Great Western Corporation PLC has completed a 10-hole drilling programme at the OMCO Mine area of the Olympic Gold project in Mineral County, Nevada.
Following a three-hole drill project at the nearby Trafalgar Hill prospect, reverse circulation drilling began in the area of the former OMCO Mine, which produced gold at grades of between 25 and 30 grams per tonne and silver at 30 grams per tonne until the 1940s.
The drilling totalled 1,339 metres in the OMCO Mine area and assay results are pending.
Five of the holes were drilled over parts of the OMCO vein which had been mapped as unmined and never previously drilled.
These five holes intercepted quartz chip zones of between one and three metres in thickness, at depths ranging from 25 metres to 45 metres, consistent with the predicted thickness and depths of the vein.
The remaining five holes delivered visual indications of alteration and veining.
Four further very shallow holes were drilled to evaluate a stockpile of previously mined material for future processing.
"The initial indications from all these holes are very encouraging,” said Great Western’s chairman Brian Hall.
“By far the most significant development is the apparent identification of unmined portions of the OMCO vein itself. Should laboratory analysis establish grades of gold comparable to those achieved from material mined in the past at the main OMCO vein, a shallow gold resource could potentially be defined and expanded in short order, with minimal additional work. We cannot determine the timing of the assay results as all the laboratories in the area are currently overworked but we will update shareholders as soon as they are available."