12th Aug 2024 10:18
(Alliance News) - Great Western Mining Corp PLC on Monday said that it has entered a pooling agreement with Bronco Exploration Inc to develop its copper potential.
The deal pools each party's respective project, these being the Eastside Mine claims in Nevada for Great Western, and the Tango project adjoining Eastside for Bronco, and will consolidate a primary porphyry target.
Bronco will be the operator of the pooled project. Benefits and liabilities will be shared according to the ratio of claims held by each party - meaning 30% will go to the Nevada-focused gold, silver and copper explorer, and 70% to Bronco.
"We are very pleased to be working with Bronco Creek on this project. We have long considered Eastside Mine to be a valuable asset and in recent times have conducted an IP survey over the area, resulting in the identification of drill targets," said Executive Chair Brian Hall.
"By pooling acreage into a much bigger unit and working with a larger and well-resourced company, we are implementing our strategy of attracting funding at the project level without recourse to shareholders."
Shares in Great Western Mining Corp were trading 0.8% higher at 0.039 pence each in London on Monday morning.
By Holly Beveridge, Alliance News senior reporter
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