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Significant M2 JORC Resource Upgrade
Significant M2 JORC Resource Upgrade.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \nRNS Number : 7406H Great Western Mining Corp. plc 12 June 2017 \n\nGreat Western Mining Corporation PLC\n \n(\"Great Western Mining\", \"GWM\" or the \"Company\")\n \nSignificant M2 JORC Resource Upgrade\n \nGreat Western Mining (AIM: GWMO) is pleased to announce a large increase in JORC Mineral Resources resulting from a comprehensive review by WT Cohan & Associates Inc. (\"WTC\") as part of a JORC Compliant Scoping Study over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. \n \nResources were independently calculated from the results of reverse circulation drilling conducted by GWM in 2013 and 2014. These resources were calculated employing block modelling software and using 15.24 metre square x 1.52-metre-high blocks. A cut-off grade of 0.20% copper was employed in the resource estimates. \n \nSummary of Mineral Resource Estimate:\nTable 1: M2 North Zone - WTC Estimate of Indicated and Inferred Resources\n\n\n\n\nCategory\n\n\nCut-Off Grade Cu%\n\n\n Tonnes\n\n\nGrade \n\n\nContained Metal (tonnes)\n\n\n\n\nIndicated\n\n\n0.2%\n\n\n3,914,740\n\n\n0.525% Cu\n\n\n20,552\n\n\n\n\nInferred\n\n\n0.2%\n\n\n13,074,830\n\n\n0.525% Cu\n\n\n68,643\n\n\n\n\nTotal\n\n\n0.2%\n\n\n16,989,570\n\n\n0.525% Cu\n\n\n89,195\n\n\n\n\n \nThe review has highlighted the scope to double or triple this open pittable resource down dip, towards the Sharktooth Peak, and along the strike of the resource's controlling geological characteristics.\n \nIn addition, WTC has provided an independent estimate of the Exploration Target beneath the M2 Sharktooth Peak, which was identified by reconnaissance and outcrop mapping, surface sampling and two discovery drillholes in 2014: \n \nTable 2: M2 Sharktooth Zone - WTC Estimate of Exploration Target\n\n\n\n\nCategory\n\n\nTonnage Range \n\n\nGrade Range (%)\n\n\nContained Metal Range (tonnes)\n\n\n\n\nExploration Target\n\n\n87,100,000- 116,100,000\n\n\n1.00 - 1.75\n\n\n871,100 - 2,031,750\n\n\n\n\n \nThe Sharktooth Zone estimate was extrapolated from geologic cross sections prepared by Donald G Strachan (Strachan 2014). The estimated grade was provided by Mr. Strachan in May 2017.\n \nChief Executive, David Fraser commented: \"We are really pleased with this new resource estimate, and are confident of further upgrades as po...