Great Western Mining receives approval to begin drilling in Nevada

Great Western Mining advanced Wednesday after receiving regulatory approval to begin drilling operations in Nevada.

Great Western Mining advanced Wednesday after receiving regulatory approval to begin drilling operations in Nevada.

The mineral exploration company was given the green light by the Bureau of Land Management to start work on the Target M2 project.

Great Western is partnering up with Montana-based O'Keefe Drilling and expects operations to commence shortly.

Until recently, relative inaccessibility and difficulty of the terrain close to site rendered drilling operations impractical.

In late 2012 Great Western uncovered an abandoned county road which yielded easier access with minimal upgrading expenditure.

A planning application for drilling at Target 4 has also been submitted to the relevant authority.

"The board is delighted to be in the position to begin drilling and to test this portion of the company's land claims in the historically prolific Walker Lane Trend of Nevada," Executive Chairman, Emmett O'Connell, said.

"We have long considered M2 to be of great interest but the access we have established now makes it our prime target for drilling, over and above Target 4, which was previously prioritised by the company for ease of access, and we enthusiastically look forward to commencing our first drilling operations there. We will report back to shareholders when we have completed the drill programme and when we receive results."

Shares climbed 7.69% to 3.50p at 10:40 Wednesday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020