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CALL: Adviser & Broker: +353 (0)1 679 8727 Financial PR UK & IR: +44 (0) 207 933 8780
LON: GBp p (%)
Great Western Mining Corporation PLC is a mineral exploration and development company, registered in Ireland with operations in the USA. Its widely-held shares are traded on the AIM sector of the London Stock Exchange and on the Euronext Growth Market. Great Western has a single class of ordinary share and no corporate debt.
The Company has a large tract of acreage in Mineral County, Nevada. The area consists of rugged, mountainous terrain, which means that large parts of it remain under-explored. Mineral potential is hosted by the regional Walker Lane Structural Belt, the largest structural and metallogenic belt in Nevada, yet one of the least explored in recent times, with gold, silver and copper currently produced in Mineral County. Great Western has seven distinct concession areas which offer the potential for exploiting (1) short term gold and silver deposits and (2) long-term, world-class copper deposits.
Six of the Company’s properties are in the west of Mineral County and are 100% owned and operated. The Company has an option to acquire a seventh property, the Olympic Gold Project, in the east of the county. Great Western’s small exploration team is supported by locally based consultants and contractors.
The state of Nevada is generally considered to be one of the world’s most mining friendly jurisdictions. While tightly regulated and environmentally conscious, Nevada welcomes the mining industry. Great Western takes care to ensure that its claims are maintained in good standing and all regulations observed.
GOLD AND SILVER POTENTIAL
There are numerous gold and silver prospects on the Company’s acreage, including extensive historic mine workings which offer the opportunity for secondary recovery. In 2020 the team is working on (1) the Mineral Jackpot group of mine workings, which comprise five old mines, where it is using modern technology to establish connectivity between them for further exploitation and (2) The RH Group (Rock House) of claims which has never previously been mined but where mineralisation has been identified through satellite imagery. Soil sampling and processing of outcropping rocks have already established the presence of gold and silver at the RH Group
In 2020 Great Western signed an option purchase agreement to acquire the rights to exploit the Olympic Gold Project in Mineral County, approximately 50 miles from the existing claims. This project has multiple gold and silver prospects but initial focus is on a prospect known as the OMCO Mine Extension where initial survey work has commenced.
Great Western’s 2020 work programme is primarily focused on the:
Through extensive drilling over a five year period, GWM has established a Mineral Resource on its first target area known as M2, of 4.3 million tonnes 0.45% copper, for 19,000 tonnes of contained copper metal. This resource has been independently reported in accordance with JORC guidelines.
Desk work continues on the copper potential but field work is currently focused on gold and silver which the Company believes offers the opportunity for earlier monetisation of its prospects.