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Trafalgar Hill and West Ridge Drilling Results

Wed, 28th Jul 2021 07:00

RNS Number : 6739G
Great Western Mining Corp. plc
28 July 2021
 

GREAT WESTERN MINING CORPORATION PLC

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

 

TRAFALGAR HILL AND WEST RIDGE DRILLING RESULTS

 

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing early-stage gold, silver and copper targets in Nevada, is pleased to announce results of its Trafalgar Hill drilling programme at the Olympic Gold Project.

 

HIGHLIGHTS

 

Trafalgar Hill

· High grade intercepts of up to 8.90 grams/tonne gold achieved

· Drilling results support the potential for target expansion

· Potential size and value of the Company's prospects underpinned

· Successful vein extension

· Step-out drilling planned

 

West Ridge

· Results reveal prospectivity from a deeper epithermal vein

 

 

TRAFALGAR HILL

 

Trafalgar Hill lies in the northwestern part of the Olympic Gold Project area where gold has successfully been produced in the past from shallow workings. Two potentially gold-bearing zones identified by geophysics were targeted during the drill campaign and a total of six holes were drilled to test both zones.

 

The holes were drilled using a reverse circulation ("RC") percussion drill rig, with samples recovered every 5 feet (1.5 metres). The cuttings (from both Trafalgar Hill and West Ridge) were individually bagged and sent to an independent analytical laboratory in Reno, Nevada, for certified precious metal assay.

 

Two zones of mineralisation have been identified through drilling.

 

Shallow Zone

 

The shallow zone mineralisation occurs at the lower faulted contact between two separate volcanic units. The contact is defined by an intense zone of hematisation and clay infill. The hangingwall unit is mostly basalt - which likely to be part of the Esmerelda formation, and which thickens eastwards. Importantly, the drilling results highlight a continuation of the previously mined veins on the eastern side of the hill, with holes OMRC005 and OMRC006 reporting grades of 1.04 g/t gold and 8.90 g/t gold respectively. It is expected that the mineralised contact can be continually followed eastwards under thickening cover and this will be tested during the next phase of drilling, this season. Significant intercepts from all six holes drilled into the shallow zone target are set out in Table 1 below. Further drilling in the shallower zone will entail several holes to the south and east of holes OMRC005 and OMRC006 and drill permits will be formally applied for following detailed drill programme planning which has already commence based on these encouraging results received to date.

 

Table 1 Shallow Zone Gold Intercepts >= 0.10 g/t gold

Hole ID

Collar Easting (NAD83)

Collar Northing (NAD83)

Collar Elevation (metres)

Azimuth

Dip

From (metres)

To (metres)

Interval (metres)

Gold (Au) (g/t)

OMRC001

421,110

4,273,758

1,773

270

-60

33.5

35.1

1.5

0.14

OMRC002

421,229

4,273,704

1,781

270

-60

No Significant Intercepts

OMRC003

421,107

4,273,642

1,781

270

-60

33.5

35.1

1.5

0.30

OMRC004

421,239

4,273,600

1,787

270

-60

No Significant Intercepts

OMRC005

421,114

4,273,530

1,790

270

-60

35.1

36.6

1.5

1.04

OMRC006

421,215

4,273,497

1,794

270

-60

85.3

93.0

7.6

1.91

Including

 

 

 

 

 

86.9

88.4

1.5

8.90

 

 

Deep Zone

 

The deeper target encompasses a sulphide rich alteration zone in a thick volcanic package. Gold mineralisation throughout the zone is broad, and mostly of a lower grade than encountered in the shallow zone. Best intercepts in this zone are set out in Table 2 below. The deeper zone is also a candidate for further drilling. An IP survey over the area will assist in better defining these deep target areas and will likely be scheduled for early in the 2022 field season given the current availability of IP crews. 

 

Table 2 Deep Zone Gold Intercepts >= 0.10 g/t gold

Hole ID

Collar Easting (NAD83)

Collar Northing (NAD83)

Collar Elevation (metres)

Azimuth

Dip

From (metres)

To (metres)

Interval (metres)

Gold (Au) (g/t)

OMRC001

421,110

4,273,758

1,773

270

-60

No Significant Intercepts

OMRC002

421,229

4,273,704

1,781

270

-60

137.2

140.2

3.0

0.10

OMRC003

421,107

4,273,642

1,781

270

-60

No Significant Intercepts

OMRC004

421,239

4,273,600

1,787

270

-60

158.5

160.0

1.5

0.18

OMRC005

421,114

4,273,530

1,790

270

-60

47.2

48.8

1.5

0.11

126.5

129.5

3.0

0.14

OMRC006

421,215

4,273,497

1,794

270

-60

105.2

106.7

1.5

0.10

163.1

164.6

1.5

0.12

 

 

 

WEST RIDGE

 

The West Ridge prospect lies to the southeast of Trafalgar Hill and has seen historical mining activity on a small scale. The target was identified by Great Western through a magnetic survey earlier in the year and a single hole has been drilled. This hole did not yield reportable grades of gold, but a subsequent data review based on information from drilling concludes that the prospectivity comes from a deeper epithermal vein system, and a further hole is provisionally planned for later this year.

 

A link to a map of the Olympic claims can be found by clicking here

 

http://www.rns-pdf.londonstockexchange.com/rns/6739G_1-2021-7-27.pdf

 

 

 

 

TAILINGS

 

During the drilling operations, GWM personnel were able to find and review very large volumes of tailings from the long abandoned OMCO Mine which produced high grade gold for several decades up to the 1940s. These tailings have not been leached in the past and offer a strong case for secondary gold recovery which will be studied carefully for possible future exploitation.

 

ONGOING PROGRAMME

 

At the Olympic Gold Project, final assay results are still awaited for 4 of the 11 holes drilled, aimed at identifying, firstly, unexploited veins adjacent to the abandoned OMCO Mine and, secondly, a possible undiscovered extension to the principal OMCO Mine vein, east of a north-south trending fault.

 

Following the Olympic Gold drilling programme, the rig moved to the Rock House Group of claims and drilled 6 holes in the Southern Alteration Zone prospect, results of which are still awaited. The Rock House targets have never before been drilled or otherwise exploited and mineralisation was identified from satellite imagery, which has been followed with extensive sampling and trenching by the Company.

 

Great Western Chairman Brian Hall commented: "This is an exciting time for Great Western, which has a large land position in Nevada, covering over 60 km² and comprising multiple gold, silver and copper prospects. We are very pleased with the results of initial drilling at Trafalgar Hill and look forward to the step-out drill programme planned for later this year. During the first phase of our 2021 programme, we have drilled 17 holes covering five separate prospect areas and are waiting for the remaining assay results, which will be reported as soon as they become available."

 

Qualified Person: Information in this announcement has been reviewed by William Cooper, who is the Chief Geologist and Exploration Manager of Great Western Mining. He holds a MSc in Mining Geology from the Camborne School of Mines. He is a Member of the Australian Institute of Geoscientists (MAIG) and is a Qualified Person as defined in the Note for Mining and Oil & Gas Companies which form part of the AIM Rules for Companies. Mr. Cooper consents to the inclusion of the information in the form and context in which they appear.

 

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

 

Note 1 - g/t = grams per metric tonne, equivalent to parts per million

 

Note 2 - All intervals are quoted as downhole length - true widths are not known at this time

 

 

 

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

 

 

ETX Capital (Joint Broker)

Thomas Smith

 

+44 207 392 1494

 

 

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. 

 

 

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END
 
 
DRLBIGDRGUDDGBR
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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