Great Western Minerals Group Provides Update on Steenkampskraal Rare Earth Drill Program
November 29 2011 - 8:35AM
Marketwired
Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (OTCQX:GWMGF)
("GWMG" or the "Company") is pleased to provide a progress report
on the Company's drill program at its Steenkampskraal rare earth
mine site in South Africa.
26 coreholes totaling 2,307 meters have been completed,
including 19 holes dedicated to metallurgical mini-bulk sampling
and 7 for geological resource delineation.
Jim Engdahl, President and Chief Executive Officer of GWMG
stated, "Our drilling and sampling program will continue to
mid-December, 2011. This moves us toward completion of two goals at
Steenkampskraal - first, to provide information in support of a
fully compliant National Instrument 43-101 resource estimate report
and second, to expand the resources at Steenkampskraal through
testing the down-dip extension of the main structure as well as
investigation of the encasing host rock mineralization."
For metallurgical testing, clusters of drillholes with a variety
of bearings and inclinations were situated around a central
resource definition corehole on selected locations to collect
representative samples of monazite mineralization. Intersections of
mineralization in metallurgical holes ranged from a few centimeters
to 3.55 meters along core length. These holes will be logged in
detail, measured for bulk density, and sampled for assay. In
addition, a representative selection of the resource definition
core has been identified and sampled for ongoing mineralogical and
textural studies. Resource definition holes encountered a
comparable range of true vein thicknesses,
The second major objective of the drill program is the step-out
designed to test the on-strike and down-dip extension of rare earth
mineralization of the Steenkampskraal deposit. Thus far,
approximately 185 kilograms, out of a proposed 600 kilograms, of
underground monazite sample has been collected by underground
channel sampling. Upon completion, this material will be submitted
for characterization studies.
Mintek of Johannesburg, South Africa has been selected to
conduct the metallurgical characterization necessary for
development of design criteria for ore beneficiation and rare earth
extraction at Steenkampskraal. Approximately 630 kilograms of
mini-bulk metallurgical sample from the surface tailings dam and
730 kilograms from the rock dump were submitted to Mintek earlier
this month.
As well, a total of 276 samples were collected by shallow tube
sampling on a 10 meter grid pattern covering the historic tailings
dam onsite. Assay samples from the resource definition coreholes
will continue to be collected through to mid-December. All assay
results will be reported as they are received from the laboratory
with the priority use of the data being for incorporation into the
metallurgical characterization of the potential ore, as well as
resource modeling report, which is contracted to SRK Consulting
South Africa.
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 an 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 refurbishment activities
and reliance on third parties to meet projected timelines, the
results of the exploration program at Steenkampskraal, 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) 659-4500info@gwmg.cawww.gwmg.ca Great
Western Minerals Group Ltd. 219 Robin Crescent Saskatoon, SK S7L
6M8
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