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EM Group Update

26 Jul 2019 07:00

RNS Number : 7865G
Great Western Mining Corp. plc
26 July 2019
 

Great Western Mining Corporation PLC

 

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

 

EM Group Update

 

Great Western Mining (AIM: GWMO; Euronext Growth: 8GW) is pleased to provide the following update on its 2019 field programme in Mineral County, Nevada.

 

Following the significant identification of the Golconda-Candelaria fault system intersecting the Company's southernmost group of claims, as reported to shareholders on 26 June 2019, a three-week field work programme was successfully undertaken in June, focusing on the EM Group ("M8").

 

The programme consisted of:

·; Geological mapping over the entire 5.36 km2 EM claims area

·; Taking 180 soil samples at a spacing of 150mx150m for analysis.

·; Taking 34 rock grab samples

 

At M8 copper oxide and iron oxide mineralisation are hosted in quartz veins at surface. Veins vary in form and include 0.15m - 1.0m thick massive veins with observable strikes over 400m. Centimetre-scale densely stock-worked quartz veining, commonly associated with intensely silicified host rock, are present, together with millimetre scale comb quartz veining. Mineralisation textures include disseminations and seams of copper oxides and iron oxide staining within massive quartz veins, as well as breccia textures with clasts of quartz and host sediment in a matrix of copper and iron oxide. The most extensive vein sets correspond with large scale faulting in the district and seven district scale faults have been mapped at the EM Group. All are predominantly NE-SW trending with a few E-W striking intersections. An early stage structural and mineralogical synthesis has highlighted the immediate prospectivity of two faults:

 

·; The first fault has a 3.0 km NE-SW strike length within the EM Claims. The entire surrounding area along the fault is densely veined with > 400m long 1m wide copper oxide, bearing massive quartz veins and breccia veins in intensely silicified slates. The lineation directly overlies the identified Golconda-Candelaria Fault line seen in aeromagnetic surveys.

·; The second fault has a 2.8 km NE-SW strike length within the EM Claims, parallel to the first fault and separated by 1 km. This faulted contact is also seen in GWM's RH group of claims whereby it is synonymous with the Golconda-Candelaria Fault which has been identified from aeromagnetic surveys and mineralised veining mapped at surface. The stratigraphic relationship makes this fault a key component of the Golconda-Candelaria Fault system.

 

Between April 1972 and April 1973 Conoco Inc. conducted a geological mapping, geochemical sampling and geophysical survey of their "Eastside Project" claims, now GWM's EM Group Claims. Conoco's studies showed Copper-Molybdenum-Lead-Zinc geochemical anomalies and encouraging sulphide bearing alteration haloes, leading Conoco to hypothesise a buried intrusive "porphyry type" deposit at depth. Six holes were drilled by Conoco to follow up on these observations, the deepest being 488 metres. Conoco reported intersects of "11ft (3.4m) @ 1.5% Cu from 158ft (48m)" and "11ft @ 0.18% Cu from 169ft (52m)" in hole ES-5; as well as "21ft (6.5m) @ 0.16% Cu from 9ft (3m)" and "70ft (21m) @ 0.14% Cu from 70ft" in hole ES-6. Great Western Mining is continuing to conduct background research into Conoco's historical activity and data set. GWM's new findings and its better understanding of the EM Group are allowing it to focus more specifically on prospective targets.

 

Following analysis and interpretation of the soil and grab sample assay results, GWM will undertake further refined soil sampling at a reduced grid spacing close to any anomalies encountered in the recently completed soils programme, with the aim of more precisely defining the position of anomalous mineralised bodies. An Induced Polarisation and Resistivity ("IP/RES") survey is also planned across the Golconda-Candelaria Fault system within the EM Group. This IP/RES method proved effective in locating anomalous targets at GWM's M2 and M4 projects which are due to be drilled this Autumn.

 

Chief Executive, David Fraser commented: "Our recent work at M8 provides further evidence of the potential westward extension of the Golconda Fault corridor into the GWM claim area so that M8 now has the potential to become the Company's fourth major copper target, indicating district style faulting within the GWM licence area. We are now planning further soil sampling and an IP survey to delineate future drill targets and will provide further updates as analysis and work continues over the summer."

 

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.

 

 

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

 

Novum Securities Limited (Joint Broker)

Jon Belliss

 

 

 

 

+353 1 679 6363

 

 

 

 

+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.
 
END
 
 
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