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LONDON (Alliance News) - Great Western Mining Corp PLC Tuesday said the soil samples carried out on its M1 prospect in May and June revealed widespread anomalous mineralisation, with a high reading for copper of 2,467 parts per million, and gold showing readings of up to 248 parts per billion spread over a large area.
The work carried out included 133 soil samples and 34 rock chip samples at the M1 prospect, which is on the west side of the Huntoon Valley in Nevada.
There were also anomalous readings of arsenic, bismuth, cadmium, lead, silver and titanium.
Great Western said it will follow up the results by continuing the soil sampling westwards along M1 with the objective of establishing a well-developed mineralised trend, which would become one or more highly valuable drill targets.
"This is positive news from our 2015 field programme and these initial results suggest that M1 has the potential to become the company's third major copper-gold target in the Marietta District significantly enhancing shareholder value. We look forward to updating shareholders with further progress," Chief Executive David Fraser said in a statement.
Shares in Great Western were trading up 6.5% at 0.570 pence midday Tuesday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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