LONDON: The UK-based Great Western Mining Corporation (GWMC) has finalized the acquisition of the Olympic Gold Project in Mineral County, Nevada, from Nevada Select Royalty Inc., a subsidiary of Gold Royalty Corp. The deal, valued at $150,000, grants GWMC ownership of 48 claims over 825 acres, including the historic OMCO gold mine, and an additional 12 claims staked in 2021.

Over the four-year option period, GWMC conducted extensive exploration, drilling 28 holes totaling 4,243 meters across three prospects. Notable findings include a new vein extension at the OMCO Mine site and high-grade gold at the Trafalgar Hill prospect. The unexplored Rhyolite Dome prospect showed promising soil sample results, with plans for a geophysical survey to identify drill targets.

The acquisition also includes significant tailings and stockpiles at the OMCO Mine site, with an independent report revealing an Inferred Resource of 31,000 tonnes with gold and silver grades. These will be processed through GWMC’s joint venture, Western Milling, marking the first extraction of gold and silver concentrates from the site.

Great Western Chairman Brian Hall commented:  “The Olympic Gold Project has become an important component of our exploration activity as well as a potentially key source of feedstock for our milling operation, which is ready to start operations once an environmental permit is in place. We are very pleased to have been able to move Olympic from option status to a fully integrated part of our portfolio.”

Great Western Mining Corporation signs new mineral venture in Nevada