Great Western Mining Corp PLC on Thursday said it has staked 78 new claims in the Eastside Mine/Tango project area in the US, via an existing pooling deal.

Shares in Great Western Mining were up 15% at 0.011 on Friday afternoon in London. The stock remains down 78% over the past year, however.

The Nevada-focused gold, silver and copper explorer said the claims were part of a pooling agreement with Bronco Creek Exploration, a subsidiary of EMX Royalty Corp, under which Great Western’s Eastside Mine claims were pooled with Bronco Creek’s adjoining ground, known as Tango.

This created a larger unit which consolidates a primary porphyry copper target, around 18 kilometres southeast of Great Western’s Huntoon copper project.

Following a review of data, Bronco Creek decided to stake 78 claims in an agreed area of mutual interest involving a one-kilometre halo around the pooled Eastside Mine/Tango area.

Great Western subsequently exercised its option to have these 78 claims form part of the properties covered by its pooling deal with Bronco Creek, in which Great Western has a 30% participation.

The claim acquisitions come at no immediate cash cost to Great Western, as costs are offset against credit from previous geophysical expenditure shared with Bronco Creek.

‘In a political and economic environment where domestic US copper is becoming an increasingly interesting proposition, increasing the scale of the Eastside Mine/Tango project through staking 78 additional claims is an exciting development for Great Western,’ said Chair Brian Hall.

‘Our original claims at Eastside Mine covered 371 acres. Thanks to the Bronco Creek pooling agreement and the additional claims announced today, Great Western is now a 30% participant in a project covering 2,823 acres and we look forward to further developments.’

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