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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Great Western Mining Corporation Plc | LSE:GWMO | London | Ordinary Share | IE00B1FR8863 | ORD EUR0.0001 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.002 | -4.82% | 0.0395 | 0.039 | 0.04 | 0.0415 | 0.0395 | 0.0415 | 36,110,885 | 13:29:42 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Metal Mining Services | 0 | -792k | -0.0002 | -2.00 | 1.43M |
TIDMGWMO
RNS Number : 4758C
Great Western Mining Corp. plc
23 February 2022
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
MINERAL JACKPOT
GRAB SAMPLING RESULTS FROM SPOIL HEAPS
Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) which is exploring and developing gold, silver and copper targets in Nevada announces the results of recent spoil heap material sampling at the Mineral Jackpot claim group.
HIGHLIGHTS
-- Assay results from sampling of 51 spoil heaps
-- Average grades of vein material 1.57 g/t Au (range 0.003 - 21.17 g/t Au) and 327 g/t Ag (range 0.8 - 4988 g/t Ag).
-- Average grades of altered wall rock 0.04 g/t Au (range 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (range 0.4-103.00 g/t Ag).
-- Spoil heaps composed of average 5% vein material and 50% altered wall rock
ASSAY RESULTS AND SPOIL HEAPS COMPOSITION
GWM's Mineral Jackpot claim group has seen considerable mining activity in the past, with several high-grade veins worked both at surface and underground for gold and silver. There is a substantial quantity of waste material remaining at surface around these workings in the form of spoil heaps and initial assay results have now been received from these heaps.
In total 51 mineralised spoil heaps have now been located at Mineral Jackpot, typically composed of three main types of material, being vein, altered granite host-rock and unaltered granite. Two composite samples were collected from each pile, one of vein rock and one of altered host. The proportional content of each pile or sampling location was then visually assessed. Sampling of the vein and altered granitic host-rock material was carried out in an unbiased manner and was random, not selective. These results are intended to provide an initial guide only to the general nature of the material and not an estimate of the contained mineralisation.
The assay results received are set out in Table 1, along with the portions of vein, altered granite and unaltered granite in each heap.
Vein material was identified in all but two of the heaps, with median grades of 1.57 g/t Au (with a range of 0.003 - 21.17 g/t Au) and 327 g/t Ag (with a range of 0.8 - 4988 g/t Ag). Altered granite occurs in all but two of the heaps, with median grades of 0.04 g/t Au (with a range of 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (with a range of 0.4-103.00 g/t Ag).
The results have led to a prioritisation of selected heaps for follow-up. The next step will be to perform representative sampling of those heaps considered most favourable by size and content and to calculate accurate volumes for the heaps, using a detailed orthophotography survey which will be carried out in the near future.
These measurements are expected to provide sufficient information for completion of a resource estimate.
Table 1 . Composition proportion and assay results of Mineral Jackpot spoil heaps. Heap size will be assessed by a detailed orthophotography survey of the ground in the near future. Note: unaltered granite material was not sampled.
Spoil Spoil Heap Composition Vein Assay Altered Granite Heap ID Visual Assessment Assay (%) --------- -------------------- -------------------- Vein Alt. Unalt. Au (ppm) Ag (ppm) Au (ppm) Ag (ppm) granite granite --------- ----- --------- --------- --------- --------- --------- --------- 1-a 1 29 70 0.079 24.2 0.041 13.5 ----- --------- --------- --------- --------- --------- --------- 1-b 3 60 37 0.093 29.8 0.018 15.5 ----- --------- --------- --------- --------- --------- --------- 1-c 1 69 30 0.023 8.7 0.030 12.4 ----- --------- --------- --------- --------- --------- --------- 1-d 5 80 15 6.510 2423.0 0.091 33.9 ----- --------- --------- --------- --------- --------- --------- 2-a 30 50 20 0.624 372.0 0.059 88.8 ----- --------- --------- --------- --------- --------- --------- 2-b 3 97 0 0.633 589.0 0.025 13.7 ----- --------- --------- --------- --------- --------- --------- 2-c 5 95 0 1.259 127.0 0.036 5.0 ----- --------- --------- --------- --------- --------- --------- 5 3 77 20 1.574 49.8 0.106 14.9 ----- --------- --------- --------- --------- --------- --------- 6 20 60 20 1.273 666.0 0.037 21.3 ----- --------- --------- --------- --------- --------- --------- 3 20 50 30 1.046 500.0 0.050 90.8 ----- --------- --------- --------- --------- --------- --------- 4-a 20 80 0 1.285 368.0 0.029 14.8 ----- --------- --------- --------- --------- --------- --------- 4-b 10 90 0 0.319 201.0 0.022 25.7 ----- --------- --------- --------- --------- --------- --------- 7 30 50 20 0.628 433.0 0.023 32.8 ----- --------- --------- --------- --------- --------- --------- 8 95 5 0 1.244 613.0 0.156 103.0 ----- --------- --------- --------- --------- --------- --------- 9 25 35 40 4.155 1358.0 0.099 67.2 ----- --------- --------- --------- --------- --------- --------- 10 40 60 0 3.326 935.0 0.036 28.9 ----- --------- --------- --------- --------- --------- --------- 12 30 45 25 5.080 1507.0 0.075 32.2 ----- --------- --------- --------- --------- --------- --------- 14 2 58 40 4.762 4988.0 0.028 31.5 ----- --------- --------- --------- --------- --------- --------- 16 1 90 9 2.945 1214.0 0.038 12.9 ----- --------- --------- --------- --------- --------- --------- 20 0 1 99 n/a n/a 0.009 0.4 ----- --------- --------- --------- --------- --------- --------- 22 0 20 80 n/a n/a 0.011 1.8 ----- --------- --------- --------- --------- --------- --------- 26 5 65 30 0.272 101.0 0.123 33.7 ----- --------- --------- --------- --------- --------- --------- 11 3 70 27 0.041 11.6 0.019 7.2 ----- --------- --------- --------- --------- --------- --------- 15-a 20 45 35 1.324 580.0 0.024 16.3 ----- --------- --------- --------- --------- --------- --------- 15-b 20 45 35 4.272 1673.0 0.041 42.4 ----- --------- --------- --------- --------- --------- --------- 17 1 30 69 0.070 26.5 0.041 7.7 ----- --------- --------- --------- --------- --------- --------- 18-a 2 70 28 0.819 62.4 0.026 13.1 ----- --------- --------- --------- --------- --------- --------- 18-b 3 97 0 10.580 2130.0 0.068 34.4 ----- --------- --------- --------- --------- --------- --------- 19 15 65 20 4.694 543.0 0.041 24.2 ----- --------- --------- --------- --------- --------- --------- 21 30 50 20 6.550 1421.0 1.094 103.0 ----- --------- --------- --------- --------- --------- --------- 23-a 2 88 10 7.850 747.0 0.047 44.4 ----- --------- --------- --------- --------- --------- --------- 23-b 1 30 69 1.916 659.0 0.022 10.1 ----- --------- --------- --------- --------- --------- --------- 23-c 30 20 50 4.372 736.0 0.028 13.0 ----- --------- --------- --------- --------- --------- --------- 23-d 20 50 30 2.740 1062.0 0.071 20.3 ----- --------- --------- --------- --------- --------- --------- 23-e 1 59 40 0.059 18.3 0.020 1.1 ----- --------- --------- --------- --------- --------- --------- 28 20 50 30 2.317 83.0 0.032 1.9 ----- --------- --------- --------- --------- --------- --------- 27 4 86 10 0.707 7.2 0.024 1.0 ----- --------- --------- --------- --------- --------- --------- 33 4 20 76 9.220 976.0 0.023 6.8 ----- --------- --------- --------- --------- --------- --------- 34-a 10 40 50 0.559 38.9 0.062 26.1 ----- --------- --------- --------- --------- --------- ---------
34-b 96 2 2 3.438 240.0 0.183 35.4 ----- --------- --------- --------- --------- --------- --------- 34-c 100 0 0 7.620 105.0 n/a n/a ----- --------- --------- --------- --------- --------- --------- 32 20 30 50 5.050 327.0 0.083 9.6 ----- --------- --------- --------- --------- --------- --------- 30 5 65 30 18.390 1019.0 0.249 15.5 ----- --------- --------- --------- --------- --------- --------- 29 1 80 19 0.158 8.5 0.049 7.4 ----- --------- --------- --------- --------- --------- --------- 36-a 1 29 70 0.054 3.6 0.077 2.5 ----- --------- --------- --------- --------- --------- --------- 36-b 1 29 70 0.665 27.3 0.207 3.0 ----- --------- --------- --------- --------- --------- --------- 35 2 28 70 10.500 224.0 0.077 10.6 ----- --------- --------- --------- --------- --------- --------- 38-a 10 1 89 2.290 46.5 0.010 0.9 ----- --------- --------- --------- --------- --------- --------- 38-b 15 10 75 21.170 198.0 0.068 4.2 ----- --------- --------- --------- --------- --------- --------- 38-c 20 30 50 19.770 251.0 0.063 6.2 ----- --------- --------- --------- --------- --------- --------- 39 100 0 0 0.003 0.8 n/a n/a ----- --------- --------- --------- --------- --------- --------- Max 100 97 99 21.170 4988.0 1.094 103.0 ----- --------- --------- --------- --------- --------- --------- Median 5 50 30 1.574 327.0 0.041 14.8 ----- --------- --------- --------- --------- --------- --------- Min 0 0 0 0.000 0.8 0.010 0.4 ----- --------- --------- --------- --------- --------- ---------
Great Western Chairman Brian Hall commented: "These Mineral Jackpot results are highly encouraging, indicating a broad distribution of mineralised material throughout the spoil heaps, with locally some very high grades of both gold and silver. We are now in a position to prioritise the largest and richest spoil heaps for use in the next phase of commercialising this significant asset."
Competent 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.
MARs Statement: This press release contains inside information as defined in Article 7(1) of the Market Abuse Regulations.
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 Adviser & Joint Broker) John Frain +353 1 679 6363 Novum Securities (Joint Broker) Jon Belliss +44 207 399 9400 Walbrook PR (PR advisers) Nick Rome/Nicholas Johnson +44 207 933 8783
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 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 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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