Great Western Mining Corporation is encouraged by positive results from a study on a relatively small section at its copper-gold exploration target M2 in Marietta, Nevada.
GWM reports has reported a ‘good resource upgrade’ from the first stage of a JORC compliant scoping study carried out by Nevada-based mining engineer W.T. Cohan.
The study involved independently verifying the drill data on M2 and constructing a resource model using mining engineering software.
GWM said: “The current open-pittable M2 inferred resource is obtained from a 795-metre strike length, which the company has modelled as an iron oxide copper gold ‘stringer’ zone projecting up-dip from a thicker, more consistent, and higher grade IOCG core hosted mainly in diorite beneath the Sharktooth peak of Bass mountain.
“The favourable geological environment for IOCG mineralistion beneath Bass mountain is almost 4 km long, over 1 km wide and open to further south west extension.”
The company said it looked forward to further updating shareholders once the technical scoping study has been received, and with the progress of further field work on M2, scheduled for this spring.
Chief executive David Fraser said: “This is a good resource upgrade from the first stage of the scoping study.
“It is encouraging to receive such positive results from a relatively small section of the M2 potential.
“We look forward to updating shareholders with the results from the study and as work continues on M2.”
At 8:08am: (LON:GWMO) Great Western Mining Corporation PLC share price was +0.15p at 0.62p
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