Last checked at 29 Mar 2022 07:00
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
MINERAL JACKPOT ROAD COMPLETION
Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver and copper targets in Nevada, is pleased to announce that the upgrade of the road to its Mineral Jackpot group of properties is now complete.
This road connects the Company's base at Marietta to the Mineral Jackpot group of properties which is made up of five historic mines - the Mineral Jackpot Mine, the Bass Mine, the Ming Toy Mine, the Silver Bell Mine and the Silver Moon Mine. None of these, which date from the late 19th and early 20th centuries, has been exploited in recent times but in the last two years rock chip sampling, soil sampling, magnetometer surveys and drone surveys carried out by Great Western have identified exciting potential for further gold and silver exploitation. As previously announced, the Company estimates an approximate doubling of the mineralisation over the area and believes there is connectivity between the five individual mines.
The road to Mineral Jackpot is 14km in length with a vertical elevation of approximately 660m from Marietta to the mine site. The work has involved widening the existing road from 8 feet to 14 feet (2.4m to 4.3m) and grading it. Where the road is built into the mountainside it has been blasted over a distance of several hundred metres to achieve the required width and it is now accessible for large vehicles, including rigs and associated equipment for drilling operations and trucks to enable removal of spoil material for processing.
Great Western has a permit in place for a five shallow-hole drill programme at Mineral Jackpot to test high grade outcropping veins close to the historical mine workings. The Company aims to drill some or all of these holes as part of the 2022 work programme, subject to contractor availability
51 spoil heaps have already been identified at Mineral Jackpot, left over from historic mining operations. Assay results from the spoil heaps were published on 23 February 2022 as part of ongoing work in planning for secondary recovery processing of gold and silver. Until now it has only been possible to load out small quantities of this material from site but the completion of the road opens up the means to transport large volumes. The upgraded road provides access to the main spoil heaps but minor spur roads will be needed to access some of the more remote spoil heaps in due course.
In early April a management visit to site is planned in conjunction with specialist advisers to progress the reprocessing project.
Great Western Chairman Brian Hall commented: "Completion of this road represents a very positive start to the 2022 work season on our claims in Mineral County, Nevada and is a significant step in enabling us to exploit the Mineral Jackpot area. Our field team is in place and well advanced in preparations for first drilling, likely to commence at the Rock House properties, the precise timing of which will depend on the drill contractor. We will keep shareholders informed and are looking forward to making strong progress on all fronts this year"
For further information:
Great Western Mining Corporation PLC | |
Brian Hall, Chairman | +44 207 933 8780 |
Max Williams, Finance Director | +44 207 933 8780 |
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Davy (NOMAD, Euronext Growth Adviser & Joint Broker) John Frain |
+353 1 679 6363 |
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Novum Securities (Joint Broker) Jon Belliss |
+44 207 399 9400 |
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Walbrook PR (PR advisers) Nick Rome/Nicholas Johnson |
+44 207 933 8783 |
Notes to Editors
The Company has a large tract of acreage in Mineral County, Nevada. The area consists of rugged, mountainous terrain, which means that large parts of it remain under-explored. Mineral potential is hosted by the regional Walker Lane Structural Belt, the largest structural and metallogenic belt in Nevada, yet one of the least explored in recent times, with gold, silver and copper currently produced in Mineral County. Great Western has seven distinct concession areas which offer the potential for exploiting (1) short term gold and silver deposits and (2) long-term, world-class copper deposits.
Six of the Company's properties are in the west of Mineral County and are 100% owned and operated. The Company has an option to acquire a seventh property, the Olympic Gold Project, in the east of the county. Great Western's small exploration team is supported by locally based consultants and contractors.
The state of Nevada is generally considered to be one of the world's most mining friendly jurisdictions. While tightly regulated and environmentally conscious, Nevada welcomes the mining industry. Great Western takes care to ensure that its claims are maintained in good standing and all regulations observed.
There are numerous gold and silver prospects on the Company's acreage, including extensive historic mine workings which offer the opportunity for secondary recovery.
Furthermore, through extensive drilling over a five-year period, GWM has established a Mineral Resource on its first target area known as M2, of 4.3 million tonnes at 0.45% copper, for 19,000 tonnes of contained copper metal. This resource has been independently reported in accordance with JORC guidelines.