Great Western Minerals Reports Rare Earth Resource Surge

A 114% increase in the Indicated resource and a 218% increase in the Inferred resource

Great Western Minerals Group Monday announced an updated National Instrument 43-101 resource estimate and technical report for its Steenkampskraal rare earth property in South Africa, this according to a company news release.

The new resource estimate shows 32,000 metric tonnes of total rare earth oxides plus yttrium oxide (TREO) under the Indicated category and 42,100 metric tonnes of TREO under the Inferred category, each using a 1% TREO cut-off grade. This represents a 114% increase in the Indicated resource and a 218% increase in the Inferred resource from the last estimate in May of 2012.

"The substantial increase in TREO tonnage from this Resource Estimate update significantly improves the economic potential of the Steenkampskraal Monazite Project. The resource update reported today will be incorporated into the Preliminary Economic Assessment that is being prepared concurrently. We expect the Steenkampskraal analysis will be bolstered further with the upcoming addition of a minimum of 55 drill holes for which assay work is currently in progress," said Great Western Minerals President and CEO Marc LeVier.

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