Level 2

Great Western Mining reports progress in Nevada

By Josh White

Date: Thursday 30 Mar 2023

Great Western Mining reports progress in Nevada

(Sharecast News) - Great Western Mining updated the market on its gold, silver, and copper exploration and development efforts in Nevada on Thursday, as it prepared for the start of drilling operations and the 2023 exploration programme in Mineral County.
The AIM-traded firm said a new full-time geologist - a US citizen - would be permanently based in Mineral County to strengthen the team.

It said the first drilling would be carried out on the OMCO Mine prospect at the Olympic Gold project in April, when weather and ground conditions permit, to follow up the 2022 discovery of an extension to the previously-mined OMCO vein.

The company's 50%-owned milling joint venture in Mina was meanwhile awaiting approval for permit applications filed with authorities.

Groundwork was complete, and the equipment needed for the assembly of the plant was now available.

However, the concrete pour was pending suitable weather conditions.

Great Western said it had been conducting an extensive review of its copper prospects during the winter, including the M2 area located in the Black Mountains group of claims.

A JORC-compliant independent report in 2018 established a copper resource of 4.28 million tonnes at a grade of 0.45% copper, partly inferred and partly indicated.

The firm said it had identified two areas within M2 that had not yet been drilled, and were categorised as exploration targets in JORC terminology.

Its recent review of all available data reportedly re-emphasised the potential for M2, which could exceed the resource already reported.

If the independently-calculated exploration targets were correct, the resource and the exploration targets together at M2 could total between 14.3 million and 21.3 million tonnes at 0.4% to 0.6% copper.

"In-depth work over recent months has made our copper potential look ever more interesting and we are actively seeking a development partner for M2," said executive chairman Brian Hall.

"Once we have completed our studies of the Huntoon Valley and the Eastside Mine copper prospects, we will report on these as well."

Hall said Great Western's near, medium and longer term objectives remained completing the mill facility and bringing it on to production, continuing the search for precious metals and pinning down a discovery for development, and ensuring that the potential upside of the company's copper prospects was maximised.

"Importantly, once the mill is producing we will become a revenue and cash generating business and we look forward to keeping shareholders informed on progress."

At 1542 BST, shares in Great Western Mining Corporation were up 1.05% at 0.1p.

Reporting by Josh White for Sharecast.com.


Email this article to a friend

or share it with one of these popular networks:

Top of Page