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Pin to quick picksGreat Western Regulatory News (GWMO)

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Operational Update

19 Jul 2012 10:58

RNS Number : 0466I
Great Western Mining Corp. plc
19 July 2012
 



19 July 2012

 

Great Western Mining Corporation PLC

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

 

Operational Update

 

Continued Strong Exploration Progress on M2 Copper Prospect

 

 

Further to the Operational Update on 2nd April 2012, GWM the AIM and ESM listed mineral exploration company, has received an exploration report concerning its licences at M2. The M2 prospect is located in the northern third of a GWM claim block extending 11 kilometres along the north east margin of the Huntoon Valley, Marietta, Nevada. M2 lies 5 kilometres to the north of the target A4 described in the April 2012 Operational Update. The Company is delighted to summarise the geological findings below.

 

The report by the Company's consultant geologist, Donald Strachan, in the Directors' opinion, continues to underpin the geological potential of the claims including:

 

·; Potential for 'shallow, open-pittable, disseminated copper oxides.'

·; The M2 outcrop contains oxide copper mineralisation up to 120 metres wide with a strike length of 1,200 metres.

·; Oxide copper outcrops as disseminations in altered diorite and stratigraphic distributions up to 10 stratigraphic metres above the intrusive contact.

·; The rock chip and soil geochemical sampling conducted in this initial phase have returned up to 77,000 ppm (7.7%) total Cu from black diorite with disseminated limonite-magnetite-chrysocolla-azurite-malachite and up to 7,160 ppm (1.76%) total Cu from the thick zones of a disseminated mineral breccia along the intrusive-sedimentary contact.

·; The mineralisation is described as having enough continuity to 'allow development of an economic oxide and perhaps sulfide resource'.

·; Furthermore, gold values with by product grades ranging from 326 ppb Au to 1,431 ppb Au are reported in four of the mineralised rock chips…

 

The selection of oxide copper drill targets at M2 (Phase One), requires more detailed geologic mapping and geochemical sampling. The report recommends a comprehensive soil grid, a detailed IP infill survey and outcrop mapping, which would more accurately determine the extent of oxidised copper mineralisation; this would enable GWM to determine the extent of mineralisation and the possibility of economically recoverable copper deposits. On completion of this work, which is expected to be in three months, GWM will be able to establish the drill site positions for the proceeding Phase Two operations.

 

Emmett O'Connell, Executive Chairman, commented:

 

"This phase of exploration has yielded further encouraging results, with the prospect of developing an economic copper oxide resource and a suggested sulphide resource. These results add weight to Great Western's development programme and we look forward to the next phase of exploration on this target to establish the extent of mineralisation. We feel that, on completion of Phase One, our mineral targets will be well defined and will improve GWM's chance of success as we progress to establishing the viability of copper production from this site.

 

"The additional surveying work completed since Great Western listed has inspired confidence that its drill targets will provide the results that the management and shareholders had anticipated."

 

Competent Person Statement

 

Information in this release that relates to exploration results is based on information compiled by Donald G. Strachan, Consulting Geologist QP CPG. Mr. Strachan is a certified professional geologist under the American Institute of Professional Geologists, a fellow of the Geologic Association of Canada and is a Competent Person as defined in the JORC Code for Reporting of Exploration Results. Mr. Strachan consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

 

 

Enquiries:

 

Great Western Mining Corporation Plc

 

Emmett O'Connell, Chairman

Melvyn Quiller, Chief Executive

 

 

 

+353 87 798 8839

 

+44 771 289 9588

 

 

 

emmett@iol.ie

 

melvyn.quiller@gmail.com

 

 

 

Shore Capital (Nomad & UK Broker)

 

Bidhi Bhoma / Toby Gibbs (Corporate Finance)

Jerry Keen (Corporate Broking)

 

 

 

+44 207 408 4090

 

 

 

bidhi.bhoma@shorecap.co.uk

 

jerry.keen@shorecap.co.uk

 

 

 

Cubitt Consulting (Financial PR)

 

Nicholas Nelson

Cebuan Bliss

 

 

 

+44 207 367 5150

 

 

 

nicholas.nelson@cubitt.com

 

 

 

Gordon MRM (Irish PR)

 

Brendan McGrath

 

+353 1 665 0453

+353 87 9370266

 

 

brendan@gordonmrm.ie

 

 

 

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