(Alliance News) - Great Western Mining Corp PLC on Thursday said it discovered a "substantial" area of anomalous gold in soil samples at its M5 prospect in the Jack Springs claims group in Mineral County, Nevada.
The company exploring gold, silver and copper targets in Nevada, US, said it found a trend over one kilometre long of anomalous gold greater than 10 parts per billion, and several continuous zones of higher grade greater than 25 parts per billion.
It also said it found 10 new grab samples, including one with 5.14 grammes per tonnes of gold, 1,246 grammes per tonnes of silver and 0.32% of copper.
This indicates the polymetallic nature of the prospect, Great Western Mining said.
Outlier soil results included areas with over 100 parts per billion of gold, including areas of 246, 145 and 130 parts per billion of gold.
"These new results over the M5 prospect on the Jack Springs claims have identified another strong target for exploration on the Great Western claims. We are seeing the benefits of intensive and continuous geological field work over the spring, summer and autumn of this year and are very excited by the laboratory results at a number of prospects," said Chair Brian Hall.
"The results of this field work, together with the indications of a possible copper porphyry at the Huntoon copper project, announced on November 16 and with the potential to dwarf the existing resource already established at the nearby M2 claims, underline our belief in the great potential of our 60 square kilometres of claims in the prolific Walker Lane Belt of Nevada."
Shares in Great Western Mining closed down 5.3% to 0.045 pence each in London on Thursday.
By Greg Rosenvinge, Alliance News senior reporter
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Great Western (GWMO)