6th Oct 2014 07:31
LONDON (Alliance News) - Great Western Mining Corp PLC Monday said it has carried out surface mapping and soil and rock chip sampling on three areas in its field programme on the Golconda Thrust Group, Nevada, US, and has confirmed one copper target.
One of the claim areas, M8-EM, is approximately 10 miles south-east of its M2-Smith copper prospect, where the company recently completed a 14,000 feet drilling progamme with the aim of establishing a maiden resource.
Several soil samples taken by Great Western's field team have produced results greater than 10,000 grammes per tonne of copper, it said.
Great Western is still assimilating data on M8-EM, but the data is sufficient to confirm at least one, potentially large, copper oxide target, the company said.
"This is more good news for shareholders. The EM Group [M8-EM] is Great Western's fourth high volume copper oxide prospect in the Marietta District, Mineral County, Nevada. The volume of data available may well mean that M8-EM will become an early drill target for the company. Great Western Mining looks forward to updating shareholders as work progresses," said Chief Executive David Fraser in a statement.
Great Western shares were up 3% to 1.22 pence per share Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Great Western