Great Western Mining highlights positive M1 soil sampling results

Great Western Mining said soil samples carried out on its M1 prospect in the US revealed widespread anomalous mineralisation, with a high reading for copper of 2,467 parts per million, and a gold reading of up to 248 parts per billion spread over a large area.

There were also anomalous readings of arsenic, bismuth, cadmium, lead, silver and titanium.

The mineral exploration company said it will follow up these results by continuing the soil sampling westwards along M1 with the objective of establishing a well-developed mineralised trend, which would become one or more highly valuable drill targets.

The M1 prospect is on the west side of the Huntoon Valley, around 8km west of Target 4, where the company is currently awaiting permit approval to commence a Phase 1 discovery level drilling programme. The M1 block surrounds the six patented claims that make up the Huntoon Mine, where gold-copper ore was mined between 1906 and 1925.

Chief executive David Fraser said: "This is positive news from our 2015 field programme and these initial results suggest that M1 has the potential to become the company's third major copper-gold target in the Marietta District significantly enhancing shareholder value.”

At 1334 BST, shares were up 6.5% at 0.5699p.