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Tuesday, 30th January 2007 (3431 views)

Great Basin Gold has just announced an update of its gold resources which are currently being explored at the Burnstone gold project in the Witwatersrand Basin of South Africa.

Some 15 drill holes have now been made and the results for eight of these are available and have been incorporated into the resource model and new mineral estimates.

The rest of the drilling programme will hopefully be finished by March with the results then also incorporated into a mining plan which is being organised by Turgis Engineering.

Fred Dippenaar, the president and chief executive officer of Great Basin Gold, said: "The objective of the 2006 drilling program was to expand and upgrade the mineral resources of the deposit.

With an overall increase of 800,000 ounces, this objective was successfully achieved."

He added that the updated resource model has been forwarded to Turgis who will use it to update, expand and optimise the mine plan from the 2006 feasibility study.

The firm also hopes that the production profile from Burnstone could increase by between ten per cent and 15 per cent.

Gold Basin Gold is committed to developing mining in South Africa and Nevada.

 

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