Last checked at 7 Jan 2014 07:00
7 January 2014
Great Western Mining Corporation PLC
("Great Western Mining", "GWM" or the "Company")
2014 JORC Resource Strategy (see note)
Great Western Mining, the AIM and ESM quoted mineral development and exploration company, announces that it has now completed the detailed analysis for a drill programme that will aim to establish a JORC Resource in the first half of 2014, over GWM's 100% owned M2-Smith copper target ("M2").
This proposed drill programme follows the successful maiden drilling campaign of 2013 and completion of the JORC compliant Phase 1 report, which was made available to shareholders in May 2013. A programme of 20 reverse circulation drill holes has been identified, with more extensive ground geology, surface mapping and sampling planned to run concurrently.
The aim is to enable the company's independent geologist, Donald G Strachan, to establish a JORC Resource, subject to drilling results.
The company anticipates being in a position to submit drilling permit applications within the next month, and to commence preparatory groundwork at the same time.
GWM Chief Executive, David Fraser, commented:
"Your Board intends 2014 to be a year of tangible value delivery for shareholders. We are committed to driving activity forward, and communicating regularly with the investor community as our work progresses in Nevada.
"Great Western has spent considerable effort promoting the potential value of its asset base. We want 2014 to be the year where the inherent value of our extensive bank of Federal land leases begins to be recognized."
Note: JORC stands for Australasian Joint Ore Reserves Committee (JORC), which is sponsored by the Australian mining industry and its professional organisations. The Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code) is widely accepted around the world as the definitive standard for the reporting of a company's resources and reserves.
ENQUIRIES:
Great Western Mining Corporation Plc
David Fraser, Chief Executive +44 7739 803656
david.fraser216@btinternet.com
Davy (Nomad, ESM Adviser & Joint Broker) +353 1 679 6363
John Frain john.frain@davy.ie
Roland French roland.french@davy.ie
XCAP Securities plc (Joint Broker) +44 207 101 7070
Jon Belliss jon.belliss@xcapgroup.com
Guy Peters guy.peters@xcapgroup.com
Walbrook (UK PR and IR) +44 207 933 8795
Paul Cornelius
Guy McDougall guy@walbrookpr.com
Gordon MRM (Irish PR) +353 1 665 0453 / +353 87 937 0266
Brendan McGrath brendan@gordonmrm.ie