TSX Venture Symbol: GWG
OTCQX: GWMGF
CUSIP: 39141Y 10 3
SASKATOON, Sept. 25,
2012 /PRNewswire/ - Great Western Minerals Group Ltd.
("GWMG" or the "Company"), (TSXV: GWG) is pleased to announce it
will undertake a Preliminary Economic Assessment ("PEA") for its
Hoidas Lake rare earth project based on promising large-scale lab
results.
Combined beneficiation/metallurgical test work
has successfully produced a rare earth rough concentrate as well as
a phosphate concentrate. That was followed by further
hydrometallurgical test work that produced a mixed rare earth
carbonate and fertilizer that can either be saleable products or
used for further rare earth separation.
The large-scale lab results received from the
Chinese institute with which GWMG has been working during the past
two years included the following:
(Summary report at
http://www.gwmg.ca/_gwmg-nr-25-sep-12.html):
- The test results for the magnetic separation-flotation process
indicate that the total rare earth recovery in the rare earth and
apatite concentrates is 89.45%.
- The hydrometallurgical treatment of the rare earth rough
concentrate included sulfuric acid roasting, water leaching,
double-salt precipitation, caustic soda transformation,
hydrochloric acid selective dissolution, radium removal and
precipitation by ammonium carbonate. It resulted in a rare earth
recovery of 78.62% in the produced mixed rare earth carbonate.
- Extraction of rare earths and phosphorus from apatite
concentrate using the developed process included nitric acid
treatment, neutralization and precipitation, sulfuric acid roasting
of the residue, water leaching and preparing rare earth product,
plus gypsum precipitation and liquid ammonia neutralization of the
filtrate. It resulted in a rare earth recovery of 78.64% in the
produced mixed rare earth carbonate.
- The combined beneficiation-metallurgical process resulted in an
overall rare earth recovery of 70.33%, comprised of 38.68% from
rare earth rough concentrate and 31.65% from apatite concentrate.
The phosphate recovery from the apatite concentrate was 92.5% in
the produced Nitrogen-Phosphorous complex fertilizer. The
specifications of both the mixed rare earth carbonate and the
fertilizer, according to GWMG's preliminary assessments, meet
market requirements.
GWMG President and Chief Executive Officer
Jim Engdahl said, "The promising
test results for our Neodymium-enriched Hoidas Lake project have
confirmed the validity of our original assumptions on the processes
that are most likely to be successful. The positive results from
the large-scale lab work have led GWMG to move ahead with a PEA for
Hoidas that will also address the issues of its remote location now
that we have removed the metallurgical bottlenecks from the
project."
Gary Billingsley,
C.A., P.Eng., P.Geo., Executive Chairman of GMWG, is the Qualified
Person responsible for supervising the preparation of the contents
of this news release.
Great Western Minerals Group Ltd. is an
integrated rare earth 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 aluminum, 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.
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.
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 and timely completion of its preliminary
economic assessment at Hoidas Lake, reliance on third parties to
meet projected timelines, commencement of production at
Steenkampskraal, risks related to the receipt of all required,
delays in obtaining permits, licenses and operating authorities in
Canada, South Africa and China, environmental matters, water and land
use risks, 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, uncertainty of
estimates and projections of production, costs and expenses, risks
that future exploration results may not meet exploration or
corporate objectives, the adequacy of the Company's financial
resources and the availability of additional cash from operations
or from financing on reasonable terms or at all, political risks
inherent in South Africa and
China, risks associated with the
relationship between GWMG and/or its subsidiaries and communities
and governments in South Africa
and Canada, radioactivity and
related issues, dependence on a limited number of mineral projects,
loss of key personnel, the factors discussed in the Company's
public disclosure record, and other factors that could cause
actions, events or results not to be as anticipated. 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. Except as required by law, GWMG does
not assume any obligation to update forward looking statements as
set out in this news release. 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
annual information form available at www.sedar.com.
SOURCE Great Western Minerals Group Ltd.