Great Western Mining Corporation PLC (AIM:GWMO) has agreed on an acreage pooling partnership with Bronco Creek Exploration for its copper exploration activities, a company update revealed.
This agreement focuses on unlocking the copper potential within the Eastside Mine group of claims, situated in Mineral County, Nevada.
Located approximately 11 miles southeast of Great Western's primary exploration focus in the Huntoon Valley, the Eastside Mine claims will be pooled with Bronco Creek's adjoining Tango Project.
The combined area, referred to as the "Pooled Project," will be operated by Bronco Creek, which aims to advance the porphyry target identified in the region.
Under the terms of the agreement, Great Western and Bronco Creek will share the benefits and liabilities, with Great Western holding a 30% interest and Bronco Creek 70%.
Importantly, while both companies are pooling their resources, they will retain ownership of their respective claims, and no formal joint venture will be established.
Brian Hall, chairman of Great Western Mining, said: "We are very pleased to be working with Bronco Creek on this project. We have long considered Eastside Mine to be a valuable asset and in recent times have conducted an IP survey over the area, resulting in the identification of drill targets.
“By pooling acreage into a much bigger unit and working with a larger and well-resourced company, we are implementing our strategy of attracting funding at the project level without recourse to shareholders."