Business
Update on M2 Technical Scoping Study
Update on M2 Technical Scoping Study.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \nRNS Number : 1958F Great Western Mining Corp. plc 16 February 2018 \n\nGreat Western Mining Corporation PLC\n \n(\"Great Western Mining\", \"GWM\" or the \"Company\")\n \nUpdate on M2 Technical Scoping Study\n \nOn 10 October 2017 Great Western Mining released a summary of a JORC compliant Technical Scoping Study produced by WT Cohan & Associates (\"WTC\") over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. WTC have informed GWM that they have found errors in the M2 resource block model which may have resulted in an overestimate of the resources. As the Technical Scoping Study no longer conforms to JORC public reporting requirements, and pending clarification and recalculation, Great Western Mining withdraws the announcement of 10 October 2017, and the associated resource announcement of 12 June 2017.\n \nThe current M2 infill drill programme is nearing completion and both the in house geological team and the Company's independent geological consultant, Don Strachan, have reported observations of malachite in chip samples and excellent geology. Drilling at M2 is proceeding to plan with assay results expected around the end of March.\n \nChief Executive David Fraser commented: \"While disappointing, we have no reason to believe at this stage that the overall viability of our project at M2 will be challenged and drilling on site is progressing well and on budget. The Company will continue to keep shareholders updated with developments.\" \n \n \nThis announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 (\"MAR\").\n \n \nENQUIRIES: \n \n\n\n\n\nGreat Western Mining Corporation Plc\nDavid Fraser, Chief Executive\n \n\n\n\n\n\n+44 207 933 8795 (via Walbrook)\n\n\n\n\nDavy (Nomad, ESM Adviser & Joint Broker)\nJohn Frain\n \n\n\n\n\n\n+353 1 679 6363\n \n\n\n\n\n \nBeaufort Securities Ltd (Joint Broker)\nJon Belliss\nElliot Hance\n \n\n\n\n\n\n \n+44 207 382 8300\n\n\n\n\nWalbrook PR (UK PR and IR)\nPaul Cornelius\nNick Rome\n\n\n\n\n\n+44 207 933 8795\[email protected]\n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END UPDBRGDDCXBBGIL\n ","length":5117,...