Great Western Mining Further Plans For M2 And M4 Drilling Programmes

LONDON (Alliance News) - Copper, gold and silver mining company Great Western Mining Corp PLC ...

Alliance News 14 September, 2017 | 12:22PM
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LONDON (Alliance News) - Copper, gold and silver mining company Great Western Mining Corp PLC said it has signed contracts with O'Keefe Drilling Co for the drilling programmes on the M2 and M4 copper-gold prospects in Nevada.

The drill rig is currently mobilised on site and drilling is expected to start in the middle of October and will continue until the end of the year. Seven drill holes are planned for a total of 800 metres.

The M2 programme is currently targeting an extension and increase in the resources estimated in the JORC Indicated category. Currently, the resources estimate is 17.0 million tonnes of 0.52% copper, with 3.9 million indicated and 13.1 million inferred.

The M4 programme is a discovery level programme of six to nine fill holes totalling 950 metres, with the aim being to test the thickness of the identified surface copper oxide mineralisation, and intercept anomalies indicated by Great Western's Resistivity report.

The company's field team is currently preparing access roads, flagging out the over land routes, supervising bulldozing and preparation of equipment and documentation. They are also helping to plan further lithological and alteration sections to refine the Sharktooth exploration target drill hole locations, in preparation for a discovery level drill programme planned for early 2018.

"We are excited by the potential to further enhance the JORC status of the M2 prospect. The drilling is also set to provide further insight into the mineralisation at M2 and M4, which we believe could prove to be continuous, highlighting the significant potential of the area. The company has also allocated funds to a discovery level drill programme on our Sharktooth exploration target, which we will look to commence as soon as the weather permits in early 2018," said Chief Executive Officer David Fraser.

Shares in Great Western Mining Corp were down 9.4% at 1.31 pence on Thursday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Great Western Mining Corp PLC 1.23 GBX -1.20 -
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