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Mineral Jackpot Spoil Heaps Grab Sampling Results

Wed, 23rd Feb 2022 07:00

RNS Number : 4758C
Great Western Mining Corp. plc
23 February 2022
 

GREAT WESTERN MINING CORPORATION PLC

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

 

 

MINERAL JACKPOT 

GRAB SAMPLING RESULTS FROM SPOIL HEAPS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) which is exploring and developing gold, silver and copper targets in Nevada announces the results of recent spoil heap material sampling at the Mineral Jackpot claim group.

 

HIGHLIGHTS

· Assay results from sampling of 51 spoil heaps

· Average grades of vein material 1.57 g/t Au (range 0.003 - 21.17 g/t Au) and 327 g/t Ag (range 0.8 - 4988 g/t Ag).

· Average grades of altered wall rock 0.04 g/t Au (range 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (range 0.4-103.00 g/t Ag).

· Spoil heaps composed of average 5% vein material and 50% altered wall rock

 

ASSAY RESULTS AND SPOIL HEAPS COMPOSITION

 

GWM's Mineral Jackpot claim group has seen considerable mining activity in the past, with several high-grade veins worked both at surface and underground for gold and silver. There is a substantial quantity of waste material remaining at surface around these workings in the form of spoil heaps and initial assay results have now been received from these heaps.

 

In total 51 mineralised spoil heaps have now been located at Mineral Jackpot, typically composed of three main types of material, being vein, altered granite host-rock and unaltered granite. Two composite samples were collected from each pile, one of vein rock and one of altered host. The proportional content of each pile or sampling location was then visually assessed. Sampling of the vein and altered granitic host-rock material was carried out in an unbiased manner and was random, not selective. These results are intended to provide an initial guide only to the general nature of the material and not an estimate of the contained mineralisation.

 

The assay results received are set out in Table 1, along with the portions of vein, altered granite and unaltered granite in each heap.

 

Vein material was identified in all but two of the heaps, with median grades of 1.57 g/t Au (with a range of 0.003 - 21.17 g/t Au) and 327 g/t Ag (with a range of 0.8 - 4988 g/t Ag). Altered granite occurs in all but two of the heaps, with median grades of 0.04 g/t Au (with a range of 0.009 - 1.094 g/t Au) and 14.8 g/t Ag (with a range of 0.4-103.00 g/t Ag).

 

The results have led to a prioritisation of selected heaps for follow-up. The next step will be to perform representative sampling of those heaps considered most favourable by size and content and to calculate accurate volumes for the heaps, using a detailed orthophotography survey which will be carried out in the near future.

 

These measurements are expected to provide sufficient information for completion of a resource estimate.

 

 

Table 1. Composition proportion and assay results of Mineral Jackpot spoil heaps. Heap size will be assessed by a detailed orthophotography survey of the ground in the near future. Note: unaltered granite material was not sampled.

Spoil Heap ID

Spoil Heap Composition

Visual Assessment (%)

Vein Assay

Altered Granite Assay

Vein

Alt. granite

Unalt. granite

Au (ppm)

Ag (ppm)

Au (ppm)

Ag (ppm)

1-a

1

29

70

0.079

24.2

0.041

13.5

1-b

3

60

37

0.093

29.8

0.018

15.5

1-c

1

69

30

0.023

8.7

0.030

12.4

1-d

5

80

15

6.510

2423.0

0.091

33.9

2-a

30

50

20

0.624

372.0

0.059

88.8

2-b

3

97

0

0.633

589.0

0.025

13.7

2-c

5

95

0

1.259

127.0

0.036

5.0

5

3

77

20

1.574

49.8

0.106

14.9

6

20

60

20

1.273

666.0

0.037

21.3

3

20

50

30

1.046

500.0

0.050

90.8

4-a

20

80

0

1.285

368.0

0.029

14.8

4-b

10

90

0

0.319

201.0

0.022

25.7

7

30

50

20

0.628

433.0

0.023

32.8

8

95

5

0

1.244

613.0

0.156

103.0

9

25

35

40

4.155

1358.0

0.099

67.2

10

40

60

0

3.326

935.0

0.036

28.9

12

30

45

25

5.080

1507.0

0.075

32.2

14

2

58

40

4.762

4988.0

0.028

31.5

16

1

90

9

2.945

1214.0

0.038

12.9

20

0

1

99

n/a

n/a

0.009

0.4

22

0

20

80

 n/a

n/a

0.011

1.8

26

5

65

30

0.272

101.0

0.123

33.7

11

3

70

27

0.041

11.6

0.019

7.2

15-a

20

45

35

1.324

580.0

0.024

16.3

15-b

20

45

35

4.272

1673.0

0.041

42.4

17

1

30

69

0.070

26.5

0.041

7.7

18-a

2

70

28

0.819

62.4

0.026

13.1

18-b

3

97

0

10.580

2130.0

0.068

34.4

19

15

65

20

4.694

543.0

0.041

24.2

21

30

50

20

6.550

1421.0

1.094

103.0

23-a

2

88

10

7.850

747.0

0.047

44.4

23-b

1

30

69

1.916

659.0

0.022

10.1

23-c

30

20

50

4.372

736.0

0.028

13.0

23-d

20

50

30

2.740

1062.0

0.071

20.3

23-e

1

59

40

0.059

18.3

0.020

1.1

28

20

50

30

2.317

83.0

0.032

1.9

27

4

86

10

0.707

7.2

0.024

1.0

33

4

20

76

9.220

976.0

0.023

6.8

34-a

10

40

50

0.559

38.9

0.062

26.1

34-b

96

2

2

3.438

240.0

0.183

35.4

34-c

100

0

0

7.620

105.0

n/a

n/a

32

20

30

50

5.050

327.0

0.083

9.6

30

5

65

30

18.390

1019.0

0.249

15.5

29

1

80

19

0.158

8.5

0.049

7.4

36-a

1

29

70

0.054

3.6

0.077

2.5

36-b

1

29

70

0.665

27.3

0.207

3.0

35

2

28

70

10.500

224.0

0.077

10.6

38-a

10

1

89

2.290

46.5

0.010

0.9

38-b

15

10

75

21.170

198.0

0.068

4.2

38-c

20

30

50

19.770

251.0

0.063

6.2

39

100

0

0

0.003

0.8

n/a

n/a

Max

100

97

99

21.170

4988.0

1.094

103.0

Median

5

50

30

1.574

327.0

0.041

14.8

Min

0

0

0

0.000

0.8

0.010

0.4

 

 

Great Western Chairman Brian Hall commented: "These Mineral Jackpot results are highly encouraging, indicating a broad distribution of mineralised material throughout the spoil heaps, with locally some very high grades of both gold and silver. We are now in a position to prioritise the largest and richest spoil heaps for use in the next phase of commercialising this significant asset."

 

Competent Person Statement: The information in this announcement that relates to exploration results is based on information reviewed by Dr James Blight MGeol PhD MAusIMM (CP) who is Exploration Manager of Great Western Mining PLC. Dr Blight has requisite experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a "Competent Person" as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Blight is also a "Qualified Person" as defined in the "Note for Mining and Oil & Gas Companies" which form part of the AIM Rules for Companies. Dr Blight has reviewed and consented to the inclusion in the announcement of the information in the form and context in which it appears.

 

MARs Statement: This press release contains inside information as defined in Article 7(1) of the Market Abuse Regulations.

 

For further information:

 

Great Western Mining Corporation PLC

Brian Hall, Chairman

+44 207 933 8780

Max Williams, Finance Director

+44 207 933 8780

 

Davy (NOMAD, Euronext Growth Adviser & Joint Broker)

John Frain

 

+353 1 679 6363

 

Novum Securities (Joint Broker)

Jon Belliss

 

+44 207 399 9400

 

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.

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCTTMRTMTMTBMT
Date   Source Headline
11th Aug 20227:00 amRNSDrilling Completed at Mineral Jackpot
18th Jul 20227:00 amRNSOlympic Gold Drilling Update
14th Jul 202212:00 pmRNSResult of AGM
12th Jul 20227:00 amRNSMOU for creation of JV to process gold and silver
21st Jun 20224:00 pmRNSNotice of AGM

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