Great Western Share News (GWMO)

(Sharecast News) - Nevada-focussed gold, silver and copper explorer and developer Great Western Mining updated shareholders on its 2022 approved drilling programme on Tuesday.
The AIM-traded firm said four drill targets were prioritised for the first stage of the programme, with start-up scheduled for early spring, as soon as ground conditions permitted.

It said 23 holes were planned at Trafalgar Hill, OMCO and Rock House, with the drill programme being funded from its existing cash reserves.

At Trafalgar Hill, it said five holes totalling 3,310 feet would be drilled to follow-up the "encouraging" 2021 results, with the aim of tracking the structure to the south and east of the existing intercepts.

In the deeper zone, an induced polarisation (IP) survey would most likely be carried out for better target definition, before further drilling.

At the OMCO Mine Extension, the company said drilling this year would attempt to zone in on the main target, and would also test other potential vein mineralisation in the vicinity of the OMCO Mine.

The company said that after reviewing work carried out by previous claim holders at OMCO Mine South, it believed that the wall rocks to the abandoned OMCO Mine vein workings could host "appreciable quantities" of gold, not mined during previous operations.

In 2022, that would be addressed by drilling through the mined portions of the OMCO vein, which had never been previously attempted.

It said 13 holes, expected to total 7,285 feet, were planned in the OMCO area.

At the Southern Alteration Zone in the Rock House Group, meanwhile, Great Western said the objective of the 2022 programme would be to uncover further extensions to the identified mineralisation along-strike to the west, with deeper drilling aiming to establish whether the zone contained significant dip extents.

The programme would test a potential increase in zone thickness and grade where narrow structures coalesce, either along-strike or down-dip.

Five holes totalling 2,380 feet were planned at Rock House.

"Following our successful 2021 drill results we have an excellent slate of targets and are looking forward to starting field work in the spring," said chairman Brian Hall.

"During the winter Great Western Mining's team has been working intensely on the selected prospects and a well-thought out programme reflects the results of their efforts.

"Rock House had never been drilled prior to 2021 and follow-up drilling this year will be exciting."

Hall said that at Olympic, the firm had a target range of 450,000 to 1,250,000 ounces of gold from a combination of all the prospects, adding that a successful drill campaign at either the OMCO Mine Extension or Trafalgar Hill could be "transformational" for the company.

"In addition to the programme announced today, we have a rich pipeline of further targets to address later in the year.

"We will keep shareholders advised on progress."

At 1430 GMT, shares in Great Western Mining Corporation were down 6.85% at 0.12p.