Great Western Mining Corp. plc Mineral Jackpot-Silver Moon-Silver Bell Trend (4550A)

TIDMGWMO

RNS Number : 4550A

Great Western Mining Corp. plc

29 May 2019

Great Western Mining Corporation PLC

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

Mineral Jackpot-Silver Moon-Silver Bell Trend

Great Western Mining (AIM: GWMO; Euronext Growth: 8GW) is pleased to announce the first results of its Spring 2019 field programme in Mineral County, Nevada.

In 2018, 66 new claims were added to the Eastern flank of the Black Mountain Group to incorporate the historic Silver Moon and Silver Bell mines into Great Western Mining's land holdings. Both prospects were inspected and sampled by GWM geologists during April this year who have concluded that the mineralisation styles in both areas strongly resembles that encountered at the Mineral Jackpot/Bass Mine prospect ("M3") 750 metres to the West.

Rock chip samples were taken, consisting of rock chip fragments 1-5 kg in weight, hammered from the outcropping veins. These samples were submitted to an accredited assay laboratory in Reno, Nevada, for ICP-ES and fire assay analysis.

Significant (>0.1 g/t Au) precious metal mineralisation was encountered in six of the eight samples taken from the Silver bell - Silver Moon area in April, (see Table 1), including 95.6 g/t Au and 773 g/t Ag.

Table 1 Rock Chip Assay Results from Silver Moon and Silver Bell 2019

 
   X         Y       Location     Au (g/t)   Ag (g/t) 
                    Silver Bell 
 375354   4228413     Prospect      0.66        3 
         --------  ------------  ---------  --------- 
 375421   4228558                  15.20        97 
         --------  ------------  ---------  --------- 
                    Silver Moon 
 375801   4229072     Prospect     0.0025       2 
         --------  ------------  ---------  --------- 
 375838   4229255                  95.60       773 
         --------  ------------  ---------  --------- 
 375849   4229250                   1.33        5 
         --------                ---------  --------- 
 375805   4229245                   0.07        1 
         --------                ---------  --------- 
 375642   4229014                   1.54        33 
         --------                ---------  --------- 
 375599   4229034                   0.27        5 
         --------  ------------  ---------  --------- 
 

Great Western Mining believes that the Silver Moon - Silver Bell - Mineral Jackpot vein occurrences represent a single mineralising event, evidenced by the common granitic host lithology, the precious metal Au-Ag signatures and the vein orientation and styles. The assay grades seen in the recent sampling, coupled with previous rock chip sample data taken from the Mineral Jackpot area in the second half of 2018, (see Table 2), indicate a significant mineralisation event.

Table 2. Rock Chip sample Results from Mineral Jackpot 2018

 
   X         Y      Location    Au (g/t)   Ag (g/t) 
                     Mineral 
                     Jackpot 
 374496   4229414    Prospect     1.84       472 
         --------  ----------  ---------  --------- 
 374483   4229451                 0.02        6 
         --------  ----------  ---------  --------- 
 374483   4229448                 0.31       121 
         --------              ---------  --------- 
 374446   4229403                 0.01        7 
         --------              ---------  --------- 
 374602   4229286                 0.01        2 
         --------              ---------  --------- 
 374612   4229282                 0.01        6 
         --------              ---------  --------- 
 374610   4229199                 0.04        66 
         --------              ---------  --------- 
 374734   4228768                19.10       550 
         --------              ---------  --------- 
 374656   4228844                 0.05        5 
         --------              ---------  --------- 
 374589   4228804                 0.01        1 
         --------              ---------  --------- 
 374705   4228697                 0.01        1 
         --------  ----------  ---------  --------- 
 

The assay grades seen in the recent sampling, coupled with previous rock chip sample data taken from the Mineral Jackpot area, indicate that significant mineralisation is present across an area of at least 2 km(2) . The Company is planning a follow up soil sampling programme to investigate the potential presence of further vein mineralisation not previously identified.

Chief Executive, David Fraser commented: "This is a very exciting development for Great Western Mining. The Mineral Jackpot (M3) prospect encompassing the Silver Moon and Silver Bell targets covers a large area with high grade gold and silver potential. The Company will now follow up on these excellent results with further soil sampling to identify targets for a first drill campaign at M3. As always we will keep shareholders updated as news becomes available."

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: g/t = grams per ton.

1 g/t = 1 ppm (parts per million)

ENQUIRIES:

 
  Great Western Mining     [phone] (via Walbrook)           [phone] (via Walbrook) 
    Corporation PLC 
    David Fraser, Chief 
    Executive 
  Davy (Nomad, Euronext 
    Growth Adviser & Broker) 
    John Frain                   [phone] 
    Matthew De Vere White 
 
    Novum Securities Limited 
    (Joint Broker) 
    Jon Belliss                   [phone]                   [phone] 
  Walbrook PR (UK PR and     [phone] 
    IR)                        [e-mail] 
    Paul Cornelius 
    Nick Rome 
                                                                     [phone] 
                                                                      [e-mail] 
 

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May 29, 2019 04:47 ET (08:47 GMT)