Welcome to the Great Western Minerals Group HUB On AGORACOM

Great Western Minerals Group Ltd. is a Saskatchewan-based junior exploration company. GWMG is engaged in the acquisition, exploration, and development of rare earth mineral properties in North America.

Free
Message: Great Western to drill 2,000 metres at Benjamin River

Great Western to drill 2,000 metres at Benjamin River

posted on Oct 29, 2009 09:57AM

Great Western Minerals Group Ltd (C:GWG)
Shares Issued 200,597,618
Last Close 10/28/2009 $0.265
Thursday October 29 2009 - News Release

Mr. Jim Engdahl reports

GREAT WESTERN MINERALS GROUP CONTINUES WORK AT BENJAMIN RIVER

Great Western Minerals Group Ltd.'s next phase of exploration work is now in progress at its Benjamin River rare earth project in New Brunswick, Canada.

Fugro Airborne Surveys Corp. completed a 1712 line-km helicopter-borne magnetic and radiometric survey over the project area. The goal of the survey is to further delineate and extend the zone of known rare earth mineralization and identify new areas of potential rare earth mineralization. The data is now being compiled and interpreted. A stream-sediment sampling program over the property has also been initiated.

As announced in a news release of June 1, 2009, the Company completed ground geophysics over the known exposures of a rare earth-bearing apatite-diopside-magnetite vein system. This survey outlined a geophysical anomaly approximately 1,200m long with widths up to 200m. Previous trenches within the anomaly have been cleaned out with a backhoe and geological mapping and sampling of the trenches is underway.

Based on the ground work completed to date, initial drill hole locations have been selected, and Major Drilling has been awarded the contract to complete a minimum of 2000m of core drilling before year end. The scope of the drill program may be significantly expanded once the results of the airborne geophysics and stream-sediment geochemistry have been analyzed.

The budget for the current program is estimated at approximately $750,000. Funding of these programs is also being provided by the New Brunswick Junior Mining Assistance Program.

Previous sampling of the Benjamin River mineralization yielded significant rare earth values (0.6% total rare earth oxide to 1.0% total rare earth oxide) with "heavy" rare earth oxides (yttrium plus europium through lutetium) representing 30% of the total rare earth content. Significant values of phosphate and iron were also noted.

GWMG can earn a 100% interest in the Benjamin River property by making a series of cash payments, issuing common shares, and granting a net smelter return royalty to the vendor as reported in the Company's news release of January 8, 2009.

Jim Engdahl, President and CEO notes, "With our balance sheet in order and the Company debt-free, we can now focus our attention on aggressively moving our rare earth projects forward as we strive to complete our mine-to-market business model. We expect a steady stream of news in the coming months as we advance several of our mineral projects and work on expanding the value-added capability at our UK and US manufacturing plants."

John Pearson, MSc, PGeo, Vice-President Exploration for GWMG, is the qualified person responsible for reviewing the contents of this news release.

� 2009 Canjex Publishing Ltd.

Share
New Message
Please login to post a reply