Great Western Mining - Operational Update
("Great Western", "GWM" or the "Company")
Operational Update and Company Presentation
· Aiming to produce first gold from the Mineral Jackpot processing operation this year
· Ultimate target 0.5 to 1.5 million ounces gold across all prospects in
· 2020 programme funded
The access road to the site was upgraded in August and an excavator will take bulk grab samples from a selection of the 38 existing spoil heaps at Mineral Jackpot, all of which have potential for precious metals recovery and roughly half of which are now already accessible for vehicles. Based on analysis of the bulk samples, a first consignment of material will be offloaded for processing. Timing depends on equipment and contractor availability. As well as the spoil heap processing, drilling will be carried out to follow veins identified by sampling, using a small mobile rig, subject to availability.
Trenching was completed in August and samples from intersected potential veins have now been trucked to a laboratory for analysis, results of which are expected to be available within a month and form the basis of determining follow-up bore hole locations.
A contract for a Magnetometer and associated equipment has now been signed and this was delivered to site last week. A Magnetometer survey will be searching for the continuation of a prolific vein at the historic
While the above three projects have been prioritised for the remainder of this year, the Company has several other precious metal and base metal projects which are of high interest. In the event of delays occurring beyond the Company's control, any idle time may be used to work on the
Note 1: The potential quantity and grade of gold is conceptual in nature, there has so far been insufficient exploration to define mineral resources and it is uncertain if further exploration will result in the determination of mineral resources.
Great Western Executive Chairman
Information in this announcement has been reviewed by
For further information:
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+44 207 933 8780
Max Williams, Finance Director
+44 207 933 8780
Davy (NOMAD, Euronext Growth Adviser & Joint Broker)
+353 1 679 6363
+44 207 399 9400
+44 207 392 1494
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
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 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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