Business
Audited Final Results for the year ended 31st D...
Audited Final Results for the year ended 31st D....
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n\n28 May 2010\n\n GREAT WESTERN MINING CORPORATION PLC\n\n (\"Great Western Mining\", \"GWM\" or the \"Company\")\n\n Audited Final Results for the year ended 31st December 2009\n\nChairman's Statement\n\nFive years ago the first Great Western Mining claim stakes were hammered into the rocky, barren soil of Bass\nMountain, high above Teels Marsh on its eastern flank and Huntoon Valley on the western flank. The total of 21\nclaims of approximately 20 acres each were registered that year based on the geological files of an earlier\nprospector, Dan Bracket, who had prospected for half a lifetime in the nearby ghost town of Marrietta, Nevada.\n\nAt the close of 2009 the area under claim has been extended to 373 full claims and 37 partial claims for a total\nof 410 claims covering some 33 square kilometers in all.\n\nThis massive increase in land under mineral claim followed extensive surface sampling of trenches, pits and adits\nacross our area of interest. Such were the results of analytical laboratory testing and resulting geological\nmodeling, that extending the area under claim took precedence over other considerations. This decision was\nvalidated by the Competent Person's Report of September 2009 and subsequent update in March of this year. It may\neven induce your Company to extend acreage further as more test results come available.\n\nDriven by a seemingly insatiable demand from Asia for copper to build out the sinews of an emerging super power,\nfor uranium to fuel nuclear plants, as well as gold and silver, the unique treasure box of Nevada's geologically\nactive landscape is drawing-in mineral exploration companies in growing numbers.\n\nAt the moment there has been considerable staking activity by Canadian (ESO Uranium Ltd., TSX) and American\nexploration groups adjoining or in the vicinity of GWM. Extensive radon testing has been carried out by one of the\ngroups immediately adjacent to Great Western Claims and overlapping in some cases. The highest radon readings came\nfrom this area.\n\nWhile surface mapping, sampling and geo-physical surveys may not excite the blood in the way core hole drilling\ndoes, it is nonetheless the most cost effective means of exploration by far. It benefits the Company little if\ndrilling proves up a valuable resource only to see Canadian or other exploration groups jump in to snap up...