GWMG significantly expands resource at South Africa project
TORONTO (miningweekly.com) – Aspirant integrated rare earths producer Great Western Minerals Group (GWMG) has lifted its South Africa-based Steenkampskraal project resources by a significant margin, seeing a 114% increase in the indicated resource and a 218% increase in the inferred resource as compared with the technical report released in May of 2012.
The company on Monday said the National Instrument 43-101-compliant report, which was prepared by Snowden Mining Industry Consultants for the Steenkampskraal rare-earth property, in the Western Cape province, had calculated a mineral resource estimate of 32 000 t of total rare-earth oxides (TREO), including yttrium oxide, under the indicated category, and 42 100 t of TREO under the inferred category, each using a 1% TREO cutoff grade.
The company said the drilling programme continues at Steenkampskraal, aimed at expanding the resource estimate, increasing the confidence in the geological model, upgrading the categories of reported resources, providing technical data for mine planning and to check for mineralisation in those areas of the property where the concentrator and other infrastructure facilities would be located.
The core logging and assay results of 55 completed drill holes remain to be evaluated and reported.
GWMG earlier this month appointed Marc LeVier as its president and CEO, following a lengthy global search.
The company’s TSX-V-listed stock reacted positively to the news and rose by 24.14% to 36 Canadian cents apiece on Monday.
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