The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGreat Western Regulatory News (GWMO)

Share Price Information for Great Western (GWMO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0395
Bid: 0.039
Ask: 0.04
Change: 0.00 (0.00%)
Spread: 0.001 (2.564%)
Open: 0.0395
High: 0.0395
Low: 0.0395
Prev. Close: 0.0395
GWMO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Independent Interpretation of Geophysical Survey

24 Nov 2011 07:00

RNS Number : 6760S
Great Western Mining Corp. plc
24 November 2011
 

24 November 2011

Great Western Mining Corporation PLC

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

Independent Interpretation of Geophysical Survey

Excellent High Priority Drill Targets Identified

Great Western Mining Corporation PLC, the AIM and ESM listed Copper, Gold, Silver and other metals explorer in Nevada with claims covering 7,305 hectares (73 sq. km), announces the results of an independent Induced Polarisation (IP), Resistivity survey carried out over three locations considered as priority areas for drilling.

The directors believe that the results of this survey support an earlier competent person's report which suggested the presence of bulk tonnages of copper and silver across GWM's claims and the drilling programme will commence early in the new year.

The selected targets are situated in the centre of GWM's extensive claimed area on the western and southern margins of the Black Mountain claim group, covering three anomalies over an area of approximately 15 sq. km. The data quality was considered to be excellent and the coverage appears to have provided effective penetration down to at least 450 metres.

Results Conclusions

IP-resistivity has been remarkably successful with well defined buried anomalies identified across most of the area surveyed. The Black Mountain targets, M2 and ASTER Target 4, are considered high priority drill targets and drill testing is strongly recommended in the report.

Black Mountain (Target M2)

Target M2 very closely correlates with a buried source magnetic high with several copper showings and copper-rich samples along this target taken at ground level.

Black Mountain (ASTER Target 4)

The buried IP-anomaly closely correlates with the ASTER survey and are suggestive of a precious metals environment, perhaps Candelaria silver mine style (see note 1). Several copper prospects and copper rich samples are present at surface level.

Golconda ASTER (target 5)

Further mapping and sampling is suggested prior to drilling to identify the possible location of the Golconda Thrust Fault which is strongly linked to the nearby Candelaria silver mine.

Emmett O'Connell, Chairman, GWM, said:

"These results and the strong recommendation to start drilling, help to confirm our belief in the existence of bulk tonnages of copper and silver across our claims"

"Moreover, we are pleased to be able to provide shareholders with what we believe will be the first in a strong line of positive updates, and equally, we look forward to informing our investors when we start drilling. I expect the drill bit to bite the rock early in the New Year."

Melvyn Quiller, Chief Executive, GWM, added:

"We are delighted with these independent results, which confirm our strong belief in the potential of our assets and it is highly encouraging to have these two locations labelled as "high priority drill targets" by an independent expert. This supports last June's CPR which noted that portions of our properties are permissive for the discovery of bulk tonnages of disseminated copper and silver deposits.

 The survey was carried out by Zonge Geosciences Inc and interpreted by Chris S. Ludwig, Consulting Geophysicist. Copies of the report can be found on the Company's website www.greatwesternmining.com or can be obtained from Hansard using the contact details below.

Enquiries:

GWM

Emmett O'Connell, Chairman

Melvyn Quiller, Chief Executive

 

00 353 51 565844

0771 289 9588

NOMAD and Broker - Libertas Capital

Tim Cofman-Nicoresti/ Neil Pidgeon

 

0207 569 9650

ESM Adviser and Irish broker - Bloxham Stockbrokers

Peter O'Carroll

 

00 353 1611 9263

UK Financial PR - Hansard

Nicholas Nelson/Guy McDougall

0207 245 1100

nnelson@hansardcomms.com

Irish PR - Gordon MRM

Brendan McGrath

00 353 1665 0453

00 353 87 9370266 (mob)

 

 Notes to Editors

 

GWM's operations are based in Mineral County, Nevada and all of its claims are located on the Walker Lane trend and Golconda Thrust Fault, in the Excelsior Mountain range which hosted a number of the 19th Century "bonanza" mines. The Company is incorporated and headquartered in Ireland with the Chief Executive, Melvyn Quiller based in offices in Colchester, England.

 

Note 1: The Candelaria silver mine is now a suspended open pit mine in Nevada. Mining proliferated in Candelaria in the 1880s following the discovery of gold and silver many years earlier. A report published in 1923 mentioned that until 1920, $20 million worth of silver had been produced from this mine.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLPGGUAGUPGGMW
Date   Source Headline
22nd Mar 20194:35 pmRNSPrice Monitoring Extension
12th Mar 201912:34 pmRNSM4 Update
26th Feb 201910:21 amRNSNew Website
25th Feb 201912:45 pmRNSNotification of Major Holdings
14th Feb 201910:41 amRNSM4 Permit Application Update
15th Jan 20197:00 amRNSInvestor Evening
17th Dec 20189:23 amRNSDirector/PDMR Shareholding
10th Dec 20183:11 pmRNSM4 Drill Results
14th Nov 20183:16 pmRNSOperational Update
6th Nov 20189:55 amRNSHolding(s) in Company
2nd Nov 201811:56 amRNSHolding(s) in Company
31st Oct 20184:41 pmRNSSecond Price Monitoring Extn
31st Oct 20184:35 pmRNSPrice Monitoring Extension
30th Oct 20184:12 pmRNSHolding(s) in Company
22nd Oct 20187:00 amRNSSenior Management Appointment
3rd Oct 20181:43 pmRNSIssue of Share Options
1st Oct 20181:29 pmRNSM2 Revised JORC Resource and Update
24th Sep 201811:34 amRNSPositive Drill Results at M1
21st Sep 20187:00 amRNSHalf-year Report
13th Sep 20182:00 pmRNSPrice Monitoring Extension
4th Sep 20182:22 pmRNSHolding(s) in Company
30th Aug 20187:00 amRNSM2-Sharktooth Update and Assay Results
10th Aug 201810:54 amRNSHolding(s) in Company
8th Aug 201811:37 amRNSM2-Sharktooth Update
30th Jul 20187:00 amRNSEnterprise Securities Market Notice
27th Jul 201810:25 amRNSIncrease in Land Position
26th Jul 201811:03 amRNSHolding(s) in Company
25th Jul 20187:00 amRNSEnterprise Securities Market Notice
6th Jul 201810:24 amRNSExercise of Share Options
4th Jul 20182:33 pmRNSDirector/PDMR Shareholding
3rd Jul 20182:58 pmRNSHolding(s) in Company
3rd Jul 20189:05 amRNSSecond Price Monitoring Extn
3rd Jul 20189:00 amRNSPrice Monitoring Extension
3rd Jul 20187:00 amRNSOperational Update and Placing
29th Jun 201811:33 amRNSDirector/PDMR Shareholding
4th Jun 201812:03 pmRNSHolding(s) in Company
30th May 201810:50 amRNSBuyback and cancellation of Deferred Shares
24th May 20189:16 amRNSHolding(s) in Company
23rd May 201812:06 pmRNSM2 Update
17th May 201811:31 amRNSResult of AGM
24th Apr 20189:21 amRNSOperational Update
13th Apr 20183:42 pmRNSHolding(s) in Company
10th Apr 20189:46 amRNSPublication of Annual Report and Notice of AGM
9th Apr 20188:52 amRNSAppointment of Joint Broker
6th Apr 201812:51 pmRNSFinal Results
6th Mar 20187:00 amRNSOperational Update
2nd Mar 201812:32 pmRNSStatement re Broker
19th Feb 201810:55 amRNSHolding(s) in Company
16th Feb 20185:43 pmRNSUpdate on M2 Technical Scoping Study
18th Jan 201811:01 amRNSOperational Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.