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(Alliance News) - Great Western Mining Corp PLC said Wednesday its 2019 field programme in Mineral County, Nevada, US has shown "excellent" correlation with regional anomalous aeromagnetic lineations outlining the position of the Golconda Thrust Fault.
The Golconda Thrust Fault is an "extensive regional structure spanning Nevada and providing a major pathway for hydrothermal mineralisation", the company explained.
Great Western Mining added: "The gold-silver Candelaria mining district has historically been reported as the most westerly mapped extent of the contiguous Golconda Thrust Fault terrane."
However, studies carried out by the company showed discontinuous splays of the Candelaria-Golconda Fault west of the Candelaria mining district - which "directly intersects" structures and anomalies within the company's claims in the region.
"Great Western Mining's Golconda Claims therefore sit directly upon the projected western continuation of the fault system that hosts the gold-silver Candelaria mining deposits," the company added.
The company has six claim sites in the region, and between April and June, its field programme of mapping, rock chip sampling and soil sampling covered a total area of 47.6 square kilometres across four claims: TUB, JS, RH and EM.
Shares in Great Western Mining were 9.7% higher in London on Wednesday at 0.47 pence each.
