Great Western Minerals (CVE:GWG)(OTCQX:GWMGF) announced Thursday the launch of a preliminary economic assessment for its Steenkampskraal rare earth element project in South Africa, contracting Snowden Mining Industry Consultants to complete the study.
Snowden was chosen for the project as it is familiar with the South
African mining and legislative environment, Great Western said.
The company also completed the National Instrument 43-101 technical
report and resource calculation for the past-producing Steenkampskraal
"The engagement of Snowden to complete the PEA will enable our
company to further develop and communicate financial projections for our
complete corporate structure based on independent analysis of the
mining of rare earth-bearing monazite, extraction to mixed chloride,
separation of oxides, and metal and alloy production, as encompassed by
our fully integrated, value-added business model," said Great Western`s
president and CEO, Jim Engdahl.
In early July, the company reported on the latest phase of its drill
program at Steenkampskraal, that doubled the area of interest at the
The most recent drill intercepts were from four areas surrounding the
main mine workings, all outside the previously reported NI 43-101
In May, the company said its NI 43-101 report indicated the presence
of 13,823.64 metric tonnes of total rare earth oxides (TREO), including
yttrium, under the indicated resource category, and 14,147.76 metric
tonnes under the inferred resource category, each using a one per cent
Among the highlights of the Western Extension drill program,
REE-bearing monazite vein mineralization was encountered in seven of
eight drill holes and mineralization was up to 3.73 metres true
The historic mine "vein" at Steenkampskraal is comprised
predominantly of a rare earth-bearing monazite. The vein is variably
south-dipping, and was developed over a strike length of approximately
Past production, and extensive assaying from the first phase of
drilling and underground sampling, indicates that the monazite vein
material at Steenkampskraal contains from 0.4 to 46% TREO with a modeled
average of 18%, the company noted.
Great Western Minerals is an integrated rare earths processor. Its
specialty alloys are used in the battery, magnet and aerospace