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Market Cap: £13.43m
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EM Group Update

2 Aug 2019 11:45

RNS Number : 7576H
Great Western Mining Corp. plc
02 August 2019
 

Great Western Mining Corporation PLC

 

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

 

EM Group Update

 

Having now received the XRF soil results from ALS Geochemistry's laboratory in Reno and the ICP-AES grab samples from Bureau Veritas Inspectorate's laboratory in Reno, Great Western Mining (AIM: GWMO; Euronext Growth: 8GW) now provides the following update on the EM Group ("M8") fieldwork conducted in June 2019.

Analysis of the soil samples has identified two strong trends of copper anomalism, centred along the two fault corridors previously recognised during the geological mapping exercise, Figure 1. http://www.rns-pdf.londonstockexchange.com/rns/7576H_1-2019-8-2.pdf The copper anomalies are most pronounced atop pre-tertiary basement lithologies (slates and siltstones), which are postulated to be horst blocks, within a NE-SW basin and range type setting.

Grab samples were also taken during the mapping phase with encouraging results, including 0.39% Cu, Table 1, in the vicinity of the northern fault corridor, along with anomalous molybdenum and zinc readings. Zinc appears to ring the copper anomalies and was seen in both the grab samples and the soil samples, suggesting a metal zonation around the target area. Elevated molybdenum, a common associated metal in porphyry copper systems, is coincident with elevated copper in the northern half of the lower fault block.

Table 1 Results for copper, molybdenum, and zinc, from the 34 grab samples conducted at EM Group, June 2019. Anomalous results >0.1% (>1000ppm) shown in bold.

Sample Easting (NAD83 metre)

Sample Northing (NAD83 metre)

Cu (ppm)

Mo (ppm)

Zn (ppm

 384,987

 4,217,498

70

130

50

 384,946

 4,217,476

50

10

50

 385,237

 4,218,045

150

5

50

 384,960

 4,218,133

5

5

50

 384,819

 4,217,986

580

940

50

 384,813

 4,217,985

610

150

50

 384,846

 4,217,986

270

150

50

 384,794

 4,217,983

30

70

50

 384,130

 4,218,370

3960

5

100

 384,274

 4,218,425

5

5

50

 384,301

 4,218,442

10

5

50

 384,397

 4,218,458

10

5

50

 384,305

 4,218,562

5

5

50

 383,930

 4,217,673

210

50

200

 384,555

 4,217,556

5

20

50

 384,879

 4,217,816

330

80

50

 384,887

 4,217,822

70

80

50

 383,933

 4,217,674

120

140

100

 384,874

 4,217,815

170

5

50

 384,885

 4,217,819

150

150

50

 383,842

 4,216,933

100

5

1100

 383,944

 4,216,944

100

5

1300

 383,503

 4,217,857

10

5

50

 383,464

 4,217,958

220

5

100

 383,790

 4,217,904

120

10

50

 383,865

 4,217,906

30

5

50

 383,868

 4,217,876

30

40

50

 383,874

 4,217,866

60

30

50

 383,846

 4,217,799

5

5

50

 383,866

 4,217,936

20

90

50

 383,898

 4,218,014

20

10

50

 384,055

 4,218,168

30

5

50

 384,190

 4,218,142

40

40

50

 384,180

 4,218,115

60

30

50

 

GWM is encouraged by the results of both the initial soil sampling programme and the grab sampling programme. The next phase of exploration work at M8 will be an infill soil programme centred on and around the two fault blocks, which will better define the trends seen in the current broad spaced pattern. Following this programme, an Induced Polarisation and Resistivity survey ("IP survey") will be conducted on top of and along strike of the main copper trends, the objective being to identify sulphide targets which may be blind to surface mapping and geochemical sampling techniques.

 

Chief Executive David Fraser commented: "The results of the soil and grab sample programme at M8 confirm GWM's initial assessment suggesting a potential buried copper porphyry. The Company will now quickly move forward with a more targeted soil programme and IP survey to identify targets for drilling. As always we will keep shareholders updated as work continues."

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: ppm = parts per million

ENQUIRIES:

 

Great Western Mining Corporation PLC

David Fraser, Chief Executive

 

+44 207 933 8795 (via Walbrook)

Davy (Nomad, Euronext Growth Adviser & Broker)

John Frain

Matthew De Vere White

 

+353 1 679 6363

 

Novum Securities Limited (Joint Broker)

Jon Belliss

 

+44 207 399 9400

Walbrook PR (UK PR and IR)

Paul Cornelius

Nick Rome

+44 207 933 8795

greatwesternmining@walbrookpr.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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