TIDMGWMO

RNS Number : 1958F

Great Western Mining Corp. plc

16 February 2018

Great Western Mining Corporation PLC

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

Update on M2 Technical Scoping Study

On 10 October 2017 Great Western Mining released a summary of a JORC compliant Technical Scoping Study produced by WT Cohan & Associates ("WTC") over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. WTC have informed GWM that they have found errors in the M2 resource block model which may have resulted in an overestimate of the resources. As the Technical Scoping Study no longer conforms to JORC public reporting requirements, and pending clarification and recalculation, Great Western Mining withdraws the announcement of 10 October 2017, and the associated resource announcement of 12 June 2017.

The current M2 infill drill programme is nearing completion and both the in house geological team and the Company's independent geological consultant, Don Strachan, have reported observations of malachite in chip samples and excellent geology. Drilling at M2 is proceeding to plan with assay results expected around the end of March.

Chief Executive David Fraser commented: "While disappointing, we have no reason to believe at this stage that the overall viability of our project at M2 will be challenged and drilling on site is progressing well and on budget. The Company will continue to keep shareholders updated with developments."

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

ENQUIRIES:

 
 Great Western Mining      +44 207 933 8795 (via Walbrook) 
  Corporation Plc 
  David Fraser, Chief 
  Executive 
 Davy (Nomad, ESM 
  Adviser & Joint 
  Broker) 
  John Frain               +353 1 679 6363 
 
   Beaufort Securities 
   Ltd (Joint Broker) 
   Jon Belliss 
   Elliot Hance              +44 207 382 8300 
 Walbrook PR (UK           +44 207 933 8795 
  PR and IR)                greatwesternmining@walbrookpr.com 
  Paul Cornelius 
  Nick Rome

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDBRGDDCXBBGIL

(END) Dow Jones Newswires

February 16, 2018 12:43 ET (17:43 GMT)

Great Western Mining (LSE:GWMO)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Great Western Mining Charts.
Great Western Mining (LSE:GWMO)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Great Western Mining Charts.