Great Western Mining Corp. plc Drilling Update (9356A)
June 07 2021 - 2:00AM
UK Regulatory
TIDMGWMO
RNS Number : 9356A
Great Western Mining Corp. plc
07 June 2021
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
COMPLETION OF DRILLING AT OLYMPIC GOLD PROJECT
MINERAL JACKPOT DRILLING PERMIT
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW) advises that it has now completed its planned,
first-phase drilling programme for gold and silver at the Olympic
Gold Project in Mineral County, Nevada.
Eleven holes across four target areas have been satisfactorily
completed, of which six were at the Trafalgar Hill prospect (OMRC-1
to 6) where gold has been mined in the past, one at the West Ridge
prospect (OMRC-7) and a third (OMRC-8) to the south of the former
OMCO Mine which produced gold at high grades until the 1940s as
previously reported.
The remaining three holes (OMRC-9 to 11) have now been drilled
to the east of a fault which was the previously known limit of the
most significant productive vein at the Olympic Mine. The holes
were planned to target anomalies identified by a magnetometer
survey conducted by the Company in 2020.
Drill cuttings from the reverse circulation rig are currently
being analysed at an independent laboratory in Nevada to assess the
gold and silver content of each of the drill holes. Results for
each target area will be announced once they have been analysed
in-house.
Depending on the results, the Company plans infill drilling on
some or all of these prospects later in the summer, subject to
permitting. Meanwhile the Reverse Circulation rig is being moved to
the RH (Rock House) Group for the next phase of the 2021 drilling
campaign.
Elsewhere, at the Mineral Jackpot Group Great Western has now
received a permit from the Bureau of Land Management to enable test
drilling of known veins which have been mined in the past.
Great Western Executive Chairman Brian Hall commented: "Drilling
operations at Olympic Gold have been completed ahead of schedule,
within budget, and we now await the assay results as the rig is
moved to the previously undrilled RH Group, which has exciting
potential for the Company. At Mineral Jackpot, where plans are
going ahead for commercial recovery of gold and silver from
previously mined spoil heaps, the drilling permit will enable us to
progress our assessment of the potential for further gold and
silver recovery in this area of historic mining."
Qualified Person
Information in this announcement has been reviewed by William
Cooper, who is the Chief Geologist and Vice-President Exploration
of Great Western. 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.
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
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END
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