Post by Franko10 ™ on Sept 20, 2004 14:27:13 GMT -5
Great Western Gold Corp.
Suite 303, 416 21st Street East
Saskatoon, SK S7K 0C2
CDNX: GWG
CUSIP: 39144H107
February 19, 2001
Phase I Drilling Complete At Hoidas Lake
Gary Billingsley, President, is pleased to report that the first phase of drilling and ground geophysics has been completed at the Hoidas Lake rare earth project in northern Saskatchewan.
As a result, the JAK Zone (formerly referred to as the Main Zone) has now been drill tested over a 475 metre strike-length and traced by ground geophysics continuously over a 700 metre strike-length.
Sixteen drill holes have been completed, recovering 1,100 metres of NQ-size (1.875 inches in diameter) core. Every drill hole intersected significant widths of intensely sheared rock containing abundant allanite (a rare earth host mineral). This is consistent with the type of mineralization observed in the surface trenches where samples assayed as high as 20.3 percent total rare earth oxide and averaged 4.9 percent overall in the central sheared zone. Obviously well-mineralized drill intersections range in width from about 5 metres to over 40 metres. The widest mineralized intersections occur in holes at either end of the tested strike-length. DDH HL01-14 (to the north) and DDH HL01-16 (to the south), 475 metres apart, intersected good mineralization over true widths of 43.5 metres and 22.0 metres respectively. These are also the deepest intersections at approximately 65 metres vertical depth from surface in both drill holes. This leaves the JAK Zone open along strike and to depth.
The ground geophysics provides excellent correlation with the surface trenching and the drilling. The survey outlines a major shear system up to 75 metres wide with a central portion that corresponds to the well-mineralized, brecciated and intensely sheared rock seen at surface and in the core.
Logging, splitting and sampling of the core is ongoing with analysis underway at the Saskatchewan Research Council laboratory in Saskatoon.
Drilling is expected to resume in March to continue testing the JAK Zone on-strike and at depth, as well as to test targets on other showings delineated by ground geophysics.
The 16,000 acre Hoidas Lake property covers a 10 km long fault system along which15 rare earth showings have been identified. The JAK Zone, located at the northern end of the system, represents only one of these occurrences. The Company is earning a 70% interest in the Hoidas Lake project from Daren Industries Ltd. (CDNX:DIL) of Vancouver.
--------------------------------------------------------------------------------
Great Western Gold Corp. is a Saskatchewan-based corporation engaged in the acquisition, exploration and development of unique and strategic mineral properties including diamonds and rare earth elements. Shares of the Company trade on the Canadian Venture Exchange under the symbol GWG.
For further information, please call Gary Billingsley at 1 306 664 0028, or in the USA, Neil Yingling at 1 702 896 6724
GREAT WESTERN GOLD CORP.
Gary Billingsley
President
The Canadian Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
Suite 303, 416 21st Street East
Saskatoon, SK S7K 0C2
CDNX: GWG
CUSIP: 39144H107
February 19, 2001
Phase I Drilling Complete At Hoidas Lake
Gary Billingsley, President, is pleased to report that the first phase of drilling and ground geophysics has been completed at the Hoidas Lake rare earth project in northern Saskatchewan.
As a result, the JAK Zone (formerly referred to as the Main Zone) has now been drill tested over a 475 metre strike-length and traced by ground geophysics continuously over a 700 metre strike-length.
Sixteen drill holes have been completed, recovering 1,100 metres of NQ-size (1.875 inches in diameter) core. Every drill hole intersected significant widths of intensely sheared rock containing abundant allanite (a rare earth host mineral). This is consistent with the type of mineralization observed in the surface trenches where samples assayed as high as 20.3 percent total rare earth oxide and averaged 4.9 percent overall in the central sheared zone. Obviously well-mineralized drill intersections range in width from about 5 metres to over 40 metres. The widest mineralized intersections occur in holes at either end of the tested strike-length. DDH HL01-14 (to the north) and DDH HL01-16 (to the south), 475 metres apart, intersected good mineralization over true widths of 43.5 metres and 22.0 metres respectively. These are also the deepest intersections at approximately 65 metres vertical depth from surface in both drill holes. This leaves the JAK Zone open along strike and to depth.
The ground geophysics provides excellent correlation with the surface trenching and the drilling. The survey outlines a major shear system up to 75 metres wide with a central portion that corresponds to the well-mineralized, brecciated and intensely sheared rock seen at surface and in the core.
Logging, splitting and sampling of the core is ongoing with analysis underway at the Saskatchewan Research Council laboratory in Saskatoon.
Drilling is expected to resume in March to continue testing the JAK Zone on-strike and at depth, as well as to test targets on other showings delineated by ground geophysics.
The 16,000 acre Hoidas Lake property covers a 10 km long fault system along which15 rare earth showings have been identified. The JAK Zone, located at the northern end of the system, represents only one of these occurrences. The Company is earning a 70% interest in the Hoidas Lake project from Daren Industries Ltd. (CDNX:DIL) of Vancouver.
--------------------------------------------------------------------------------
Great Western Gold Corp. is a Saskatchewan-based corporation engaged in the acquisition, exploration and development of unique and strategic mineral properties including diamonds and rare earth elements. Shares of the Company trade on the Canadian Venture Exchange under the symbol GWG.
For further information, please call Gary Billingsley at 1 306 664 0028, or in the USA, Neil Yingling at 1 702 896 6724
GREAT WESTERN GOLD CORP.
Gary Billingsley
President
The Canadian Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.