24th Sep 2018 13:23
LONDON (Alliance News) - Great Western Mining Corp PLC said Monday the drill results from a exploration target in its Huntoon mine area in the US state of Nevada were at the upper end of its expectations.
A 200 metre bore hole was completed under the terms of the company's cooperation agreement with Crown Point Gold & Silver LLC, signed in 2016. The bore hole was drilled on the border of Great Western and Crown Point's licence.
Drill samples at the M1 exploration target ranged from copper intersects at 3.1 metres to 7.6 metres of 1,225 copper part per million and at 36.6 metres to 44.2 metres of 7,020 copper parts per million.
Significant gold intersects were made at 118.9 metres to 120.4 metres of 0.184 gold parts per million and at 105.2 metres to 106.7 metres of 0.180 gold part per million.
Great Western Mining said it is now planning a follow-up sampling and ground geophysics programme at M1 to "target further drilling".
Chief Executive Officer David Fraser said: "The assay data from this M1 bore hole are very encouraging, successfully highlighting the potential already identified at surface on M1 and confirming a company view that M1 would become its third highly prospective copper-gold target within the Marietta property. Shareholders will be kept updated as plans progress."
Shares in Great Western Mining were up 6.4% Monday at 0.75 pence each.
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