Great Western Mining encouraged by latest drilling at Mineral County

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Great Western Mining PLC (LON:GWMO) said its drilling campaign in Mineral County, Nevada, continues apace and within budget.

In a stock market update, the company said the latest drilling results have been encouraging.

At the West Ridge target, hole OMRC-7 intercepted moderate-to-strong argillic alteration within a rhyodacite unit from surface to a depth of 115 feet (35.1 metres) down-hole. This was followed by a zone of strong silicification down to 160 feet (48.8 metres). Within the silicified rhyodacite, vuggy quartz veining was logged between 140 feet (42.7 metres) and 150 feet (45.7 metres) downhole, which is expected to correlate with the mapped veins on the surface that were successfully mined in the past.

Beneath the veining, further strong argillic alteration occurs in conjunction with an increase in metal sulphides until the end of the hole at 500 feet (152.4 metres), Great Western said.

The drilling rig then moved to the OMCO Mine extension prospect, where the drilling of hole OMRC-8 has been completed.

The drill hole intercepted argillic alteration from the surface, which gradually altered into strong silification from 45 feet (13.7 metres) down-hole.

From 45 feet (13.7 metres) to 100 feet (30.5 metres), silicification was accompanied by vuggy quartz veining and micro comb quartz intervals. Beneath this, further argillic alteration was encountered throughout the hole, interspersed with silicification and disseminated metal sulphides, until the end of the hole at 395 feet (120.4 metres).

Great Western believes the zone of quartz veining intercepted between 45 feet (13.7 metres) and 100 feet (30.5 metres) is analogous to the Olympic Vein along strike to the north-west, and could well mark its southerly continuation.

The rig has now been moved to the eastern side of the OMCO fault, to continue the OMCO Mine extension drill programme over anomalies identified by a magnetometer survey conducted in 2020. Three further holes in this zone will complete the initial Olympic Gold Project drilling programme.

Great Western said that laboratory assay results from the first four of the six holes drilled at Trafalgar Hill are expected by the end of this month or in early June. Results from the latest two holes will probably be available in June, it added.

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