Great Western Mining (LSE:GWMO) has completed the site preparation work required to begin drilling at its Defender Tungsten Project in Mineral County, Nevada, with drilling expected to commence during the first half of August. Preparations have included geophysical surveys, geological mapping, trenching, road improvements and the construction of drill pads, providing the groundwork for a programme designed to enhance understanding of the project’s geology.
The company has also appointed Addison Mining Services as the independent Competent Person to prepare the maiden JORC-compliant mineral resource estimate for the Defender project. Principal Geologist Lewis Harvey will oversee onsite geological logging, data collection and quality assurance throughout the drilling campaign.
Laboratory assay results from the drilling programme, together with findings from metallurgical bulk sample testing, are expected during September and October. Great Western Mining said it remains fully funded to complete the work and is targeting publication of its initial JORC mineral resource estimate before the end of the fourth quarter of 2026.
The company’s outlook continues to be influenced by weak financial performance, reflecting the absence of revenue, ongoing losses and negative free cash flow. These factors are partly offset by a debt-free balance sheet, which provides financial stability as exploration activities progress. Technical indicators also remain subdued, with the shares trading below their 20-day and 50-day moving averages alongside a negative MACD reading. Valuation remains difficult to assess while the company is loss-making and does not pay a dividend.
More about Great Western Mining
Great Western Mining Corporation PLC is a mineral exploration and development company focused on a portfolio of wholly owned mining claims in Mineral County, Nevada. The company is increasing its exposure to tungsten, a strategically important critical mineral, while also advancing its Huntoon Copper Project, which hosts an existing JORC-compliant mineral resource.
Alongside its copper and tungsten projects, Great Western Mining continues to explore for gold and silver across its Nevada assets and is pursuing opportunities in tailings reprocessing to unlock additional value from historic mining operations.
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