high-grade copper hits at great western exploration limited · 8th october 2012 high-grade copper...

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

[email protected]

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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http://www.greatwesternexploration.com.au/

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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


24m @ 8.30% Cu

16m @ 6.24% Cu

8m @ 4.96% Cu

8m @ 1.75% Cu

20m @ 1.72% Cu

16m @ 2.08% Cu


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


16m @ 3.34% Cu

14m @ 3.28% Cu


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


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


12m @ 7.22% Cu1

12m @ 2.17% Cu1

12m @ 8.98% Cu1

12m @ 7.23% Cu1


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


4m @ 21.15% Cu1

4m @ 7.8% Cu1

6m @ 23.6% Cu1


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





1 Channel Whole Rock 10 12 550 13.56








































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Appendix B – Spassky Geochemical Results

Trench Sample Type Sample Method From To RL Cu %
















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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high-grade copper hits at great western exploration limited · 8th october 2012 high-grade copper...

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