Great Western Mining Corp. plc M2 Update (7839H)
March 18 2015 - 8:17AM
UK Regulatory
TIDMGWMO
RNS Number : 7839H
Great Western Mining Corp. plc
18 March 2015
Great Western Mining Corporation PLC
("Great Western Mining", "GWM" or the "Company")
M2 Update
Great Western Mining, the AIM (AIM: GWMO) and ESM quoted mineral
exploration company with 73 sq. kilometres of mineral claims in
south-west Nevada, USA, is pleased to announce that following a
successful site visit, the Company has now been formally notified
by the Bureau of Land Management ("BLM") that its reclamation work
carried out on the M2 project to date has been completed to the
required performance standards. Accordingly 2.5 acres of
disturbance has been rolled over for further exploration drilling
purposes.
November 2014 saw the successful establishment of a maiden
independent JORC (Note 1) compliant, Inferred Resource on the
Company's M2 copper target, containing 23,636 metric tonnes of
Copper, and 16,000 ounces of Gold. The M2 Exploration Target is an
Iron Oxide Copper Gold ("IOCG") deposit with inherently favorable
metallurgical characteristics. M2 is a potential planer structure,
extending 2,134 metres south-southeast beneath the crest of Bass
Mountain to the vicinity of the historic Smith Copper Mine. The
Company considers that the source of the M2 and Smith Mine copper
mineralistion is an epithermal plume located beneath the
"Sharktooth" peak of Bass Mountain. Low grade, open-pittable
copper-gold values at M2 are indicators of much higher grade and
more consistent copper-gold oxide mineralisation at the
intersection of the vertical north-easterly Sharktooth structure
and the Diorite-Dunlap hanging wall caprock.
The disturbance rollover will permit GWM to devise a Phase 3
drilling programme to identify the core of the epithermal plume,
and to extend the strike length of the 2014 Inferred Resource to
the Sharktooth peak. Following meetings and discussions with the
BLM, Great Western Mining has been invited to submit a revised
drilling and disturbance plan under our existing BLM Notice.
Chief Executive, David Fraser commented:
"We are very pleased that the BLM has recognised the high
quality of GWM's reclamation work on M2 and allowed this
disturbance rollover. The rollover negates the requirement for
Great Western Mining to submit a costly and time consuming Plan of
Operation to the BLM and enables it to develop a Phase 3 drilling
programme. The objective of this will be to establish significant
grades and tonnages of oxidised Copper-Gold mineralisation. We will
keep shareholders updated on progress. "
Note 1: 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 8780 (via
Walbrook)
Davy (Nomad, ESM Adviser
& Joint Broker)
John Frain +353 1 679 6363
Roland French
Walbrook (UK PR and IR) +44 207 933 8780
Paul Cornelius
Guy McDougall
greatwesternmining@walbrookpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
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