Business
Additional Claims Staked In Eastside Mine/Tango
Additional Claims Staked In Eastside Mine/Tango.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n\nGREAT WESTERN MINING CORPORATION PLC\n(\"Great Western\" or the \"Company\")\n \nADDITIONAL CLAIMS STAKED IN EASTSIDE MINE/TANGO AREA\n \nGreat Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver and copper targets in the Walker Lane belt of Nevada, USA, announces the staking of 78 new claims in the Eastside Mine/Tango area.\n \nHIGHLIGHTS\n· Eastside Mine/Tango project expanded\n· Supplemental pooling agreement signed with Bronco Creek Exploration\n· Great Western has a 30% interest in 78 additional claims staked\n \nGreat Western Chairman Brian Hall commented: \"In a political and economic environment where domestic US copper is becoming an increasingly interesting proposition, increasing the scale of the Eastside Mine/Tango project through staking 78 additional claims is an exciting development for Great Western. Our original claims at Eastside Mine covered 371 acres. Thanks to the Bronco Creek pooling agreement and the additional claims announced today, Great Western is now a 30% participant in a project covering 2,823 acres and we look forward to further developments.\"\n \nIn 2024 Great Western entered into a pooling agreement with Bronco Creek Exploration (\"BCE\"), a wholly owned subsidiary of EMX Royalty Corp., under which the Company's Eastside Mine claims were pooled with BCE's adjoining ground (the \"Tango\" claims) to create a larger unit which consolidates a primary porphyry copper target. Eastside/Tango is located approximately 18 km southeast of Great Western's Huntoon Copper Project and is therefore one of two porphyry copper prospects identified in the last two years in which the Company has a direct interest.\n \nFollowing a review of data, BCE decided to stake 78 claims in an agreed Area of Mutual Interest consisting of a one-kilometre halo around the pooled Eastside Mine/Tango area. Pursuant to the pooling agreement, Great Western has exercised its option to have the additional 78 claims form part of the properties covered by the pooling agreement in which Great Western has a 30% participation. Acquisition of these claims comes at no immediate cash cost to Great Western because the Company's share of acquiring the additional claim...