From walbrook19 Feb 2018 18:49
means of providing a bit more clarity re the impact of Friday's announcement and our ongoing work programme please see some further information below.
As you are now aware we have withdrawn the announcements relating to WT Cohan & Associates' Technical Scoping Study dated 10 October 2017 and 12 June 2017. However, this has no impact on our earlier JORC Report of November 2014 from independent consultant Donald G Strachan. This report contains a JORC compliant estimate of Inferred Resources at two cut-off grade's: at a 0.15% cut-off 3,668,352 tonnes of 0.44% Cu containing 16,067 tonnes of copper, and at 0.05% cut 0ff 19,656,265 tonnes of 0.12% Cu containing 23,636 tonnes of copper. This report is available on the company's website in the Expert Reports section, and can also be accessed via the link below:
http://www.greatwesternmining.com/Content/FileManager/Announcements/2017/141120_jorc_on_phs02_m2_marietta.pdf
The current M2 infill drill programme is based on the recommendations of Strachan's 2014 JORC report (as per the link above) and continues on time and budget. In addition, the Company continues to work on Sharktooth assumptions re mapping and structures as per this report.
The M4 programme is again based on recommendations contained in Strachan's 2012 M4 (Target 4) report which is also on our website and can be seen here:
http://www.greatwesternmining.com/Content/FileManager/Announcements/2017/m4-phase-1-exploration-results-augustr-2014.pdf
At this stage while there is no further information regarding the Cohan report, management remains focused on completing the current M2-Sharktooth work programme, which is based on previously defined geological models and estimates. The company remains confident in the potential of the M2-Sharktooth prospect.
Nick Rome
Senior Associate
D: +44 (0) 20 7933 8783
M: +44 (0) 7748 325 236
nick.rome@walbrookpr.com