Great Western Mining Corp PLC plans to starts its 2022 drill programme in the coming weeks, the exploration and development company said alongside its 2021 financial results.
It has already provided details of the 2022 drilling campaign, which covers follow-up work at its Rock House, Olympic Gold and Mineral Jackpot projects in Nevada, and said it is funded for the programme.
READ: Great Western Mining announces 23-hole drilling programme for 2022
The company, which has yet to generate revenue, saw its losses for 2021 narrow to €535,960 from €852,042 in 2020.
"In 2021 we launched our first drilling campaign expressly for gold and silver with highly encouraging results at both the Rock House group, never previously drilled or exploited, and the Olympic Gold project, over which we acquired a purchase option in 2020,” said executive chairman Brian Hall.
“This was a very busy period for the company, during which we made significant progress across our portfolio.
“During 2022 we are continuing our drill programme - and expect to make strong progress on our project for secondary recovery of gold and silver from mine tailings and ancient spoil heaps," he added.
Great Western ended 2021 with cash of €2.0mln, versus €2.3mln in 2020, and has no debt.