Great Western Minerals Group Reports Additional High Grade Assay Results and Drilling Update from Steenkampskraal Rare Earth Project
SASKATOON, Sept. 18, 2012 /PRNewswire/ - Great Western Minerals Group Ltd. ("GWMG" or the "Company", TSX:V - GWG) is pleased to announce updated drill results for the Company's Steenkampskraal rare earth Project in South Africa.
•Assays varying from 0.02 to 45.81 weight percent ("wt.%") Total Rare Earth Oxides ("TREO") with an average of 17.74 wt.% TREO from underground channel, resource drill hole and exploration drill hole assays.
•Within the drill program being reported, covering 83 drill holes, true thickness varied from 0.02 metres to 6.67 metres and averaged 0.92 metres.
GWMG President and Chief Executive Officer Jim Engdahl said, "Steenkampskraal continues to yield outstanding results with new mineralization, assay results that continue to be exceptional and massive continuity of the vein system. The consistency of high grade assays that we have now reported in three separate news releases further strengthens our already high level of confidence in the potential for a very robust project at Steenkampskraal."
The area targeted by Underground Channel Sampling is the historic mine area as is referred to as the "Main Mineralization Zone". Assays reported for core and channel samples in this disclosure are weighted-average composites by interval length across each mineralized intercept (consisting predominantly of the mineral monazite) whether in drill core or in an underground channel.
Highlights of Underground Channel Sampling (Table 1):
•Assay results vary from 3.61 to 45.12 wt.% TREO.
•Weighted average for all channel samples is 21.01 wt.% TREO.
Highlights of the Resource Drill Hole program (Table 2):
•Assay results vary from 0.02 to 41.67% wt.% TREO.
•Weighted average of 11.91 wt.% TREO.
Highlights of the Exploration Drill Hole program (Table 3):
•Assay results vary from 0.02 to 45.81% wt.% TREO.
•Weighted average of 13.93 wt.% TREO.
Drill Program Summary:
The historic main mineralization zone stretches approximately 400 metres along strike and to a depth of approximately 120 metres.
In total, the REE-bearing Monazite vein has now been well delineated over a strike length of 900 meters and down-dip to an average depth of 125 meters. Importantly, mineralization remains open to the east and at depth along most of the trend
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.