REG - Great Western Mining - West Huntoon Survey Results

Great Western MiningAnnouncement

24/06/2024 07:00

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RNS Number : 4728T  Great Western Mining Corp. plc  24 June 2024

GREAT WESTERN MINING CORPORATION PLC

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

 

WEST HUNTOON SURVEY RESULTS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW)
announces positive results of induced polarisation ("IP") and resistivity
surveys at its West Huntoon copper prospect.

 

Highlights

 

·    Three new chargeability anomalies identified at West Huntoon.

·    Two anomalies are associated with known surface mineralisation
indicators and a magnetic high.

·    One anomaly occurs under valley sediments to the northeast, not
previously identified as a prospective area.

·    The two largest anomalies are both over 1400 m long, are open and
increase in intensity and size towards their open direction.

·    Thirteen new claims staked.

 

Great Western Chairman Brian Hall commented: "West Huntoon is part of the
Huntoon Copper Project where we have already carried out extensive drilling
and established a resource in the northeast sector at M2.  In addition, at M4
to the southeast, initial drilling identified a further copper anomaly and we
have in the past drilled a single hole at West Huntoon with strong copper
indications.

 

"An independent specialist last year confirmed evidence of a porphyry setting
at West Huntoon and our challenges are, firstly, to determine the extent of
this prospective zone where it disappears under tertiary volcanics cover in
the hills and recent sediments in the Huntoon Valley and, secondly, to
establish if there is linkage across the Huntoon Valley between the West
Huntoon porphyry, M4 and the skarn resource at M2.  An IP survey is a
sophisticated geophysical tool which enables us to map the area and pinpoint
next stage drill locations.  The results are extremely encouraging."

 

Introduction

An induced polarisation/resistivity (IP) survey has recently been completed at
the West Huntoon prospect in Mineral County, Nevada, leading to the
identification of several chargeability anomalies which can be clearly related
to surface indications of mineralisation already established through soil
sampling and mapping.

 

Previous work at West Huntoon

 

Prior to the 2023 field season, Great Western conducted reconnaissance soil
sampling, drone magnetometry and orthophotography surveys at West Huntoon,
also drilling a single RC hole in the vicinity of surface copper showings.
 These steps identified positive anomalies or intercepts and in 2023 The
Company embarked on a programme of detailed field mapping.  This led to the
discovery of a previously unmapped area of granite with significant
porphyry-related textures which has since been independently verified. Infill
soil sampling confirmed an area of 2 km(2) surrounding the granite which is
broadly anomalous for copper.

IP results

The recently completed IP survey has detected two anomalies (designated WH‑A
and WH-B) relating to the known surface features. A third, stronger anomaly
(designated WH-C) is located under valley fill sediments near to the
range-front fault which occurs between the mountains and the valley floor in
the northeastern part of the claims.

 

1.    Anomaly WH-A, which occurs on Lines 1, 2 and 3, has a strike length
of 1400 m, a maximum width of 370 m and coincides both with the surface copper
showings and strongest copper-in-soils anomalies, as well as with a strong
linear magnetic anomaly previously detected by Great Western's drone
magnetometry survey, flown in early 2022. The chargeability anomaly
strengthens, grows and plunges, reaching a peak strength on Line 1 in the
southwest beyond which it is open.

The location of WH-A on Line 2 is around 150 m from the best drill intercept
in CPGW_1, the sole drillhole in the copper zone at West Huntoon (45.7 m @
0.27% Cu from 35.1 m in hole, including 7.6 m @ 0.72% Cu, 9.1 m @ 0.30% Cu and
6.1 m @ 0.34% Cu).

2.    Anomaly WH-B on Line 2, a second anomaly of a similar cross-sectional
area, intensity and elevation as at WH-A, occurs around 350 m to the northwest
and has a corridor of chargeability extending towards surface. This zone is
again associated with northern parts of the copper-in-soils anomalies.

3.    Anomaly WH-C lies under the edge of the Huntoon Valley sediments,
northeast of and directly adjacent to the anomalous copper zone in the West
Huntoon hills. The anomaly occurs on lines 3, 4 and 5 and again has a minimum
strike length of 1400 m, strengthening and growing to the northeast in the
direction of the M2 resource. The anomaly reaches a peak strength in Line 5,
where it is also at its largest and beyond which it is open.

 

Resistivity Results

Lines 1, 2 and 3 have various elevated resistivity zones. The Line 3
resistivity profile indicates a zone of elevated resistance within the West
Huntoon granite and its host rocks. This is likely to relate to quartz veining
and silicification  in and around the granite. The resistivity zones on Lines
1 and 2, which are adjacent to chargeability anomalies, are also likely to
represent veining and silicification. The resistivity zone on Line 1 in the
southwest is substantial and overlaps partially with the strengthening
chargeability anomaly in this area.

 

Great Western has recently staked thirteen further claims in the West Huntoon
area.

 

 

 

 

 

Survey Technical Notes

All survey and data processing work were carried out on behalf of GWM by Zonge
International. Data at West Huntoon were acquired using the dipole-dipole
array configuration with an a-spacing of 100 m. The grid comprises five lines
of various lengths and line spacing for a total of 11.5 line-kilometres of
data coverage.

 

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 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,                                                                                                              +44 207 933 8780
 Chairman
 Max Williams, Finance                                                                                                    +44 207 933 8780
 Director

 Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker)

 Brian Garrahy

                                                                                                                          +353 1 679 6363

 SP Angel (Joint Broker)

 Ewan Leggat                                                                                                              +44 203 470 0470

 Walbrook PR (PR advisers)

 Nick Rome/Joe                                                                                                            +44 207 933 8783
 Walker

 

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.

 

The Company's properties are all in Mineral County, Nevada and are 100% owned
and operated.   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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