Great Western Mining Corporation PLC announced the results of soil geochemistry and induced polarisation (IP) surveys at its M5 prospect in Mineral County, Nevada. New soil samples have shown continuing anomalism for both gold and copper in the northeast of the M5 prospect area. An IP survey has identified a chargeability-resistivity pair aligned with the M5 ridge where the strongest soil sampling results occur.
Both new datasets point to the system continuing under cover to the northeast. The results will support drill targeting prioritisation as the Company advances its exploration strategy in the Walker Lane Belt. The M5 prospect occurs at a prominent 850 m long northeast trending ridge, located in the south of the Jack Springs claim group.
The ridge is composed of mafic intrusions in an altered volcanic package, standing proud of surrounding tertiary lava cover. The ridge hosts a number of mineralised outcrops, including a quartz vein with bonanza silver grades (5.14 g/t Au, 1,246 g/t Ag and 0.32% Cu, reported in late 2023) and sulphide stringers featuring chalcopyrite. Soil sampling in 2023 identified a zone 1500 m long by 400 m wide containing several corridors of anomalous gold and copper values which are open as they reach the edge of surrounding overlying tertiary lavas to the northeast.
The objective of the IP survey at M5 was to investigate the ground beneath the main ridge and any possible continuation of anomalies to the northeast under volcanic cover. This was successful. Line 1 identified a chargeability anomaly associated with the southwestern flank of the M5 ridge, adjacent to strong resistivity high at the ridge crest.
The same relationship occurs on Line 2 where a similar pair of anomalies has been identified beneath the tertiary cover sequence. The chargeability anomaly on Line 2 is stronger than the corresponding anomaly on Line 1. 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 the seventh and most recent acquisition, the Olympic Gold Project, is in the east of the county, some 50 miles from the main group. All the Company's claims are 100% owned. Claims at the Eastside Mine Group have been contributed to a pooling agreement with Bronco Creek Exploration Inc. and in addition the Company participates in the Huntoon Mine Area Cooperation Agreement with landowner-neighbour Crowne Point Resources with whom it shares resources.
Great Western's small exploration team is supported by locally based consultants and contractors. The state of Nevada is 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. The Company is party to a 50-50 joint venture known as Western Milling LLC which is constructing a mill to process pre-mined material for secondary recovery of gold and silver.
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. GWM has also established an Inferred Resource Estimate of 31,000 tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings associated with the OMCO Mine at the Olympic Gold Project.
Additionally, exploration targets have been independently reported as follows: 3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and 1.2 and 1.2 and 1".
