RNS20 May 2021 08:09
Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) ("Great Western" or the "Company") which is exploring and developing early-stage gold, silver and copper targets in Nevada, provides the following progress report on its multi-prospect 2021 drilling campaign for gold and silver in Mineral County, Nevada.
The Company's ongoing drilling programme continues apace and within budget. The first phase of the 2021 programme is the Olympic Gold Project, over which the Company acquired a purchase option in 2020, formally extended for a second year with effect from 21 May 2021. Commencing last month, the Company has now successfully completed its initial 6-hole programme at the Trafalgar Hill prospect. Following this, the rig was moved to the West Ridge prospect where Hole OMRC-7 was drilled and completed, then to the OMCO Mine extension prospect where hole OMRC-8 has also been completed, both with encouraging results.
West Ridge (OMRC-7)
The target at West Ridge was a quartz-adularia epithermal style vein deposit, similar to the nearby Olympic Vein at the long-abandoned OMCO Mine which produced prolific quantities of gold at high grades until the 1940s. OMRC-7 intercepted moderate to strong argillic alteration within a rhyodacite unit from surface to a depth of 115 feet (35.1 metres) down hole. This was followed by a zone of strong silicification down to 160 feet (48.8 metres). Within the silicified rhyodacite, vuggy quartz veining was logged between 140 feet (42.7 metres) and 150 feet (45.7 metres) downhole, which is expected to correlate with the mapped veins on surface that were successfully mined in the past. Beneath the veining, further strong argillic alteration occurs in conjunction with an increase in metal sulphides until the end of the hole at 500 feet (152.4 metres).
OMCO Mine Extension (OMRC-8)
OMRC-8 was drilled to the south of the old OMCO Mine, targeting a projected southerly extension of the Olympic vein on the western side of the OMCO fault. The drill hole intercepted argillic alteration from surface, which transitioned into strong silification from 45 feet (13.7 metres) down hole. From 45 feet (13.7 metres) to 100 feet (30.5 metres), silicification was accompanied by vuggy quartz veining and micro comb quartz intervals. Beneath this, further argillic alteration was encountered throughout the hole, interspersed with silicification and disseminated metal sulphides, until the end of hole at 395 feet (120.4 metres). It is currently projected that the zone of quartz veining intercepted between 45 feet (13.7 metres) and 100 feet (30.5 metres) is analogous to the Olympic Vein along strike to the northwest, and could well mark its southerly continuation.
The rig has now been moved to the eastern side of the OMCO fault, to continue the OMCO Mine extension drill programme over anomalies identified by a magnetometer survey conducted in 2020. Three further holes in this zone will complete the initial Olympic Go
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