Great Western Mining Corp PLC - exploring gold, silver and copper targets in Nevada - Announces ‘material upgrade’ in the Huntoon project’s copper potential. Reports ‘clear evidence’ in the Huntoon Valley area of a previously unidentified copper porphyry system. Says field evidence from across the area suggests a large sub-cropping magmatic-hydrothermal system, and that other nearby projects ‘continually’ provide evidence for other such systems in the region. If the valley does contain this ‘major’ new porphyry, the previously established resource at the M2 prospect would ‘only be a peripheral component’ to it.
Chair Brian Hall says: ‘Great Western has been working hard in this area for several years now but the work carried out in 2023 has the potential to transform the company, should a major porphyry be established, in a world transitioning from hydrocarbons where copper will become increasingly important. This is an exciting development for Great Western.’
Current stock price: 0.052 pence, up 12% on Thursday morning in London
12-month change: down 57%
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