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Pin to quick picksGreat Western Regulatory News (GWMO)

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Operational Update

6 Mar 2018 07:00

RNS Number : 7626G
Great Western Mining Corp. plc
06 March 2018
 

Great Western Mining Corporation PLC

 

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

 

Operational Update

 

Great Western Mining (AIM: GWMO) provides the following update on operations in Mineral County, Nevada, USA.

 

The M2 infill drilling has been proceeding well despite significant sub-zero night time temperatures and recent snow storms; the fifth hole M2-037 is currently underway. The Company announces that approval has been received from the US Bureau of Land Management ("BLM") to increase the number of holes which GWM can drill under the current M2 drill permit. As a result, Great Western Mining has decided to drill three holes in addition to the five previously announced. Subject to weather conditions, the revised drill programme should be completed towards the end March, with assay results due about end April.

 

Great Western Mining also announces that agreement has been reached with the US Forestry Service ("USFS") for the re-commencement of M4 (Target 4) drilling in early April.

 

The M2 Sharktooth zone drill pads and access roads are now complete. However, pumping sufficient quantities of water to support diamond core drilling has proved challenging in the extreme sub-zero temperatures that prevail at this elevation. A snow storm during the last week has made the main Sharktooth access road icy and dangerous. Accordingly, Great Western Mining has decided to await the better weather forecast from the beginning of next month before continuing with Sharktooth preparation work and drilling.

 

Chief Executive, David Fraser commented: "We were very pleased to receive approval from the BLM to drill these extra holes on M2, which the Company views as an important first step to improve the 2014 JORC* Inferred Resource to Measured & Indicated. We are reaping the benefits of our good working relationship with the USFS in enabling us a re-start drilling date at M4, despite difficult ground conditions. The Great Western Mining field team and contractors have worked very hard to deliver the 2018 drill programme and we look forward to delivering a full suite of results to shareholders during the second quarter. As always, we will update shareholders promptly if there are any significant developments."

 

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

 

* 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

 

+44 207 933 8795 (via Walbrook)

+44 207 933 8795 (via Walbrook)

Davy (Nomad, ESM Adviser & Broker)

John Frain

 

+353 1 679 6363

 

+353 1 679 6363

 

Walbrook PR (UK PR and IR)

Paul Cornelius

Nick Rome

+44 207 933 8795

greatwesternmining@walbrookpr.com

+44 207 933 8795

greatwesternmining@walbrookpr.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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