Great Western Mining Corp. plc Geophysical Survey at West Huntoon and M5

RNS Number : 0976K

Great Western Mining Corp. plc

11 April 2024

 

GREAT WESTERN MINING CORPORATION PLC

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

 

 

GEOPHYSICAL SURVEY AT WEST HUNTOON AND M5

 

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) reports the commencement of induced polarisation (IP) and resistivity surveys at its West Huntoon and M5 claims in Mineral County, Nevada.   

 

HIGHLIGHTS

·    IP and resistivity surveys are currently being carried out at the West Huntoon copper porphyry prospect and the M5 gold-silver-copper prospect, following successful field exploration in 2023.

·    Surveys will provide information about the subsurface for drill targeting at both prospects.

·    Both surveys are expected to be completed during April.

 

Great Western Chairman Brian Hall commented:  "These surveys mark the start of our 2024 work season in Nevada, with an initial focus on the highly prospective copper porphyry at West Huntoon which was established  last year.  We have a variety of interesting exploration targets on our claims but are particularly excited about the West Huntoon prospect.  We are looking forward to a busy work season and will report to shareholders on a timely basis." 

 

Survey Team Deployed

 

Great Western has commissioned Zonge International to conduct induced polarisation (IP) and resistivity surveys across two of its exploration projects in the Marietta area. In the past few days, a Zonge survey team has commenced work on the West Huntoon claims to conduct IP profiles across the copper porphyry mineralisation which outcrops there.  When complete, the team will move to the M5 gold-silver-copper prospect in the Jack Springs (JS) claim group. All survey work is expected to be completed during April.

 

Background information

 

The survey work is expected to identify chargeability and resistivity anomalies which can be interpreted as representing zones of disseminated sulphide mineralisation and silicification. The results of this work will be used to  improve the geological model and plan drill targets at both prospects.

West Huntoon

 

At West Huntoon, on the west side of the Huntoon Valley, 2023 geological work has indicated the presence of a copper porphyry system. This was established by (1) the identification of a 2 km² area of copper in soils anomaly, open in several directions under tertiary cover, (2) significant copper oxide showings at outcrop and (3) a mineralised granite intrusion showing textures consistent with hydrothermal fluid release. The objective of the survey work is to identify the best drill targets in this area of rich surface indicators and to investigate further potential in areas covered by tertiary volcanics. 

 

M5

The M5 prospect is a mafic intrusion in limestones and rhyolites, located in the southeastern part of the Jack Springs (JS) claim group. Mineralisation is associated with the alteration zone surrounding the intrusion and the core of the prospect forms a prominent northeast trending ridge, standing proud of the surrounding lavas. Soil sampling in 2023 indicated continuation of elevated gold and copper values to the northeast under tertiary cover. The surveys will test the main part of the soils anomaly over the M5 ridge line and seek to identify additional drill targets under tertiary cover to the northeast.

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 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	[phone]
Max Williams, Finance Director	[phone]
Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker) Brian Garrahy	[phone]
SP Angel (Joint Broker) Ewan Leggat	[phone]
Walbrook PR (PR advisers) Nick Rome/Joe Walker	[phone]

 

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 is 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. 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 also established an Inferred Resource Estimate of 31,000 tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings associated with the OMCO Mine at the Olympic Gold Project.  Additionally, exploration targets have been independently reported 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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