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Great Western Minerals Significantly Upgrades Mineral Resource Estimate for Steenkampskraal Rare Earth Project
Great Western Minerals Significantly Upgrades Mineral Resource Estimate for Steenkampskraal Rare Earth Project.
About this update from Great Western Minerals Group Ltd
[{"type":"text","content":"\n \n \n Great Western Minerals Significantly Upgrades Mineral Resource Estimate for Steenkampskraal Rare Earth Project\n \n \nGreat Western Minerals Significantly Upgrades Mineral Resource Estimate for Steenkampskraal Rare Earth Project\n \n SASKATOON, CANADA--(Marketwired - Nov 12, 2013) -  Great Western Minerals Group Ltd. (\"GWMG\" or the \"Company\") (TSX VENTURE: GWG) (OTCQX: GWMGF), a leader in the manufacture and supply of rare earth element-based metals and metal alloys and holder of a low cost, high-grade critical rare earth asset, today announced that its new NI 43-101 compliant technical report and mineral resource estimate (\"MRE\") for the Steenkampskraal rare earth project (\"SKK\") shows a significant increase of tonnes in the Indicated category and the addition of newly defined tonnes in the Measured category. Overall, the size of the resource has increased compared with the Company's previously released mineral resource estimate dated December 2012.\n Highlights of the MRE are as follows (resource estimates based on 1% cut-off grade): \n \n \n 16,600 tonnes total rare earth oxides including yttrium oxide (\"TREO\") from the in situ resource now report to the Measured category\n \n67,000 tonnes TREO in the in situ Indicated category, an increase of 38,200 tonnes\n \nAll tailings now report to the Indicated category for a total of 46,000 tonnes surface material hosting 3,300 tonnes TREO at a lower grade of 7.18% compared with the December 2012 MRE, due to the combination of the two historic tailings dams and addition of low radioactivity materials recovered during site clean-up \n \nOverall increase of 171%, or 54,800 tonnes TREO, in the in situ and tailings Measured and Indicated categories to 86,900 tonnes \n \n \n Company President and CEO Marc LeVier stated, \"A significant increase in assay data from core drilling and underground sampling at SKK during the last year has provided input for a new resource estimate. The results of the MRE show an increase of total rare earth oxides including yttrium oxide bringing the total in situ and tailings Indicated and Measured resource to 86,900 tonnes TREO. We also saw a substantial upgrade of the previous Inferred resource component to the Indicated category or better, and increased the overall tonnes of TREO that are candidates for conver...