Great Western Mining Corp. plc Olympic Gold Project - Drilling Update (2938Y)
May 12 2021 - 1:00AM
UK Regulatory
TIDMGWMO
RNS Number : 2938Y
Great Western Mining Corp. plc
12 May 2021
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
OLYMPIC GOLD PROJECT - DRILLING UPDATE
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW) provides the following progress report on its 2021
drilling campaign in Mineral County, Nevada.
The initial 6-hole programme at the Trafalgar Hill propect
('Trafalgar Hill') is now complete, with 4,430 feet (1,350 metres)
achieved, against a plan of 4,425 feet (1,348 metres). Due to a
high rate of penetration, the six holes were completed in 15
drilling days at an average rate of 295 feet (90 metres) per
drilling day with no safety incidents, significantly ahead of
schedule and under budget.
All six holes initially appear to have intercepted the main
shallow target structure, providing a potential strike length of at
least 300 metres and a continuation down dip of over 100
metres.
The two northernmost holes also intercepted the Company's deeper
target in the footwall of this breccia zone.
Laboratory assay results from the first four holes are expected
later this month and will be announced when available. While target
structures have been successfully identified, precious metal
content cannot be established until the independent laboratory
assays have been completed.
With the Trafalgar Hill drilling programme complete, the rig is
currently being moved to the close-by West Ridge prospect, which
will be followed by the Omco Mine Extension prospect. All these
prospects lie within the Olympic Gold Project which the Company
acquired on an option-to-purchase basis in 2020. Once these Olympic
Gold prospects have been drilled, the rig will move to the Rock
House Group for the next stage of the 2021 programme.
Further updates will be issued when appropriate.
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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