Inferred JORC Resource

RNS Number : 8922W

Great Western Mining Corp. plc

13 November 2014

 



Great Western Mining Corporation PLC

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

Inferred JORC Resource

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 provide further details of the recently announced maiden Mineral Resource at the Company's M2-Smith ("M2") Oxide Copper Project, licensed on a 100% interest basis, in Marietta District, Mineral County, Nevada. A JORC-compliant report, quantifying an inferred Oxide Copper (Cu) resource was prepared by Donald G Strachan (Note 1) following completion of the Company's Phase 2 drilling programme earlier this year.

Summary of Mineral Resource Estimate:

Table 1: M2-Smith - November 2014 Inferred Mineral Resource

Category	Tonnes (millions)	Grade (g/t)	Contained Metal (million tonnes)
Inferred	19.696	0.12 Cu %	23.636

Source: Donald G. Strachan, competent person.

Note: Reporting cut-off grade at 0.05 Cu%.

Mineral Resources for the M2 mineralisation have been estimated in accordance with the specifications of the JORC Code. In the opinion of Donald G Strachan the block model inferred resource estimate and classification reported herein are reasonable representations of the copper mineral resources found in the M2 Oxide Copper Project.

Geochemical Exploration

Reconnaissance rock samples were taken from the Fletchers Camp area north of the M2 Oxide Copper Project in 2008. In 2012 and 2013, a total of 33 rock chip samples and 16 soil samples were taken from the west side of Bass Mountain and the vicinity of the Smith Mine on the southeast side.

In 2014, a total of 32 rock chip samples and 127 soil samples were taken, all from the M2 project area and further south along the Sharktooth Road towards the Smith Mine. All assay results for Cu were plotted on three maps along with geology.

Drill Exploration

A total of 32 Reverse Circulation bore holes were drilled at M2, including nine holes between 8 February 2013 and 4 March, 2013, and 23 holes between 25 March 2014 and 16 August, 2014 (Table 2). A total of 2,580 feet (786.4 metres) were drilled in 2013 and a total of 13,950 feet (4,252 metres) were drilled in 2014. Drill angles ranged from -45° to vertical, and drill depths from 170 feet (51.8 metres) to 1,380 feet (420.6 metres). All collars were located by GPS (NAD 83). Drillhole dip and azimuth were measured by Brunton compass. Collar elevations were estimated from USGS 7.5-minute topographic maps.

Table 2: Drillhole Locations and Depths

http://www.rns-pdf.londonstockexchange.com/rns/8922W_-2014-11-12.pdf

Copper in 2013 and 2014 Drill Holes-Grades, Thickness and Depths

At the end of 2013, 20 separate oxide copper intervals with cut off grades of 0.1% Cu (1,000 ppm Cu) had been drilled at M2. Seven of these calculated intervals had grade-thicknesses greater than 45,000 ppm Cu.

At the end of 2014, 50 more oxide copper intervals with cutoff grades of 0.1% Cu (1,000 ppm Cu) had been drilled. Thirteen of these calculated intervals had grade-thicknesses greater than 45,000 ppm Cu.

Tables 3 and 4 below show the interval grades for 2013 and 2014 respectively.

Table 3: Drill Results 2013 - Cu Interval Grades, Thickness and Depths

http://www.rns-pdf.londonstockexchange.com/rns/8922W_-2014-11-12.pdf

Table 4: Drill Results 2014 - Cu Interval Grades, Thickness and Depths

http://www.rns-pdf.londonstockexchange.com/rns/8922W_-2014-11-12.pdf

Exploration Potential

The copper host and possible copper source at M2 is a Jura-Cretaceous diorite intrusive. The copper, along with primary iron-oxides and gold were deposited during emplacement and pulsed, retrograde cooling of the diorite (Kd). Loci of copper deposition were internal structural networks in the diorite and along a hangingwall contact with Jurassic Dunlap (Jd) caprock sediments. The hornfelsed caprock formed a barrier to the retrograde copper-bearing solutions emanating from the diorite.

Extensional structural fabrics within the diorite and the planar diorite/Dunlap contact zone will be the focus of future exploration and development by Great Western Mining, to upgrade and extend oxide copper-gold mineralisation at M2, and to advance the M2 oxide copper mineralisation to a JORC-compliant "measured and indicated" status. Reconnaissance and outcrop mapping suggests the caprock/diorite structural horizon may continue beneath the Dunlap (Jd) caprock for 6,000 feet (1,830 metres) southwest towards The Huntoon Valley from the M2 drilling, for 6,000 feet (1,830 metres) east-northeast of the northernmost copper-bearing drill hole, and for 7,000 feet (2,134 meters) south-southeast beneath the crest of Bass Mountain to the vicinity of the Smith Mine.

A Phase 3 drilling programme is planned to upgrade the M2 resource to the measured and indicated category, and to extend the resource to the northeast, southeast, and southwest.

Chief Executive, David Fraser commented:

"These are exciting times for Great Western Mining. This maiden JORC resource is a significant mile-stone in the development of a potentially very large copper ore body at M2-Smith. The Company is poised to commence drilling on its second major copper prospect, Target 4, once the necessary drilling permits have been received. We are making rapid progress on the development of the other targets within our portfolio, about which we look forward to updating shareholders in due course. We remain funded to meet our immediate objectives."

Note 1: Donald G. Strachan is a Certified Professional Geologist (CPG-10376) under the auspices of the American Institute of Professional Geologists. Mr. Strachan is also a Fellow of the Geologic Association of Canada, a Member of the Society of Economic Geologists, and a Member of the Geological Society of Nevada. Mr. Strachan fulfills the requirements of a Qualified Person by reason of experience and education, as set out in JORC (2012) standards, to act as a consulting geologist for advancement of the M2 Oxide Copper Project. Mr. Strachan has reviewed and approved the information contained within this announcement.

ENQUIRIES: 

Great Western Mining Corporation Plc
David Fraser, Chief Executive	[phone]
Davy (Nomad, ESM Adviser & Joint Broker)
John Frain	[phone]
Roland French
Hume Capital Securities plc (Joint Broker)	[phone]
Jon Belliss
Abigail Wayne
Walbrook (UK PR and IR)	[phone]
Paul Cornelius
Guy McDougall
[e-mail]

Glossary 

Geochemistry	Geochemistry is the science that uses the tools and principles of chemistry to explain the mechanisms behind major geological systems such as the Earth's crust and its oceans.
Grade	Quantity of metal per unit weight of host rock.
Host rock	The rock containing a mineral or an ore body.
Induced Polarisation	An Induced Polarisation/resistivity survey involves transmitting a current into the ground using two electrodes and measuring the voltage between another pair of electrodes. Induced Polarisation (IP) techniques are especially useful in exploration for disseminated sulphide mineralisation.
Inferred Mineral Resource	The term "inferred mineral resource" refers to that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.
JORC	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.
Jura-Cretaceous	Refers to the boundary between the Jurassic and Cretaceous geological periods.
Mineral Resource	The term "mineral resource" refers to a concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth's crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge.
Mineralisation	A natural occurrence in rocks or soil of one or more metal yielding minerals.
ppm	Parts Per Million. This is a way of expressing very dilute concentrations of substances. Just as per cent means out of a hundred, so parts per million or ppm means out of a million. Usually describes the concentration of something in water or soil.
Reverse Circulation Drilling	Reverse Circulation Drilling (RC) is a technique which allows for full recuperation of the soil and rock samples, without any wall contamination. Performed by using a triblade, tricone or a down-hole hammer, the samples are evacuated through the face of the bit into the inside tube of a dual wall drill steel so that they never come in contact with the borehole wall.

 

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