Great Western Minerals Group Ltd (TSX-V: GWG) and Toyota Tsusho Corp have signed a non-binding letter of intent to examine the merits of jointly conducting exploration and development activities on certain of Great Western Minerals' existing heavy rare earth elements (HREE) projects.
Great Western said in a statement the groups will discuss possibilities for the Douglas River and Benjamin River exploration projects. TTC will be the exclusive partner for talks on the projects for a six month period.
The HREE are high value products that are critical to the manufacture of high-temperature magnets used in electric motors for a wide range of applications including hybrid vehicles and for phosphors used in LCD and plasma flat panel displays.
As reported by Great Western in January 2009, assays from previous sampling of the vein material on the Benjamin River property varied from 0.6 percent total rare earth oxide (TREO) to 1.0 percent TREO with over 30 percent HREE by proportion, including yttrium.
Historic trench sampling of the Douglas River property in northern Saskatchewan yielded REE grades of up to 10 percent yttrium with accompanying high grades of HREE including dysprosium with grades up to 0.89 percent representing over 99 percent HREE and yttrium by proportion.
Toyota Tsusho, headquartered in Nagoya, Japan, is the sole trading company of the Toyota Group. The company's business includes domestic wholesale, exports, imports, overseas trading, contract construction, and insurance agency businesses.
No comments:
Post a Comment