The ordinary shares of Great Western Mining Corporation plc (“Great Western Mining”, “GWM” or “the Company”) were listed on the AIM Market of the London Stock exchange, in August 2011. The duel listing on Dublin’s Enterprise Securities Exchange was completed in November 2011.
Great Western Mining is an exploration company focused on copper, silver, gold and other mineral targets in Mineral County, Nevada, USA. The Company has surveyed and staked 896 claims, covering a total area of 73 square kilometres. Seven targets have been identified for immediate investigation.
A Competent Person's Report published with the admission to AIM identified the presence of potentially bulk quantities of copper and silver across the Company’s claims. An Induced Polarisation (IP)-resistivity survey, conducted in November 2011, was carried out over three locations considered as priority areas for drilling.
In 2013 and 2014 the Great Western Mining drilled a total of 32 Reverse Circulation holes at the Company’s first target, (“M2”), including nine holes between 8 February and 4 March 2013, and 23 holes between 25 March and 16 August 2014. A total of 786.4 metres were drilled in 2013 and a total of 4,252 metres in 2014.
The M2 Oxide Copper Project is an Iron Oxide Copper Gold (“IOCG”) deposit with inherently favourable metallurgical characteristics. Great Western Mining’s initial, wide-spaced, 32-hole drilling programme at M2 identified a first-order, shallow, moderately-dipping inferred oxide copper resource of 23,636 tonnes Cu (or 50,121,378 pounds of copper). This inference is based on a planar structural-stratigraphic interpretation for host rock and metal volumes with an overall strike of 030° azimuth, southeast dip of 30°, and strike length of 792.5 metres. Gold (Au) tends to mimic copper (Cu) profiles in most of the drill hole intercepts at a ratio of about 1 Au/50,000 Cu, suggesting that the 2014 inferred copper (Cu) resource contains 16,000 ounces of gold (Au). This resource has the potential to be doubled or tripled down-dip and along strike of the inferred resource blocks.