Great Western Exploration Ltd (ASX Code: GTE) is an ASX listed company incorporated 2007 based in Western Australia focusing on the discovery of gold in Northern Yilgarn region of Western Australia.
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Great Western Exploration has signed a landmark JV agreement with Kazakhstan’s state owned mining company allowing it access to a highly prospective land package. Previous exploration by the Soviets defined significant resource potential. A drilling program is now underway, aimed at testing the historical data.
Great Western Exploration (ASX: GTE) recently executed a 50:50 JV agreement with Kazakhstan’s state owned mining company Tau-Ken Samruk (TKS). This Joint Venture paves the way for a period of active exploration in a highly prospective, previously explored region.
The Joint Venture encompasses the 12,500km2 Spasskaya project which hosts 120 historical copper prospects. In the 1970’s, the Soviets conducted extensive, albeit incomplete, exploration on eight ‘high priority’ sites. Wide zones of ore grade and predominantly oxide mineralisation were intersected at all eight locations with widespread outcropping mineralisation evident at four locations. Based on historical exploration results, just these eight projects have an exploration target of between 69-173Mt grading ~1.10% Cu for ~750kt and 2Mt of contained copper.
Under the terms of the JV agreement, Great Western will earn its 50% interest by sole funding the exploration phase and 50% of the BFS. Great Western has commenced a 2,500m maiden drill program aimed at testing the reliability of the historical Soviet exploration data. Should the historical work be deemed reliable, resource definition drilling campaigns will then commence.
Great Western also has a quality portfolio of early stage, Australian based, exploration projects including the newly formed JV with Xstrata Glencore. This JV incorporates the Cunyu project with Great Western’s existing Doolgunna project, creating a prospective tenement package of ~3,300km2.
Following Breakaway’s last update, Great Western and the national mining company of Kazakhstan Tauken Samruk (TKS) have now executed the Spasskaya JV agreement. This agreement paves the way for Great Western to initially earn 50% of the Spasskaya project...
Official website: http://www.greatwesternexploration.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/GTE