Great Western Mining has announced a large increase in mineral resources at its M2 copper-gold prospect in Mineral County, Nevada, following a comprehensive review by WT Cohan & Associates Inc as part of a JORC compliant scoping study.. GWM said resources were independently calculated from the results of reverse circulation drilling conducted by the company in 2013 and 2014.
These resources were calculated employing block modelling software and using 15.24 metre square x 1.52-metre-high blocks.
A cut-off grade of 0.20% copper was employed in the resource estimates.
Chief executive David Fraser said: "We are really pleased with this new resource estimate, and are confident of further upgrades as potential additional resources have been identified in an undrilled zone at the centre of the current strike.
"The Sharktooth Exploration Target estimate demonstrates the potential for very significant increases in Total Mineral Resource at M2.
"We look forward to updating shareholders once the full Scoping Study has been delivered and assessed by the company."
At 8:04am: (LON:GWMO) Great Western Mining Corporation PLC share price was +0.15p at 0.54p