Business
M2 Technical Scoping Survey
M2 Technical Scoping Survey.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \nRNS Number : 1201T Great Western Mining Corp. plc 10 October 2017 \n\n \nGreat Western Mining Corporation PLC\n \n(\"Great Western Mining\", \"GWM\" or the \"Company\")\n \n M2 Technical Scoping Study\n \nGreat Western Mining (AIM: GWMO) is pleased to provide the following summary of a JORC compliant Technical Scoping Study recently completed by WT Cohan & Associates Inc. (\"WTC\") over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. This independent study assesses the economic viability of developing an open pit and underground mine, heap leach and solvent extraction electro-winning facility (\"SX-EW\") at M2 which would directly produce copper cathode from the mineral resources identified at near surface and underground copper-gold deposits.\n \nHighlights:\no JORC compliant Indicated and Inferred Mineral Resource Estimate:\n16.99 million tonnes of 0.52% Cu\no Separate Mineral Resource Report prepared\no Sharktooth Exploration Target identified\no Two further M2 Exploration Targets identified\no Positive pre-tax margins produced in every economic case examined\n \nChief Executive, David Fraser commented: \"We are really pleased that the Scoping Study has highlighted the economic potential of the M2 prospect. The study demonstrates that the current resource estimate produces positive pre-tax margins at current copper prices and the significant upside potential from future resource upgrades. The drill programmes on M2 and M4 (Target 4) planned for this autumn are the first steps in unlocking this potential. Nevada is a Tier 1 mining jurisdiction and there are only a limited number of such low risk opportunities of this potential size in the developed parts of the world. We will update shareholders as work continues on M2 and M4.\" \n \nResources\n \nResources were independently calculated from the results of drilling conducted by Great Western Mining in 2013 and 2014. The mineral resources calculations are discussed in a separate report prepared by WTC titled \"Great Western Mining Corporation plc, Estimate of Resources at...