Great Western Minerals Group Selects Drill Contractor for Steenkampskraal Rare Earth Project
September 08 2011 - 9:00AM
Marketwired
Great Western Minerals Group (TSX VENTURE: GWG) (OTCQX: GWMGF)
("GWMG") is pleased to announce the selection of Drillcorp Africa
(Pty) Ltd. ("Drillcorp") as the drill contractor for the upcoming
exploration and resource evaluation program at the Company's
Steenkampskraal Rare Earth Element ("REE") project in South Africa.
Drillcorp is a highly experienced, South African-based drilling
team that has been in business throughout Africa since 1988. With
45 rigs currently operating throughout South Africa, Drillcorp
provides diamond core drilling to depths of 3,000 meters along with
reverse circulation, underground, and percussion drilling
services.
The first objective of the program, which will be fully underway
by September 14, is to provide geological information,
metallurgical characterization, and assay data in support of a
fully compliant National Instrument 43-101 ("NI 43-101") resource
estimate report on potential ore material stockpiled at surface as
well as underground in-situ material. The second objective is to
expand the resources at Steenkampskraal through testing the
down-dip extension of the main structure as well as full
investigation of the encasing host rock mineralization.
GWMG President and Chief Executive Officer Jim Engdahl said,
"This is yet another pivotal moment in the progress of GWMG at
Steenkampskraal with the launch of an exploration program at site
designed to confirm previous data and produce an NI 43-101 resource
estimate."
John Pearson, MSc, P.Geo, Vice-President Exploration for GWMG,
is the qualified person responsible for reviewing the contents of
this news release.
Great Western Minerals Group Ltd. is an integrated Rare Earths
processor. Its specialty alloys are used in the battery, magnet and
aerospace industries. Produced at the Company's wholly owned
subsidiaries Less Common Metals Limited in Birkenhead, U.K. and
Great Western Technologies Inc. in Troy, Michigan, these alloys
contain aluminium, nickel, cobalt and Rare Earth Elements. As part
of the Company's vertical integration strategy, GWMG also holds
100% equity ownership in Rare Earth Extraction Co. Limited, which
owns a 74% equity interest in the Steenkampskraal Mine. In addition
to a planned exploration program at Steenkampskraal, GWMG also
holds interests in four active Rare Earth exploration and
development properties in North America.
Certain information set out in this News Release constitutes
forward-looking information. Forward-looking statements (often, but
not always, identified by the use of words such as "expect", "may",
"could", "anticipate" or "will" and similar expressions) may
describe expectations, opinions or guidance that are not statements
of fact and which may be based upon information provided by third
parties. Forward-looking statements are based upon the opinions,
expectations and estimates of management of GWMG as at the date the
statements are made and are subject to a variety of known and
unknown risks and uncertainties and other factors that could cause
actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements. Those
factors include, but are not limited to, the results of the
exploration program, a resource estimate and commencement of
production at Steenkampskraal, satisfaction of the conditions
precedent with respect to GWMG's offtake agreement, receipt of all
required approvals (including those relating to the commencement of
production at the Steenkampskraal mine) and risks, uncertainties
and other factors that are beyond the control of GWMG, risks
associated with the industry in general, commodity prices and
exchange rate changes, operational risks associated with
exploration, development and production operations, delays or
changes in plans, risks associated with the uncertainty of reserve
or resource estimates, health and safety risks and the uncertainty
of estimates and projections of production, costs and expenses. In
light of the risks and uncertainties associated with
forward-looking statements, readers are cautioned not to place
undue reliance upon forward-looking information. Although GWMG
believes that the expectations reflected in the forward-looking
statements set out in this press release or incorporated herein by
reference are reasonable, it can give no assurance that such
expectations will prove to have been correct. The forward-looking
statements of GWMG contained in this News Release, or incorporated
herein by reference, are expressly qualified, in their entirety, by
this cautionary statement and the risk factors contained in GWMG's
current annual information form available at www.sedar.com.
CUSIP: 39141Y 10 3
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Great Western Minerals Group Ltd. Dwight Percy Manager
of Investor Relations (306) 659-4500 Great Western Minerals Group
Ltd. 219 Robin Crescent, Saskatoon, SK S7L 6M8 info@gwmg.ca
www.gwmg.ca
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