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(Alliance News) - Great Western Mining Corp PLC on Thursday said it plans to construct a production mill in the first half of 2023, with exploration set to begin following assay drilling results.
The Nevada-focused gold, silver and copper project developer said its joint venture with Western Milling LLC will meet the Nevada Department of Environmental Protection in mid-January to review plans for its processing mill, with construction and commissioning expected to take place in the first half of 2023.
The project is "making good progress," the company said.
At its Trafalgar Hill project, the company reported that drilling results confirmed potential in the area, identifying the longest intercept of anomalous gold at the site to date, at 21.34 metres at 0.107 grams of gold per tonne.
Great Western also carried out first drilling at the Mineral Jackpot historic gold and silver mines, where it "believes there are considerable volumes of gold and silver ore yet to be discovered".
The company said that if follow up drilling generates positive results, "subsequent successful estimation of resources and reserves, small-scale mining would be relatively straightforward at these depths and material recovered could be processed through the milling joint venture."
At the Olympic Gold Project, the company said its OMCO vein discovery will be expanded by drilling angled holes, which will be given priority in early 2023, in order to seek extensions to the vein, with follow-up drilling possible if successful.
Chair Brian Hall said: "The transition into a revenue generating precious metals producing entity, underpinned by an exceptional portfolio of assets, will be a significant milestone for the Company. We have a targeted work programme in place for the coming year, on which we expect to deliver, pending developments, during the period."
"We believe that the Company provides a well-balanced blend of production and exploration across a variety of metals at the same time as a number of catalysts for a potential rerating," he said.
Great Western Mining shares were trading 3.7% lower at 0.13 pence per share on Thursday morning in London.
By Harvey Dorset, Alliance News reporter
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