Great Western Mining Corporation PLC (AIM:GWMO) told investors it has a strong cash position as it laid out its plans for 2022.
"We anticipate a busy and productive year for Great Western on all fronts at an exciting time in the company's development', chairman Brian Hall said.
“At the time of writing our prospects are under deep snow during a severe winter but, in the spring, field operations will recommence in earnest and we will be ready for that,” he added.
The Olympic Gold and Rock House projects in Nevada are set for spring start-up following the signing of drilling contracts., a statement said.
At Olympic Gold, the plan is to initially track potential veins in the shallow area in Trafalgar Hill to follow up high grades seen last year.
Drilling at Rock House is to follow up the high gold grades established last year in the Southern Alteration Zone (SAZ).
Elsewhere, a road upgrade will open up the Mineral Jackpot project for both drilling and soil-heap recovery programmes and aerial surveys will be completed.
Olympic’s former gold mining site – the OMCO mine – is seen to host gold resources in tailings heaps, based on drilling last year, and, a volume calculation process is presently underway along with a gold recovery estimate. At present, though the company says confidence is high enough to proceed with a recovery project, planning is set to be finalised and that project is said to be on-track.
At the company’s Eastside Mine project survey results have revealed exciting copper potential which continues to be analysed by the company.
Great Western noted that the plan is to secure partners for the development of its copper potential which includes areas in the Black Mountain claims group where a late 2021 IP survey added ‘another strong target’.
Looking across the portfolio, Brian Hall said: “We have a broad range of excellent prospects for both precious and base metals, a first-class team in place to follow through on them and the funding to go to the next stage.”
The company noted that it had €2.04mln of cash at the start of 2022.