HomeGoldBurnstone on track for commissioning in June 2010

Burnstone on track for commissioning in June 2010

Great Basin Gold’s
Burnstone mine
Vancouver, Canada — MININGREVIEW.COM — 14 October 2009 – Great Basin Gold Limited (GBG) – an emerging mid-tier gold producer listed on the Toronto and American stock exchanges – is on track for commissioning of its Burnstone mine, 80 km south-east of Johannesburg, by the end of June 2010.

The US178 million R1.5 billion) operation is scheduled to reach a production level of 254 000 oz pa by 2011, and has definite prospects to reach far beyond that level in the medium to long-term future.

Announcing updated mineral resource estimates and general project progress here, the company revealed that total measured and indicated resources had increased by 6% from approximately 10.9 Moz to 11.6 Moz Au, and that inferred resources had risen from about 2.4 Moz Au to 4.6 Moz Au.

It added that the company was currently well advanced in the development programme designed to take the Burnstone project to commercial production.

The company went on to say that as at 30 September, a total of 420m of reef development had been completed with approximately 22 000 ore tonnes accumulated on the surface stockpile. The vertical shaft had progressed to 407m below surface, with 85m remaining to shaft bottom. Station development was currently underway on 40 Level, which would service as the haulage and tipping level.

Work on the construction of the foundation for the metallurgical plant had been completed, and contractors had moved to site to start plant erection.

President and CEO Ferdi Dippenaar commented: “Development of this exciting project continues in line with plan and is on track for commissioning by end of June 2010. Another exciting aspect is the commencement of trial mining this month to determine optimal mining methods. The current mining plan has assumed the mining of only 4.1 million ounces of the 12.5 million ounces of the resource. The positive results from the ongoing surface and now underground exploration programmes continue to add resource ounces which could positively impact on the future development and production profile in the Burnstone region,” he concluded.