Great Western Mining Corp. plc Mineral Jackpot Road Completion (2582G)
March 29 2022 - 2:00AM
UK Regulatory
TIDMGWMO
RNS Number : 2582G
Great Western Mining Corp. plc
29 March 2022
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
MINERAL JACKPOT ROAD COMPLETION
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and
copper targets in Nevada, is pleased to announce that the upgrade
of the road to its Mineral Jackpot group of properties is now
complete.
This road connects the Company's base at Marietta to the Mineral
Jackpot group of properties which is made up of five historic mines
- the Mineral Jackpot Mine, the Bass Mine, the Ming Toy Mine, the
Silver Bell Mine and the Silver Moon Mine. None of these, which
date from the late 19(th) and early 20(th) centuries, has been
exploited in recent times but in the last two years rock chip
sampling, soil sampling, magnetometer surveys and drone surveys
carried out by Great Western have identified exciting potential for
further gold and silver exploitation. As previously announced, the
Company estimates an approximate doubling of the mineralisation
over the area and believes there is connectivity between the five
individual mines.
The road to Mineral Jackpot is 14km in length with a vertical
elevation of approximately 660m from Marietta to the mine site. The
work has involved widening the existing road from 8 feet to 14 feet
(2.4m to 4.3m) and grading it. Where the road is built into the
mountainside it has been blasted over a distance of several hundred
metres to achieve the required width and it is now accessible for
large vehicles, including rigs and associated equipment for
drilling operations and trucks to enable removal of spoil material
for processing.
Great Western has a permit in place for a five shallow-hole
drill programme at Mineral Jackpot to test high grade outcropping
veins close to the historical mine workings. The Company aims to
drill some or all of these holes as part of the 2022 work
programme, subject to contractor availability
51 spoil heaps have already been identified at Mineral Jackpot,
left over from historic mining operations. Assay results from the
spoil heaps were published on 23 February 2022 as part of ongoing
work in planning for secondary recovery processing of gold and
silver. Until now it has only been possible to load out small
quantities of this material from site but the completion of the
road opens up the means to transport large volumes. The upgraded
road provides access to the main spoil heaps but minor spur roads
will be needed to access some of the more remote spoil heaps in due
course.
In early April a management visit to site is planned in
conjunction with specialist advisers to progress the reprocessing
project.
Great Western Chairman Brian Hall commented: "Completion of this
road represents a very positive start to the 2022 work season on
our claims in Mineral County, Nevada and is a significant step in
enabling us to exploit the Mineral Jackpot area. Our field team is
in place and well advanced in preparations for first drilling,
likely to commence at the Rock House properties, the precise timing
of which will depend on the drill contractor. We will keep
shareholders informed and are looking forward to making strong
progress on all fronts this year"
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
Walbrook PR (PR advisers)
Nick Rome/Nicholas Johnson +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.
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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