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Great Western Minerals Group Ltd.

Publié le 23 février 2011

Great Western Minerals Group To Launch Steenkampskraal Exploration Program

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Mots clés associés :   Aluminium | Cobalt | Nickel |

     

GREAT WESTERN MINERALS GROUP TO LAUNCH STEENKAMPSKRAAL EXPLORATION PROGRAM

Great Western Minerals Group Ltd. ("GWMG" or the "Company", TSX:V � GWG) announces that it has committed to an exploration program at the Company's Steenkampskraal site in South Africa in conjunction with the ongoing feasibility work being carried out by SRK Consulting.

GWMG will invest a minimum of $1.5 Million (Cdn.) in an exploration program, on site and regionally, that is scheduled to commence immediately upon receipt of the National Nuclear Regulator (�NNR�) approval for the on-site work program at Steenkampskraal related to the Bankable Feasibility Study currently being prepared by SRK Consulting. The NNR approval is expected within the first quarter of 2011.

The Steenkampskraal Mine produced a monazite concentrate between 1952 and 1963. Monazite is a rare earth-bearing phosphate mineral that has been commercially processed globally for many years.

There has been very limited exploration work carried out on the property historically, and when mining was stopped, due to thorium market conditions, the deposit had only been mined to a depth of approximately 100 metres. The Company recently purchased an extensive database of information from Anglo American PLC, the previous mine operators, which is invaluable in helping identify on site target areas for additional resources. Geologically, the mineralization is thought to have a magmatic source and part of the exploration program will include diamond drilling to test the potential for additional resources at depth and along strike.

The Steenkampskraal mine is located approximately 70 kilometers north of the town of Vanrhynsdorp and approximately 350 kilometers northwest of Cape Town in the Western Cape Province of South Africa.

Jim Engdahl, President and Chief Executive Officer of Great Western Minerals Group said, "Historical data suggests there is an opportunity to significantly expand on the potential of the Steenkampskraal deposit, a strategy that is very important to GWMG. The commitment to launch an exploration program, at the same time we are completing our feasibility work, is indicative of the focus that GMWG is placing on Steenkampskraal as a vital component of our Company�s plans to be a vertically integrated Rare Earths producer."

Jim Engdahl
President and CEO

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 has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 70.2% ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.

For further information, please contact Dwight Percy, Manager of Investor Relations at (306) 659-4500. Email inquiries should be made to info@gwmg.ca and the company website is located at www.gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 219 Robin Crescent, Saskatoon, SK S7L 6M8. Description : http://www.gwmgnews.com/netdispatch/index.cfm?m=54253&u=52F29E7D-E0C6-AD30-ED8EB21B1E40DD11&LL=1&fuseaction=news.image&img=blank.gif

     

 

 

Great Western Minerals Group Ltd.

EXPLORATEUR
CODE : GWG.V
ISIN : CA39141Y1034
CUSIP : 39141Y103
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Great Western Min. est une société d’exploration minière de cuivre et d'or basée au Canada.

Great Western Min. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont STEENKAMPSKRAAL en Afrique Du Sud et BENJAMIN RIVER, DOUGLAS RIVER, CHALEUR, DEEP SANDS, COPPER HILL, CHUCKWALLA et HOIDAS LAKE au Canada.

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