Great Western Mining Corporation PLC (AIM:GWMO) chairman Brian Hall said the first half had been an extremely productive period during which it made “significant progress” across its precious metals assets in Nevada.
Its aim is to fast-track into production a number of opportunities including spoil heap material.
It has now identified 51 such heaps. It has also determined that gravity separation can be used as a “viable production method” on one of those opportunities, in the aptly named Mineral Jackpot area.
Meanwhile, GWM’s exploration programme is yielding some impressive results with the latest data from Trafalgar Hill, West Ridge, Rock House and Olympic Gold catching the eye.
Hall said: “This was an extremely productive period for the company as we made significant progress across a number of our projects, with drilling and subsequent results highlighting the potential for precious metals over our large portfolio of assets in Nevada.
“We are focused on fast-tracking the exploitation of precious metals to achieve early gold and silver sales and are well funded both to extend our drill programme and to finance the first phase of a processing plant for spoil heap material."
The commentary came alongside interim results. They showed the loss for the six months to June 30 was £368,000. More importantly, GWM had £2.7mln of cash and equivalents.
“Looking ahead, the next phase of drilling is ready to start as soon as suitable rigs become available in the current tight market post-Covid,” investors were told.
“Plans will be developed for processing existing mined materials as soon as possible, with updates being provided as milestones are reached.”