Great Western Mining Corporation (CDI) (GWMO)

Sector:

Mining

Index:

FTSE AIM All-Share

0.024p
   
  • Change Today:
      0.001p
  • 52 Week High: 0.070p
  • 52 Week Low: 0.023p
  • Currency: UK Pounds
  • Shares Issued: 8,347m
  • Volume: 4,387,827
  • Market Cap: £2.00m
  • Beta: 0.44

Great Western Mining reports promising sampling results

By Josh White

Date: Wednesday 13 Nov 2024

LONDON (ShareCast) - (Sharecast News) - Great Western Mining reported promising results from its soil and grab sampling at the West Huntoon porphyry copper prospect in Mineral County, Nevada on Wednesday.
The AIM-traded company said it had expanded the area of its anomalous copper zone from two square kilometres to over three square kilometres, with recent soil samples indicating copper values as high as 954 parts per million and 571 parts per million in the most concentrated areas.

It said the expansion aligned with previous surveys, confirming the continuity of the anomaly across the prospect.

Located in the Huntoon Copper Project, Great Western said West Huntoon hosted a copper resource of 19,000 tons established through prior drilling.

The latest soil samples, collected during the summer field season, included 47 new samples, extending the zone of interest by 50 hectares.

That extension demonstrated significant potential, especially in the northeast, where elevated copper values correlated with recent induced polarisation surveys that identified a chargeability anomaly close to the sedimentary edge of the valley.

The firm said the grab sampling also yielded high-grade results, with one notable sample from an outcropping mineralized vein showing 16.17 grams of gold per tonne, 207 grams of silver per tonne, and 2.37% copper.

That vein was being further investigated, as it could indicate the presence of a series of high-grade veins alongside the broader porphyry potential at West Huntoon.

The samples were analysed at Paragon Geochemical Laboratories in Reno, Nevada.

Great Western Mining said it would present further insights at the 121 Mining Investment Forum in London on 14-15 November.

"We are continuing to appraise our West Huntoon copper porphyry prospect and are gaining an ever better understanding of the relationship between the numerous prospects which make up the extensive Huntoon Copper Project," said chairman Brian Hall.

"This season's field work has significantly increased the area of the copper anomaly at West Huntoon which is now the largest and highest-grade copper-in-soils anomaly in the wider Huntoon Copper Project.

"Further evidence of vein-hosted high precious metal grades is also welcome news."

Hall said the company had drill-ready prospects at West Huntoon, adding that the novated Huntoon Mine Cooperation Agreement signed earlier in the year would facilitate drilling at the centre of the West Huntoon target in the near-term.

"West Huntoon represents potential for a rapid upgrade of our copper portfolio."

At 1235 GMT, shares in Great Western Mining Corporation were up 3.7% at 0.03p.

Reporting by Josh White for Sharecast.com.

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GWMO Market Data

Currency UK Pounds
Share Price 0.024p
Change Today 0.001p
% Change -4.00 %
52 Week High 0.070p
52 Week Low 0.023p
Volume 4,387,827
Shares Issued 8,347m
Market Cap £2.00m
Beta 0.44

GWMO Star Ratings

Compare performance with the sector and the market.
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Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
21.26% above the sector average21.26% above the sector average21.26% above the sector average21.26% above the sector average21.26% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
69.34% below the sector average69.34% below the sector average69.34% below the sector average69.34% below the sector average69.34% below the sector average
Income Not Available
Growth Not Available

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Trades for 21-Nov-2024

Time Volume / Share Price
15:20 10,909 @ 0.023p
14:29 371,735 @ 0.024p
13:37 756,302 @ 0.023p
13:37 4,615 @ 0.026p
13:37 38,461 @ 0.026p

GWMO Key Personnel

Finance Director Max Williams

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