Post by Franko10 ™ on Sept 20, 2004 14:18:11 GMT -5
Great Western Gold Corp.
Suite 303, 416 21st Street East
Saskatoon, SK S7K 0C2
CDNX: GWG
CUSIP: 39144H107
October 5, 2000
Work Begins On Rare Earth Project
Gary Billingsley, President, is pleased to report that the first phase of the fall/winter exploration program on the Company's Hoidas Lake rare earth project in northern Saskatchewan is underway. A geological crew is mobilizing to the property to investigate and sample the rare earth showings outside the Main Zone. The Hoidas Lake property hosts 15 rare earth showings located over a 6-mile strike-length along what is interpreted to be a major fault structure. Only the Main Zone has seen any exploration work in recent years, with the remainder of the showings not investigated since the 1950s.
In the fall of 1999, the Company completed 11 trenches over a 400 metre strike-length identifying 3 zones of mineralization, including the Main Zone. Assay results from the trench samples confirmed significant rare earth mineralization. The Main Zone samples averaged 2.4 percent total rare earth oxides over a width of 7.1 metres including a sheared unit averaging 4.9 percent total rare earth oxides over 3.2 metres. Individual trench samples assayed as high as 20.3 percent total rare earth oxides. For illustration purposes and comparison to other types of mineral deposits, the average gross value of the Main Zone sheared unit, for separated oxide products, using current US wholesale pricing, is between US$750 and US$1,500 per tonne, depending on the purity of the final product.
Drilling will commence on the property immediately after freeze-up. Close-spaced drilling will be carried out along the Main Zone to confirm continuity of the zone along strike and at depth. The likely start-up date for drilling is around mid-November.
The rare earth elements are also known as lanthanides and encompass 17 different elements with unique physical and chemical properties. Growth in the use of rare earths as "high-tech" metals has been explosive in recent years. In particular, the reduction in the size and weight and the improvement in performance of computer components, cell phones and other portable electronic devices is largely due to rare earth applications. Permanent magnet and rechargeable battery technology, using rare earths, play a major role in the commercial feasibility of electric and hybrid-electric vehicles, including those employing fuel cells.
The Company can earn a 70% interest in the Hoidas Lake property from Daren Industries Ltd. (CDNX:DIL) by making option payments and carrying out exploration work.
Great Western Gold Corp. is proud to be exploring for diamonds and rare earth elements in Saskatchewan, a province that already hosts the world's largest potash, uranium and kimberlite deposits.
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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.
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
October 5, 2000
Work Begins On Rare Earth Project
Gary Billingsley, President, is pleased to report that the first phase of the fall/winter exploration program on the Company's Hoidas Lake rare earth project in northern Saskatchewan is underway. A geological crew is mobilizing to the property to investigate and sample the rare earth showings outside the Main Zone. The Hoidas Lake property hosts 15 rare earth showings located over a 6-mile strike-length along what is interpreted to be a major fault structure. Only the Main Zone has seen any exploration work in recent years, with the remainder of the showings not investigated since the 1950s.
In the fall of 1999, the Company completed 11 trenches over a 400 metre strike-length identifying 3 zones of mineralization, including the Main Zone. Assay results from the trench samples confirmed significant rare earth mineralization. The Main Zone samples averaged 2.4 percent total rare earth oxides over a width of 7.1 metres including a sheared unit averaging 4.9 percent total rare earth oxides over 3.2 metres. Individual trench samples assayed as high as 20.3 percent total rare earth oxides. For illustration purposes and comparison to other types of mineral deposits, the average gross value of the Main Zone sheared unit, for separated oxide products, using current US wholesale pricing, is between US$750 and US$1,500 per tonne, depending on the purity of the final product.
Drilling will commence on the property immediately after freeze-up. Close-spaced drilling will be carried out along the Main Zone to confirm continuity of the zone along strike and at depth. The likely start-up date for drilling is around mid-November.
The rare earth elements are also known as lanthanides and encompass 17 different elements with unique physical and chemical properties. Growth in the use of rare earths as "high-tech" metals has been explosive in recent years. In particular, the reduction in the size and weight and the improvement in performance of computer components, cell phones and other portable electronic devices is largely due to rare earth applications. Permanent magnet and rechargeable battery technology, using rare earths, play a major role in the commercial feasibility of electric and hybrid-electric vehicles, including those employing fuel cells.
The Company can earn a 70% interest in the Hoidas Lake property from Daren Industries Ltd. (CDNX:DIL) by making option payments and carrying out exploration work.
Great Western Gold Corp. is proud to be exploring for diamonds and rare earth elements in Saskatchewan, a province that already hosts the world's largest potash, uranium and kimberlite deposits.
--------------------------------------------------------------------------------
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.
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.