Great Western Minerals Group Completes First Phase of Steenkampskraal Rare Earth Evaluation Program
January 30 2012 - 9:24AM
Marketwired
Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX
VENTURE:GWG) (OTCQX:GWMGF) is pleased to announce that it has
completed the first phase of the exploration program at the
Company's Steenkampskraal rare earth property in South Africa.
These investigations have two primary goals; firstly, to provide
information in support of a fully compliant National Instrument
43-101 resource estimate report and secondly, to focus on a
possible expansion of the resource at Steenkampskraal through
testing the down-dip extension of the main structure. The program
included 39 diamond drillholes totaling 3,780 meters. This included
17 holes for resource delineation (1,932 meters) and 22 holes
dedicated to metallurgical sampling (1,848 meters).
Within the resource evaluation component of the drill program,
17 HQ drillholes were completed. Four holes did not intercept
obvious mineralization, likely due to the pinch and swell of the
vein system. 125 of 143 samples of monazite and mineralized host
rock have been shipped to SGS Lakefield in Canada ("SGS") for
assay. Additionally, 133 of 173 underground channel samples of
monazite and mineralized host rock collected from throughout the
three levels of the mine, undertaken as a verification of Anglo
American's work prior to the mine closure with the same survey
control points, have been sent to SGS for assay. 353 representative
samples collected from throughout the historical tailings dams and
78 representative samples from throughout the historical lower
grade rock dumps were also shipped to SGS for assay.
Within the metallurgical mini-bulk sampling component of the
program, 22 HQ drillholes were completed in 2011 providing 172
kilograms of monazite. An additional 534 kilograms of monazite were
recently collected from underground in-situ mineralization through
channel sampling in the historic mine workings. The combined 706
kilograms of representative material was shipped to Mintek of
Johannesburg, South Africa ("Mintek") for metallurgical
characterization as of today. As well, 350 kilograms of
representative vein ore and host rock that was collected from
underground sites will be shipped to Mintek today for XRF
recognition trials. Previously, 2,087 kilograms of tailings dam and
rock dump material had been sent to Mintek for metallurgical
characterization in November 2011.
Assay results will be reported as they are received from the
laboratories.
Brent Jellicoe, B.Sc., P.Geo, Director of International
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 the successful
construction, commissioning and operation of the separation
facility, 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) 659-4516info@gwmg.ca www.gwmg.ca Great
Western Minerals Group Ltd. 219 Robin Crescent Saskatoon, SK S7L
6M8
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