Great Western Mining Corporation PLC (AIM:GWMO) chair Brian Hall has cheered what he described as “very exciting” final assay results from the summer’s drilling in the OMCO Mine area of the {{0|Olympic gogold project, Nevada.
The results confirm that the OMCO Mine vein was intercepted, and, an extension to the OMCO Mine area has now been established, the company noted.
Gold mineralisation was recorded over a 6.1 metre interval, in the highlight assay results, with the best intercept measuring 8.1 grams per tonne gold over a 1.5 metre section. The company noted that the vein extension remains open to the southeast (adjacent to old mine workings) and this will be explored further in the future.
“We have drilled a number of holes in the vicinity of the abandoned OMCO Mine that yielded high grades of gold for several decades until the 1940s,” Hall said in a statement.
“Assay results tell us that we have now intercepted an extension of the OMCO vein itself, one of our key objectives, encountering vein material beyond the known limits of the old workings. Significantly, the trend is open to the southeast in unexplored acreage adjacent to the old workings. This is a very exciting result which will enable us to home in on the potential of the asset," the company's chair added.
Great Western Mining noted that other holes in the 2022 drill programme intersected lower-grade gold zones, and, the data will support the modelling of the broader mineralising systems, potentially helping the company locate the potential for increased grades on those horizons.
Meanwhile, the sampling and analysis of stockpile material at the Olympic Gold site is advancing with a UK-based consultancy appointed to prepare a report. Some of the results to date are expected to support a new independent resource estimation from the stockpile material, the company said.