Trading Statement

RNS Number : 5454A
Great Western Mining Corp. plc
02 April 2012
 



 

Great Western Mining Corporation PLC

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

 

Operational Update

 

Significant Copper, Silver and Gold Potential in Nevada Claims 

 

·     Trenching indicates significant copper, silver and gold mineralisation

·     Because of length  of mineralised zone , 67 new claims staked

·     Full soil survey to begin by end-March

·     15,000 metre drilling programme planned on completion of phase 2  of the exploration and development programme

 

(2nd April 2012, London and Dublin) Further to the announcement on 10th January 2012, Great Western Mining, the AIM and Dublin ESM listed mineral exploration company, is delighted to announce the results from the current phase of geological mapping and testing of target A4, otherwise known as the 'Double Prospect', near Marietta, Nevada.

 

Emmett O'Connell, Executive Chairman, Commented: "These results add further weight to earlier reports, including the June 2011 Competent Person's Report, of the possibility of bulk tonnages of copper and silver at moderate depths. We look forward to the next phase of the exploration programme and the subsequent drilling programme which is aimed at establishing a JORC compliant report for the Double Prospect"

 

The 10th January announcement referred to the planned commencement of a Reverse Circulation drilling campaign. However, the Board, after reviewing these results has determined that drilling should be deferred until the drill targets can be better defined by surface trenching.

 

During the latter part of January and into February, two lateral trenches with a combined length of 55 metres were excavated in two roadcuts. The lower roadcut (lower main trench) yielded 8 vertical channel samples from 1.4 to 1.8 metres long. The upper roadcut (upper main trench) yielded 8 horizontal channel samples and 1 grab sample. With the addition of 1 representative channel sample and 2 grab samples from shallow workings at the top of the Double Prospect ridge, a total of 20 samples were taken and analysed.    

 

Geological Report and Summary of Sample Analysis

 

The Company has engaged an experienced consulting geologist, Donald G. Strachan, who has reported that all samples taken from the trenches, which extend over the entire length of the A4 zone, contained copper mineralisation with values up to 4.24%. Furthermore, every sample contained traces of gold and silver. A table containing sample results is set out below.

 

 

 

 

 

 

 

 

 

Summary of Sample Analysis

 

Method for copper: 4-Acid digestion, AA analysis for total copper. Acid soluble copper by specific technique.

Method for gold: Method: 1-AT fire assay with AAS finish for gold.

 

Element:

Total

Copper

Total

Copper

Acid Soluble

Copper

Acid Soluble Copper

Gold

Check

Gold

Silver

Check

Silver

Detection Limit:

2

2

1

1

0.0068

0.0068

0.2057

0.2.57

Units:

%

%

%

%

g/tonne

g/tonne

g/tonne

g/tonne

Sample Group 1









Sample 1

0.2820

0.2800

0.2176

0.2172

0.0617

0.0651

2.605

2.194

Sample 2

0.2300


0.1640


0.0308


3.599


Sample 3

0.5220


0.3980


0.0445


2.811


Sample 4

0.4020


0.3400


0.0479


2.811


Sample 5

0.1864


0.1356


0.0308


2.194


Sample 6

0.1084


0.0680


0.0239


3.394


Sample 7

0.4520


0.3292


0.0377


3.188


Sample 8

0.2520


0.1640


0.0342


2.399


Sample Group 2









Sample 1

0.0360


0.0140


0.0891


0.994


Sample 2

0.0974


0.0624


0.1234


2.811


Sample 3

0.0514


0.0253


0.0343


2.606


Sample 4

0.1170

0.1184

0.0580

0.0604

0.0411

0.0411

0.788

0.994

Sample 5

0.3660


0.2572


0.1200


2.194


Sample 6

0.0408


0.0147


0.6480


1.200


Sample 7

0.0812


0.0608


0.0617


2.194


Sample 8

0.2660


0.1924


0.0549


1.200


Sample 9

0.0568


0.0167


0.0411


1.200


Sample 10

4.2400


4.0200


0.1302


2.811


Sample 11

1.1240


0.9960


0.1302


3.805


Sample 12

0.4620


0.4020


3.2194

3.0788

2.880


 

 

Expansion of Claims

 

Following the closer definition of the surface mineralisation it has been decided to extend      the area under claim by surveying and staking some 67 new claims, extending westwards along the flank of the existing claims on the Double Prospect. Geological mapping and soil sampling will commence immediately on Prospect M2, which lies to the north of A4, to determine whether the mineralisation extends into that area, before drilling commences.

 

The Next Phase

 

Detailed geological mapping and a full soil survey will be conducted on A4 and integrated with the earlier ground IP/magnetic geophysics together with reconnaissance mapping of M2 to determine the nature and extent of any copper mineralisation.

 

The M2 survey is expected to link it with A4 after which the Board will determine where to locate the roads and drill sites (Phase 2). Assuming the copper mineralisation is intersected at depth GWM will look to undertake a comprehensive drilling campaign (up to 15,000 metres), which with continued surface work may lead to the definition of an initial resource.

 

 

 

 

Availability of Map

 

A map of the Company's claims with the Double Prospect shown as ASTER 4 TARGET AREA will be uploaded to the website shortly.

 

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.

 

The Joint Ore Reserves Committee (JORC) code is a code of practice which sets minimum standards for public reporting of exploration results, mineral resources and ore reserves as well as sampling protocols.

 

Enquiries:

 

Great Western Mining Corporation PLC

 

Emmett O'Connell, Chairman        

Melvyn Quiller, Chief Executive    

 

 

 

+353 51 565844

+44 771 289 9588

 

 

 

emmet@iol.ie

melvyn.quiller@gmail.com




Shore Capital (Nomad & UK Broker)

 

Bidhi Bhoma / Toby Gibbs (Corporate Finance)

Jerry Keen (Corporate Broking)

 

 

 

 

             +44 20 7408 4090

 

 

 

 

bidhi.bhoma@shorecap.co.uk

jerry.keen@shorecap.co.uk




Bloxham (ESM Adviser & Irish Broker)

 

Peter O'Carroll     

 

 

 

+353 1611 9263

 

 

 

ocarrollp@bloxham.ie




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
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