Great Western Mining Shares Rise on Exploration Progress at Historical Gold Mine in Nevada

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By Jaime Llinares Taboada

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Shares in Great Western Mining Corp. rose Monday after the company said it has identified unmined portions of the OMCO gold vein at its Olympic project in Nevada.

The mining company said initial indications from the first holes at the area of ​​the historical OMCO mine were very encouraging.

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Five of the holes intercepted quartz chip zones were consistent with the expected thickness and depth of the vein. The remaining five holes delivered visual signs of alteration and veining, Great Western Mining said.

“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,” Chairman Brian Hall said.

Shares at 0717 GMT were up 15% at 0.16 pence.

Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT

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Credit: www.marketwatch.com /

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