Business
New Mineral Venture in Nevada
New Mineral Venture in Nevada.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n \n RNS Number : 6870N\n Great Western Mining Corp. plc\n 22 May 2020\n \n \n \n \n \n \n \n \n \n \n GREAT WESTERN MINING CORPORATION PLC\n \n \n (\"Great Western\" or the \"Company\")\n \n \n \n \n \n New Mineral Venture in Nevada\n \n \n \n \n \n Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing multiple early-stage gold, silver and copper targets in Nevada, announces the signing of an option agreement with Nevada Select Royalties Inc., a subsidiary of Ely Gold Royalties Inc., to acquire 48 mineral claims in Nevada, the \"Olympic Gold Project\", which are prospective for gold and silver. \n \n \n \n \n \n Highlights\n \n \n · \n Historic gold and silver mining property with potential for further discoveries \n \n \n · \n Surface exploration has identified at least four main gold-silver targets\n \n \n · \n Previous production grades of 25 g/t gold and 30 g/t silver\n \n \n \n \n \n Olympic Gold Project\n \n \n The Olympic Gold Project\n is located 30km south-east of Gabbs in the Cedar Mountains, Mineral County, Nevada within the Bell Mining District and consists of 48 unpatented lode claims located on federal land and managed by The Bureau of Land Management. 41 of these claims are known as the \"Olympic Group\" and the remaining 7 as the \"NOM Group\". Together the claims cover 825 acres. \n \n \n \n \n \n Great Western believes that the project represents a highly attractive addition to its existing assets in Nevada and a building block for the future growth of the Company in its hunt for precious metals and other minerals. The Company is already well established in Mineral County, Nevada, having six existing lode claim groups with established potential for gold, silver and copper, together with a Company-owned base at Marietta and a Company-owned warehouse at Hawthorne. The Olympic Gold Project can be serviced by Great Western's existing facilities and personnel.\n \n \n \n \n \n The Olympic Gold Project encompasses a large volcanic-hosted epithermal precious metal (gold and silver) system that includes both high-grade veins and lower grade disseminated mineralisation. Between 1917 and 1942 the shallow underground OMCO Mine on the property produced approximatel...