TIDMGWMO
RNS Number : 6198T
Great Western Mining Corp. plc
16 November 2023
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
COPPER POTENTIAL MATERIALLY UPGRADED
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and
copper targets in the Walker Lane trend of Nevada, provides details
of a material upgrade in the copper potential of the Huntoon Valley
area.
A recently completed geological field work programme on the
Company's copper claims has achieved significant results,
underlining an opportunity which may become increasingly attractive
for a larger joint venture partner.
HLIGHTS
-- Clear evidence of a previously unidentified copper porphyry system in the Huntoon Valley.
-- A significant area of granite outcrop has been newly mapped
near the centre of a copper anomaly identified during previous soil
sampling.
-- Over 100 localities with visible surface copper oxide mineralisation have been mapped.
-- 135 new soil samples have been collected.
-- Porphyry expert Dr. Lawrence Carter engaged to review copper potential
-- 19 new claims staked at West Huntoon in the last two weeks to
strengthen the Company's acreage position.
In the Huntoon Valley area, Great Western's successful copper
exploration includes:
1. A resource of copper (M2) established on the Black Mountain
claims with further potential open in several directions.
2. The M4 prospect in the Jack Springs Claims, with a copper
intercept in one drillhole and surface copper oxide showings, to
the south of M2.
3. The West Huntoon prospect, situated across the Huntoon Valley
to the southwest of M2, at which a single hole has been drilled
containing both copper and gold intercepts.
Multiple indications of a potentially major copper play led the
Company to seek third-party advice to assess its positive findings.
In early October Dr. Lawrence Carter, a specialist in copper
porphyries and an expert on the nearby archetypal Yerington
porphyry copper district, visited the site and spent a week with
the Great Western team in the field. Dr. Carter's role was to visit
the site, review, assess and opine on the work done over the
summer, making recommendations for going forward. He was not
charged with providing any kind of valuation or quantification of a
potential resource and his report does not include any measurable
data in that respect.
During Dr. Carter's visit, which was focused on West Huntoon,
but also took in the other projects around the Huntoon Valley,
abundant evidence for porphyry-style mineralisation was identified,
particularly at the newly identified granite area at West Huntoon,
never previously mapped. The juxtaposition of other prospects in
the area (M2, M4) and their possible relations to intrusions
suggest a large magmatic-hydrothermal system at work. Dr. Carter's
full report has been uploaded to the Company's website and can be
accessed through the following link
https://www.greatwesternmining.com/carter/
KEY FINDINGS IN DR. LAWRENCE CARTER'S REPORT
-- First-order field evidence for a magmatic-hydrothermal system
with strong indications of associated porphyry-style mineralisation
exists on GWM's properties and surrounding land (now under newly
staked claims, see below).
-- Key magmatic-hydrothermal textures including pegmatitic pods,
quartz eyes, miarolitic cavities, aplitic porphyry dykes,
unidirectional solidification textures (USTs) and locally intense
stockworks of A, AB and B-type quartz veins all within the newly
mapped West Huntoon granite at the heart of the copper anomaly.
-- Various other observations of intrusive relations, alteration
and mineralisation suggestive of a previously un-realised large
scale porphyry system, covered in several places by tertiary
volcanic horizons - significantly, highlighting potential for
sub-cropping porphyry-style mineralisation on and surrounding GWM's
current Huntoon property.
-- Skarn-style mineralisation at GWM's M2 resource and M4 prospect on the eastern side of
-- the Huntoon Valley may all be associated with a much larger
mineralising magmatic-hydrothermal system.
-- Field evidence from across the Huntoon Valley, as summarised
above, is suggestive of a large sub-cropping porphyry-style
magmatic-hydrothermal system. Current projects elsewhere in the
county are continuously providing evidence for other such systems
in the region.
A study of the trace element geochemical signatures of the
granites encountered during the field visit is in progress. Initial
results indicate fertile geochemical signatures in some of the
granites sampled.
NEW CLAIMS
Following the results of the 2023 field programme, 19 new claim
blocks in two separate groups have been staked in the West Huntoon
area adjacent to the Company's existing claims and covering areas
which are thought to be underlain by shallow prospective
granite.
HUNTOON COPPER PROJECT
The three main prospects around the Huntoon Valley, M2, M4 and
West Huntoon, have been collectively designated the Huntoon Copper
Project, emphasising the likely genetic connections between each
and the potential for additional discoveries over Great Western's
considerable claim acreage around the Huntoon Valley (Figure
1).
Figure 1 . Map to show the Huntoon Copper Project which
comprises the M2 Resource, and the M4 and West Huntoon prospects.
Note, new claims at West Huntoon not shown.
CONCLUSION
Until this year, the focus of Great Western's copper potential
had been on the resource already established through extensive
drilling at the M2 prospect. Although drilling and a great deal of
work is required to prove up a resource at West Huntoon, the
geological work carried out during the summer this year has opened
up the strong possibility of a major new copper porphyry in the
Huntoon Valley, of which the existing M2 resource would only be a
peripheral component.
Great Western Chairman Brian Hall commented: "Great Western has
been working hard in this area for several years now but the work
carried out in 2023 has the potential to transform the Company,
should a major porphyry be established, in a world transitioning
from hydrocarbons where copper will become increasingly important.
This is an exciting development for Great Western."
Qualified Person Statement: The information in this announcement
that relates to exploration results is based on information
reviewed by Dr James Blight MGeol PhD MAusIMM who is Exploration
Manager of Great Western Mining PLC. Dr Blight is a "Qualified
Person" as defined in the "Note for Mining and Oil & Gas
Companies" which form part of the AIM Rules for Companies. Dr
Blight has reviewed and consented to the inclusion in the
announcement of the information in the form and context in which it
appears.
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 Listing
Sponsor & Joint Broker)
Brian Garrahy +353 1 679 6363
SP Angel (Joint Broker)
Ewan Leggat/Harry Davies-Ball +44 203 470 0470
Walbrook PR (PR advisers)
Nick Rome +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. The Company is party to a 50-50
joint venture known as Western Milling LLC which is constructing a
mill to process pre-mined material for secondary recovery of gold
and silver.
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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