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8th October 2012
HIGH-GRADE COPPER HITS AT SHARYKTINSKY and SPASSKY PROSPECTS
More high-grade copper encountered at Spasskaya with
copper grades up to 13.5% from geochemical analysis of
trench composite samples at Sharyktinsky and 9.3% at
Spassky.
Sharyktinsky trench results:
Trench Width Average
Copper
Grade
Maximum
Copper
Grade
1 24m 8.30% 13.56%
2 16m 6.24% 8.55%
3 8m 4.96% 5.73%
4 8m 1.75% 2.41%
5 20m 1.72% 2.99%
6 16m 2.08% 2.89%
Spassky trench results:
Trench Width Copper
Average Grade
Copper Max
Grade
1 16m 3.34% 5.19%
2 14m 3.28% 9.28%
Two new, high-grade prospects to add to growing list of
confirmed drill targets at Spasskaya along with
Hadzhikongan, Shaitandinsky, Altyntobe and Burnak.
Figure 1 - Spasskaya Copper Project, Central Kazakhstan
Great Western Exploration Limited
ABN 53 123 631 470
Great Western Exploration Limited
is a publicly listed exploration company
with the primary objective of creating wealth
for shareholders through the discovery of
world-class mineral deposits.
ASX Code: GTE
Capital Structure
Shares on Issue: 98.3 M
Options on Issue: 30.85 M
Share Price: $ 0.20Market Cap: $19.6M
Contact Details:
185 Hay Street, Subiaco 6008
PO Box 8142, Subiaco 6008
T: (08) 6489 0101
F: (08) 6489 0100
info@greatwesternexploration.com.au
www.greatwesternexploration.com.au
Board of Directors
Jordan Luckett – MD/Chairman
Frank Cannavo – Non-Executive Director
Craig Mathieson – Non-Executive Director
Kel Edwards – Company Secretary
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Sharyktinsky Prospect (Appendix A)
The Sharyktinsky prospect is located 50km southwest of Karaganda adjacent to the national power grid. Major
drainage channels west and south of the prospect appear to have restricted historic exploration to an area of
500m x 200m. Six out of nine historic trenches were resampled on a two-metre composite basis and 45
samples were collected for copper analysis by GeoAnalytica in Almaty.
Trenches located in the southwest corner of the Sharyktinsky prospect near drainage cover have returned better
grades (24m @ 8.3% Cu) than those to the northeast (20m @ 1.7% Cu), perhaps indicating that better
mineralisation lies hidden below the adjacent stream system. Ground geophysical work at Sharykty and other
prospects will focus on tracking surface mineralisation below cover sequences.
Spassky Prospect (Appendix B)
The Spassky prospect is located 30km south of Karaganda, adjacent to the national highway between Astana
and Almaty. The area has been subject to copper mining in the past and features abundant malachite
mineralisation exposed at surface in trenching over an area of 2,000m x 500m. Two trenches were resampled
representing a very small proportion of the total prospect area (50m x 20m) yielding 15 composite samples.
Trench sampling and mapping at Spassky is continuing through October along with a more regional study of the
soil geochemistry using the Company’s portable XRF scanner.
Figure 2 - Photos taken at Spassky & Sharyktinsky Prospects showing outcropping oxide copper mineralisation
Trench Sampling at Sharyktinsky
Spassky Trenching
Old Spassky Copper Mine
3.0% Copper in Trench at Spassky
Copper Mine
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PROSPECT SUMMARIES
The following are the prospects identified at Spasskaya to date that contain high grade copper at surface.
Shaitandy 2
Trench results to Date:
14m @ 6.59% Cu
14m @ 6.51% Cu
12m @ 4.52% Cu
18m @ 4.05% Cu
2m composites trench sampling
Shaitandy features abundant malachite mineralisation at surface exposed in historic trenching. At least four individual zones of copper mineralisation have been indentified at surface extending along 5km of combined strike distance (over 50 separate trenches)
Sharyktinsky
Trench results to Date:
24m @ 8.30% Cu
16m @ 6.24% Cu
8m @ 4.96% Cu
8m @ 1.75% Cu
20m @ 1.72% Cu
16m @ 2.08% Cu
2m composites trench sampling
The Sharyktinsky prospect is located 50km southwest of Karaganda adjacent to the national power grid. Major drainage channels west and south of the prospect appear to have restricted historic exploration to an
area of 500m x 200m.
Spassky
Trench results to Date:
16m @ 3.34% Cu
14m @ 3.28% Cu
2m composites trench sampling
The Spassky prospect is located 30km south of Karaganda, adjacent to the national highway between Astana and Almaty. The area has been subject to copper mining in the past and features abundant malachite mineralisation exposed at surface in trenching over an area of 2,000m x 500m.
Hadzhikongan
Trench results to Date:
32m @ 4.3% Cu1
42m @ 3.4% Cu1
1Preliminary Field XRF Results see disclaimer on XRF results on following page.
Field XRF analysis1 of old trenches carried at Hadzikongan reveals excellent grades of up to 36% copper and have confirmed a zone of high grade copper mineralisation outcropping on the surface.
A zone of surface mineralisation can be traced for 300m and the fault can be traced over a distance of approximately 1 km.
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Burnak 1
Trench results to Date:
12m @ 7.22% Cu1
12m @ 2.17% Cu1
12m @ 8.98% Cu1
12m @ 7.23% Cu1
1Preliminary Field XRF Results see disclaimer on XRF results on following page.
Burnak 1 features abundant malachite mineralisation exposed at surface in trenching over a strike distance of approximately 350m trending 110 degrees. Preliminary XRF readings at 2m intervals along four trenches representing 100m of strike distance of the exposed copper zone and recorded an average width and grade of 8m @ 6.3%1 A total of 36 2m composite samples have been submitted for laboratory analysis with results pending.
Burnak 2
Trench results to Date:
4m @ 21.15% Cu1
4m @ 7.8% Cu1
6m @ 23.6% Cu1
1Preliminary Field XRF Results see disclaimer on XRF results on following page.
Burnak 2 features historic shallow workings and trenches extending over a distance of 450m trending 060 degrees.
A shallow south-dipping zone of oxide copper mineralisation has been well-exposed in an inter-connecting trench over a strike distance of 60m withaverage estimated true width and grade of 2m @ 15%1
16 composite (2m) samples submitted for final analysis results pending.
Altynobe
Trench sampling to be completed
The Altyntobe Prospect features abundant malachite (copper oxide) mineralisation at surface trending along an east-west contact zone for up to 2.5 km and which has been exposed in trenching. Historic drilling has indicates at least 300m zone of high grade copper mineralisation along this east-west contact structure.
Zhalair
Samples for both base and precious metal analysis have been submitted for final analysis and results are pending.
The Zhailar prospect is a massive sulphide horizon anomalous in lead-silver-copper-manganese occurring in association with the barite. This type of mineral assemblage is indicative of the distal facies of VMS style deposits whereby lead-manganese-barite mineralisation transitions to copper – zinc - silver - gold closer to the feeder zone. The stratigraphic horizon that hosts this mineralisation can be traced continously for 6km and is an encouraging new discovery for the JV.
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Appendix A – Sharyktinsky Geochemical Results
Trench Sample Type Sample Method From To RL Cu %
Channel Whole Rock 0 2 550 3.55
Channel Whole Rock 2 4 550 5.87
Channel Whole Rock 4 6 550 7.39
Channel Whole Rock 6 8 550 9.12
Channel Whole Rock 8 10 550 7.87
1 Channel Whole Rock 10 12 550 13.56
Channel Whole Rock 12 14 551 10.32
Channel Whole Rock 14 16 551 8.23
Channel Whole Rock 16 18 551 10.32
Channel Whole Rock 18 20 552 7.45
Channel Whole Rock 20 22 552 7.45
Channel Whole Rock 22 24 552 8.45
Channel Whole Rock 0 2 551 8.55
Channel Whole Rock 2 4 551 5.82
Channel Whole Rock 4 6 551 7.96
2 Channel Whole Rock 6 8 551 5.88
Channel Whole Rock 8 10 551 5.05
Channel Whole Rock 10 12 551 6.83
Channel Whole Rock 12 14 551 6.70
Channel Whole Rock 14 16 551 3.15
Channel Whole Rock 0 2 552 5.73
Channel Whole Rock 2 4 552 5.20
3 Channel Whole Rock 4 6 552 4.68
Channel Whole Rock 6 8 552 4.21
Channel Whole Rock 0 2 549 1.00
4 Channel Whole Rock 2 4 549 1.78
Channel Whole Rock 4 6 549 2.41
Channel Whole Rock 6 8 548 1.81
Channel Whole Rock 0 2 547 1.66
Channel Whole Rock 2 4 547 1.84
Channel Whole Rock 4 6 547 1.30
Channel Whole Rock 6 8 547 1.76
5 Channel Whole Rock 8 10 548 1.55
Channel Whole Rock 10 12 548 1.70
Channel Whole Rock 12 14 548 1.87
Channel Whole Rock 14 16 548 2.99
Channel Whole Rock 16 18 548 1.43
Channel Whole Rock 18 20 548 1.12
Channel Whole Rock 0 2 547 1.66
Channel Whole Rock 2 4 547 1.84
Channel Whole Rock 4 6 547 1.30
6 Channel Whole Rock 6 8 547 1.76
Channel Whole Rock 8 10 548 1.55
Channel Whole Rock 10 12 548 1.70
Channel Whole Rock 12 14 548 1.87
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Appendix B – Spassky Geochemical Results
Trench Sample Type Sample Method From To RL Cu %
Channel Whole Rock 0 2 616 4.81
Channel Whole Rock 2 4 616 3.70
Channel Whole Rock 4 6 616 3.69
1 Channel Whole Rock 6 8 615 1.15
Channel Whole Rock 8 10 615 2.23
Channel Whole Rock 10 12 615 5.19
Channel Whole Rock 12 14 615 3.50
Channel Whole Rock 14 16 615 2.42
Channel Whole Rock 0 2 615 0.98
Channel Whole Rock 2 4 615 2.02
Channel Whole Rock 4 6 615 2.76
2 Channel Whole Rock 6 8 615 4.13
Channel Whole Rock 8 10 615 2.96
Channel Whole Rock 10 12 615 9.28
Channel Whole Rock 12 14 615 0.80
Competent Person Statement The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Jordan Luckett
who is a member of the Australian Institute of Mining and Metallurgy. Mr Luckett is an employee of Great Western Exploration Limited and has sufficient
experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr
Luckett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears
Exploration Targets
It is common practice for a company to comment on and discuss its exploration in terms of target size and type. The information in this announcement relating
to exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. Hence the terms Resource(s) or
Reserve(s) have not been used in this context in this announcement. The potential quantity and grade of resource targets are conceptual in nature since there has
been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in the determination of a
Mineral Resource or Ore Reserve.
XRF analysis1
The company will from time to time quote results from XRF analysis that are obtained using a handheld Niton XRF XL3t GOLDD analysis unit, which is the
latest generation Niton currently available. This portable devise provides instant feedback of modal mineralogy including base metal content within a small
8mm x 8mm scanning aperture. Results stated are considered preliminary to subsequent confirmation by geochemical analysis of homogenised samples and are
provided as a guide only. Scanners are calibrated at regular intervals to ensure accuracy. These handheld scanners are more accurate with base metal
mineralisation where economic grades are quoted in percentages; however these machines are not sensitive enough for reliable precious metal detection, even if
the grade is near economic levels. While these machines have been proven to be reasonably accurate in the laboratory when using these units in the field there
are many variables which can affect the accuracy of the readings so the company believes that the results should be considered indicative only and that proper
laboratory chemical analysis is required to confirm the actual grades.
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