Business
Final Results for the year ended 31 December 2007
Final Results for the year ended 31 December 2007.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n\n 8 April 2008\n IE00B1FR8863/GBP/PLUS-exn\n\n GREAT WESTERN MINING CORPORATION PLC\n\n AUDITED FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2007\n\nCHAIRMAN'S STATEMENT\n\nThe period under review has been marked by the Company's transformation from a purely exploration\nprofile to one increasingly of confirmation, validation and development. Highlights of operations to\ndate include;\n * Three sets of gold and silver test results.\n * Three sets of uranium U308 test results.\n * A bulk sample laboratory leeching test for recovery of U308.\n * More than doubling the area under claim.\n\nField Programmes\nThe 2006 and 2007 field sampling programmes have confirmed our historical geological research;\nradioactive mineralisation is present on our claims, in addition to precious metals gold and silver.\nHow much there is remains to be determined. This will be the object of much of our endeavours over the\ncoming summer. As for the quality or richness of the deposit, that is perhaps best illustrated by\ncomparison. In last year's Annual Report, it was stated the first test results yielded values of 0.17%\nU308. By the end of the third set of results, readings were as high as 0.59% U308.\n\nThird Uranium Test Results\nIn the fifteen samples taken to test primarily for U308 content the results, in percentage, were as\nfollows:\n% U308 % U308\n1. 0.170 9. 0.292\n2. 0.028 10. 0.061\n3. 0.146 11. 0.043\n4. 0.076 12. 0.212\n5. 0.490 13. 0.596\n6. 0.248 14. 0.138\n7. 0.204 15. 0.564\n8. 0.068\n\nThese outstanding results are the most recent of several previously announced surveys over the past\nyear. The grades keep improving as we zero in on what we believe is the controlling geological feature\nof the deposition namely, the Ming Toy fault.\n\nBulk Uranium Sample Test\nIn late 2007 your Directors were determined to secure a bulk sample of uranium ore from the prospect\nto undertake a scaled-up test of its value and to examine if a low capital cost leaching plant would\nbe an efficacious means of U308 recovery. Subsequently, a bulk sample was extracted and delivered to\nan appropriate laboratory in Colorado. We had hoped to have the results in time for publication in the\nannual report, but due to the strength of the ore, certain precautions had to be taken in the\ntransportation and delivery of the bulk sample. I am confident the fina...