Nomad, ESM Adviser 
    & Broker) 
    John Frain                   +353 1 679 6363 
 
 
    Novum Securities Limited 
    (Joint Broker) 
    Jon Belliss                   +44 207 399 9400 
  Walbrook PR (UK PR and     +44 207 933 8795 
    IR)                        greatwesternmining@walbrookpr.com 
    Paul Cornelius 
    Nick Rome 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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