Post by Franko10 ™ on Sept 20, 2004 15:10:04 GMT -5
Great Western Gold Corp. 679 Kentons Run Avenue Henderson, Nevada USA 89052-2823 CDNX: GWG
CUSIP: 39144H107
March 6, 2002
WORK PLANNED FOR CANDLE LAKE DIAMOND PROJECT
Neil P. Yingling, President, is pleased to announce that engineering planning activity has been initiated, coupled to on-going discussions with invited investors seeking to assist in funding, to commence a definitive work program on its Candle Lake diamond property. Prior NQ-size (1.875 inches diameter) drilling resulted in recovery of 70 macro-diamonds (one dimension greater than 0.5mm) and 343 micro-diamonds from 3.67 tonnes of split-core samples. Best overall projected grade was 27 carats per hundred tonnes. Test ground geophysics, using resistivity methods, has identified several targets at Pipes 28 and 29/30 that could represent significant kimberlite tonnage in addition to that already confirmed through magnetic surveys and drilling. Further resistivity work and definition drilling using HQ-size (2.5 inches diameter) core is planned. This work must be completed prior to performing any large-diameter bulk sample testing.
At the current stage of exploration, Candle Lake results, in terms of macro-diamond frequency and projected grade, are more than comparable with reported results from any other kimberlite bodies in the province at the same stage. Recently the Saskatchewan Geological Survey presented a compilation of geochemical data for 28 kimberlite bodies in Saskatchewan showing the Candle Lake kimberlites at the top for G10 garnet frequency and second in terms of frequency of chromites plotting in the diamond inclusion field.
Located 45 mi NNE of Prince Albert, Saskatchewan, at the top end of the Fort a la Corne trend, the property consists of 47 claims covering 56,000 acres upon which are located three (3) massive diamond-bearing kimberlite pipes with an estimated kimberlite tonnage, based on drilling magnetic anomalies, of 78 million tonnes (calculated by Kennecott Canada Exploration Inc.). The Company, as project operator, retains an 80% interest in joint venture with War Eagle Mining Company Inc. (20%). To maintain its 80% interest in the property, the company must perform a minimum of $150,000 of work on the property prior to September 1, 2002. The Company has extended an invitation to selected investors to participate in a private placement this spring to fund the proposed work program. The Company considers it likely that overall grade and size of recovered diamonds will increase with larger sample sizes, as has been seen elsewhere in Saskatchewan.
Preliminary independent engineering shows that sufficient infrastructure and support is available to the site to support projected operating costs of $12 per tonne if economic feasibility is shown. Eighty (80%) percent of the diamonds recovered to date are gem-quality being clear, white with few inclusions. Values over $150 per carat have been documented in Saskatchewan.
For informational purposes, the Company reports that discussions for funding the Hoidas Lake Rare Earth Project in northern Saskatchewan are continuing.
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Great Western Gold Corp. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds and rare earth elements in the Province of Saskatchewan.
For further information, call Neil Yingling at 1 702 896 6724, Len Willetts at 1 905 544 8502 or Gary Billingsley at 1 306 220 5377.
GREAT WESTERN GOLD CORP.
Neil Yingling
President
The Canadian Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the forgoing.
© 2004 Great Western Minerals Group Ltd.
CUSIP: 39144H107
March 6, 2002
WORK PLANNED FOR CANDLE LAKE DIAMOND PROJECT
Neil P. Yingling, President, is pleased to announce that engineering planning activity has been initiated, coupled to on-going discussions with invited investors seeking to assist in funding, to commence a definitive work program on its Candle Lake diamond property. Prior NQ-size (1.875 inches diameter) drilling resulted in recovery of 70 macro-diamonds (one dimension greater than 0.5mm) and 343 micro-diamonds from 3.67 tonnes of split-core samples. Best overall projected grade was 27 carats per hundred tonnes. Test ground geophysics, using resistivity methods, has identified several targets at Pipes 28 and 29/30 that could represent significant kimberlite tonnage in addition to that already confirmed through magnetic surveys and drilling. Further resistivity work and definition drilling using HQ-size (2.5 inches diameter) core is planned. This work must be completed prior to performing any large-diameter bulk sample testing.
At the current stage of exploration, Candle Lake results, in terms of macro-diamond frequency and projected grade, are more than comparable with reported results from any other kimberlite bodies in the province at the same stage. Recently the Saskatchewan Geological Survey presented a compilation of geochemical data for 28 kimberlite bodies in Saskatchewan showing the Candle Lake kimberlites at the top for G10 garnet frequency and second in terms of frequency of chromites plotting in the diamond inclusion field.
Located 45 mi NNE of Prince Albert, Saskatchewan, at the top end of the Fort a la Corne trend, the property consists of 47 claims covering 56,000 acres upon which are located three (3) massive diamond-bearing kimberlite pipes with an estimated kimberlite tonnage, based on drilling magnetic anomalies, of 78 million tonnes (calculated by Kennecott Canada Exploration Inc.). The Company, as project operator, retains an 80% interest in joint venture with War Eagle Mining Company Inc. (20%). To maintain its 80% interest in the property, the company must perform a minimum of $150,000 of work on the property prior to September 1, 2002. The Company has extended an invitation to selected investors to participate in a private placement this spring to fund the proposed work program. The Company considers it likely that overall grade and size of recovered diamonds will increase with larger sample sizes, as has been seen elsewhere in Saskatchewan.
Preliminary independent engineering shows that sufficient infrastructure and support is available to the site to support projected operating costs of $12 per tonne if economic feasibility is shown. Eighty (80%) percent of the diamonds recovered to date are gem-quality being clear, white with few inclusions. Values over $150 per carat have been documented in Saskatchewan.
For informational purposes, the Company reports that discussions for funding the Hoidas Lake Rare Earth Project in northern Saskatchewan are continuing.
--------------------------------------------------------------------------------
Great Western Gold Corp. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds and rare earth elements in the Province of Saskatchewan.
For further information, call Neil Yingling at 1 702 896 6724, Len Willetts at 1 905 544 8502 or Gary Billingsley at 1 306 220 5377.
GREAT WESTERN GOLD CORP.
Neil Yingling
President
The Canadian Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the forgoing.
© 2004 Great Western Minerals Group Ltd.