Great Western Mining Corp. plc M2-Sharktooth Update (2146X)
August 08 2018 - 5:37AM
UK Regulatory
TIDMGWMO
RNS Number : 2146X
Great Western Mining Corp. plc
08 August 2018
Great Western Mining Corporation PLC
("Great Western Mining", "GWM" or the "Company")
M2-Sharktooth Update
Great Western Mining (AIM: GWMO and ESM: 8GW) announces that
assay results for the M2-041 core samples from 1050 to 1480 feet
(320-450 metres) have now been received.
No significant gold, copper or trace element geochemistry was
recorded in this first batch of core samples. As previously
reported, silica alteration and magnetic intensity increased
downhole, and is particularly strong in the last 150 feet (50
metres) to the current depth of 1,671 feet (509 metres).
Drilling through the caprock and breccia at M2-041 has proven to
be slower and more difficult than anticipated. The Company has
therefore modified its drilling plans. M2-041 will terminate at the
current drilled depth of 1,671 feet (509 metres), and the rig will
be moved to the M2-042 location, 600 feet (183 metres) due west and
up the structural dip from M2-041. At this new location the
projected intersect with mineralised diorite is shallower at 1,180
feet (360 metres).
Chief Executive, David Fraser commented: "The breccia
encountered in M2-041 is an indicator of hydrothermal activity in
the Sharktooth zone, but forms a thick barrier to depths of at
least 509 metres, preventing us from reaching the underlying
diorite target. At M2-042 we expect to intersect mineralised
diorite at shallower depth. We will keep shareholders updated as
work continues."
Qualified Person
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 has sufficient experience, relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking, to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves' and as a Qualified Person as defined in the Note for
Mining and Oil & Gas Companies which form part of the AIM Rules
for Companies.
Mr Strachan has reviewed and approved the geological content of
this announcement.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
ENQUIRIES:
Great Western Mining Corporation +44 207 933 8795 (via Walbrook)
PLC
David Fraser, Chief Executive
Davy (Nomad, ESM Adviser & Broker)
John Frain +353 1 679 6363
Novum Securities Limited (Joint
Broker)
Jon Belliss +44 207 399 9400
Walbrook PR (UK PR and IR) +44 207 933 8795
Paul Cornelius greatwesternmining@walbrookpr.com
Nick Rome
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END
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