(Alliance News) - Great Western Mining Corp on Friday reported further evidence of an extension to the Golconda fault corridor in the US state of Nevada.
In June, Great Western reported analysis suggested the Golconda-Candelaria fault intersected the southernmost's of its claims.
Great Western has carried out geological mapping over the entire 5.4 square kilometre EM Group claim, and also took 180 soil samples and 34 rock grab samples.
Copper oxide and iron oxide mineralisation is in quartz veins at the surface, Great Western said, with most north-east to south-west trending. Two faults are "immediately" prospective, the firm added.
The company is to now further refine soil sampling, it added, to more precisely locate the mineralisation. It will also carry out an induced polarisation and resistivity survey.
Chief Executive David Fraser said: "Our recent work at M8 provides further evidence of the potential westward extension of the Golconda Fault corridor into the Great Western claim area so that M8 now has the potential to become the company's fourth major copper target, indicating district style faulting within the licence area.
"We are now planning further soil sampling and an IP survey to delineate future drill targets and will provide further updates as analysis and work continues over the summer."
Shares were 0.2% lower on Friday at a price of 0.55 pence each.
Great Western (GWMO)