Progrès du site de l'usine et Forum d'investissement minier 121
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" ou la "Société")
PROGRESSION DU CHANTIER DE L'USINE
& 121 MINING INVESTMENT FORUM
Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8 GW), qui explore et développe des cibles d'or, d'argent et de cuivre au Nevada, provides the following update on its joint venture, Western Milling LLC (Western Milling), which is currently constructing a process mill in Nevada for recovery of precious metals from mining waste.
MILL SITE COMPLETION STATUS
Following delays outside the Company's control, including the difficulties of securing concrete supplies in a remote location at a reasonable price and a shortage of appropriately qualified personnel available in the area resulting in a stop-go situation, now resolved, together with unusually severe weather conditions in 2023, the mill project is nearing completion. Set out below is a schedule of the progress on the main items.
· Construction: Gravity terraces, ramps, access road, lay down area and containment are complete. Base for rod mill outstanding.
· Équipement de traitement : Hydrocyclones, spirals and shaker tables are being installed by a finishing team. The Jaw crusher is waiting on parts but timing is not critical as it will not be needed during the start-up stage. The Rod Mill has been inspected but is currently offsite. This 20-ton item will be brought to site in the final stage pre-start up.
· Mesures de sécurité: Safety barriers complete and safety procedures established and written up in a manual in accordance with MSHA regulations.
· Laboratoire d'essais : A near site laboratory for testing materials has been established and is now operational, providing for rapid analysis during processing without reliance on external assay laboratories.
· Utilitaires: A generator set-up will provide power for start of operations. Three-phase power line to be extended to site from nearby infrastructure at a second stage. Water rights are in the process of being transferred and a well has now been drilled, achieving flow capability several times in excess of requirements. Four water monitoring wells have also been drilled for ongoing verification that the water table is not affected by operations. Water tanks have been installed.
· L'utilisation des terres: A formal Surface Use Lease Agreement has been signed with the joint venture partner for use of the mill site at a peppercorn rent and registered with the county authorities.
· Endiguement: All steps considered necessary have been taken to contain material within the site and prevent spillage in line with regulatory requirements. Double and triple containment has been constructed where applicable in anticipation of the second phase of the project which will involve chemical leaching.
· Trucking of Material: A 20 ton and a 40 ton truck, with drivers, are on standby to bring raw material to site. Initially these are being rented but once the operation is up and running and the operating practicalities have been assessed, the joint venture may exercise an option to purchase one or the other or both.
· Engineering Sign-off: An independent consulting engineer has been retained to inspect, verify and approve the project as-built prior to production start-up.
PERMITTING STATUS
Once the project is ready to start operations, anticipated before the end of the year, the timing of production start-up will depend on securing two separate permits, application for both having been made and the approvals of which are due and currently awaited.
1. NDEP: Production start-up requires an environmental permit from NDEP (The Nevada Department of Environmental Protection). An application was filed at the beginning of this year and the Company was advised that it would be processed within six months. Towards the end of the six-month period, the joint venture was advised that there would be a delay of a further 2-3 months due to staff shortages and work overload. This further period has now effectively elapsed and the Company has recently met with NDEP to determine if there are any significant issues affecting the permit. A response is awaited but the Company is not so far aware of any outstanding issues beyond an administrative backlog within NDEP.
2. BLM : A ground disturbance permit is required from the BLM (the Federal Bureau of Land Management) to move mine waste from its current locations to the mill site. This is a standard permit, similar to those routinely granted for drilling operations. Again, there appears to be an administrative backlog and, although no problems are anticipated, material cannot be moved until the permit has been issued.
JOINT VENTURE AGREEMENT
Final documentation between the joint venture partners, including the Surface Use Lease Agreement and a Bill of Sale for the inventory of equipment being provided by the joint venture partner, has been signed and submission has been made to the State of Nevada for formal registration of Great Western's 50% shareholding in Western Milling LLC.
121 MINING INVESTMENT FORUM
Great Western is participating in The 121 Mining Investment Forum in London on 20-21 November and the Company's presentation will be published shortly before the event.
Le président de Great Western, Brian Hall, a déclaré : "All the directors of Great Western are shareholders in the Company and we share the frustration expressed recently by a number of independent shareholders over the delays that have arisen in completing this project. However, it should be noted that the basic design has not changed since inception and the concept remains sound with costs under control. It should also be noted that, despite delays, the project is likely to be achieved at a fraction of the cost of a green field site using new plant and equipment, which was an earlier option considered by the Company. The original and continuing objective of the mill is to generate revenues for the Company from easily accessible mine waste, for which an independent resource has been commissioned, and we expect to achieve this in the near future.
"While generation of first revenues will be an exciting development for the Company which will support operations, I want to point out that the main driver for Great Western's growth is not the process mill but the enormous upside potential of our large inventory of claims in the Walker Lane Belt of Nevada, which we are working on fruitfully and moving to the next stage."
Pour plus d'informations:
Great Western Mining Corporation PLC | |
Brian Hall, président | Tel: +44 (207)933 8780 |
Max Williams, directeur financier | Tel: +44 (207)933 8780 |
Davy (NOMADE, Euronext Growth Listing Sponsor & Joint Broker) Brian Garrahy |
Tel: +353 (1)679 6363 |
SP Angel Corporate Finance LLP (Conjoint Broker) Ewan Leggat/Harry Davies-Ball |
Tel: +44 (203)470 0470 |
Walbrook PR (conseillers en relations publiques) Nick Rome |
Tel: +44 (207)933 8783 |
Notes aux rédacteurs
La société possède une vaste superficie dans le comté de Mineral, Nevada. La zone se compose d'un terrain accidenté et montagneux, ce qui signifie que de grandes parties de celle-ci restent sous-explorées. Le potentiel minéral est hébergé par la ceinture structurale régionale de Walker Lane, la plus grande ceinture structurale et métallogénique du Nevada, mais l'une des moins explorées ces derniers temps, avec de l'or, de l'argent et du cuivre actuellement produits dans le comté de Mineral. Great Western compte sept zones de concession distinctes qui offrent le potentiel d'exploiter (1) des gisements d'or et d'argent à court terme et (2) des gisements de cuivre à long terme de classe mondiale.
Six des propriétés de la Société sont situées à l'ouest du comté de Mineral et sont détenues et exploitées à 100 %. La Société a une option pour acquérir une septième propriété, Olympic Gold Project, dans l'est du comté. La petite équipe d'exploration de Great Western est appuyée par des consultants et des entrepreneurs locaux.
L'état du Nevada est généralement considéré comme l'une des juridictions les plus favorables à l'exploitation minière au monde. Bien que strictement réglementé et soucieux de l'environnement, le Nevada accueille favorablement l'industrie minière. Great Western veille à ce que ses réclamations soient maintenues en règle et que toutes les réglementations soient respectées.
Il existe de nombreuses perspectives d'or et d'argent sur la superficie de la société, y compris de vastes chantiers miniers historiques qui offrent la possibilité d'une récupération secondaire. La Société fait partie d'une coentreprise à 50-50 connue sous le nom de Western Milling LLC qui construit une usine pour traiter le matériel pré-exploité pour la récupération secondaire de l'or et de l'argent.
De plus, grâce à un forage extensif sur une période de cinq ans, GWM a établi une ressource minérale sur sa première zone cible connue sous le nom de M2, de 4.3 millions de tonnes à 0.45% de cuivre, pour 19,000 XNUMX tonnes de cuivre métal contenu. Cette ressource a fait l'objet d'un rapport indépendant conformément aux directives du JORC.
GWM a établi une estimation des ressources présumées de 31,000 1.6 tonnes titrant 3.0 g/t d'or et XNUMX g/t d'argent dans les résidus de la mine OMCO du projet Olympic Gold. Elle a également établi des cibles d'exploration. De plus, la Société a déclaré une cible d'exploration comme suit :
· 3,400 6,400 à 0.5 1.2 tonnes titrant entre 1.2 et 2.1 g/t Au et XNUMX et XNUMX g/t Ag dans le substrat sous le volume de résidus à la mine Olympic.
· 9,000 12,000 à 0.9 2.4 tonnes titrant entre 2.0 et 5.1 g/t Au et XNUMX et XNUMX g/t Ag dans un stock grossier à la mine Olympic.
· 4,200 7,700 à 40 140 tonnes titrant entre 0.3 et 0.3 g/t Ag et XNUMX et XNUMX g/t Au dans les terrils de Mineral Jackpot.
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