Vancouver, Canada — MININGREVIEW.COM — 06 August 2008 – Great Basin Gold Limited (GBG) – an emerging mid-tier gold producer listed on the Toronto and American stock exchanges – is making good progress with underground drilling at its Hollister project on the Carlin trend in Nevada, in the United States.
A news release issued here said the company had drilled underground holes at 30 m spacing to fill in gaps, and to better define and test areas identified for resource expansion within the Clementine and Gwenivere vein systems.
It explained that drilling had been conducted from January through June 2008. This work was part of a 8 534 m Phase One infill and exploration programme, approved by the company’s board in November 2007, of which 5 486 m had been completed.
GBG President and CEO Ferdi Dippenaar, commented: “We are making good progress with the US$14.4 million (R108 million) exploration programme we announced in December 2007. The focus of the in-fill drilling programme has – at a cost of US$2.2 million R16.5 million) – been to upgrade our resources from the inferred to measured and indicated categories,” he added.
“The remaining 10 000 ft of the underground in-fill drilling programme will be completed during the second half of 2008,” Dippenaar continued. “The focus will then shift to the planned US$4.5 million (R34 million) programme to determine the strike and depth extent of the mineralisation,” he concluded.”
GBG also wholly-owns the Burnstone gold project in South Africa – which is scheduled to produce an average of 214 000 oz per annum from 2011 for at least 14 years.