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09/06/2011

Great Western Minerals' Jim Engdahl updates Proactive on the company's "mines to metals" strategy

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Additional Information
Market: TSX-V
Sector: General Mining - Rare Earth Minerals
EPIC: GWG
Latest Price: C$0.39  (0,00%)
52-week High: C$0.98
52-week Low: C$0.30
Market Cap: C$162.44M
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Great Western Minerals Group
www.gwmg.ca

Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company’s strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.

Full Great Western Minerals Group profile here
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Great Western Minerals reports encouraging results from Red Wine Property

9th Mar 2011, 2:27 pm

Rare earths processor Great Western Minerals Group (GWMG) (CVE:GWG) announced on Monday results from the first phase drill program at the Red Wine property located in Labrador, Canada.

The exploration program was funded by Great Western as part of its option agreement with Search Minerals (CVE: SMY), under which Great Western can earn a 50% stake in the property.

Highlights from the drill program included total rare earth elements / total rare earth oxide values of 1.59%/1.92% over 4 metres; 1.12%/1.36% over 5.6 metres; and 1.39%/1.68% over 4.3 metres.

All samples also showed between 35% and 40% enrichment in the more valuable heavy rare earth elements.  There was also consistent dysprosium enrichment in all samples.

According to CEO Jim Engdahl, projects containing dysprosium are valuable to  Great Western since it is an essential ingredient for the magnet alloys the company manufactures.

"Dysprosium shortages are expected, according to our projections at GWMG, unless additional sources are discovered. Hence the Red Wine project results are very encouraging to GWMG," Engdahl said.

The company plans to do follow-up drilling in 2011 to outline the extent of the dysprosium-rich mineralization.

Great Western's shares were up almost 5% to trade at 86 cents as of 3:34 pm EST.

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