Great Basin ups Burnstone resources

Vancouver – Extensive drilling of Great Basin Gold’s (GBG-T) Burnstone deposit in the Witwatersrand Basin of South Africa, has increased the resources in Areas 1 and 2. The Burnstone goldfield is situated in the northeastern part of the Witwatersrand Basin, 80 km southeast of Johannesburg. Hunter Dickinson-led

Great Basin acquired the Burnstone project earlier this year through its purchase of African-based Southgold Exploration (Pty) Ltd.

The new measured and indicated resources total 29.2 million tonnes grading 5.73 grams gold per tonne containing some 5.37 million ounces gold at a 350 gram cm per tonne cut-off, diluted over 1 metre.

This represents a 17% increase in the contained ounces when compared with the 19.3 million tonnes averaging 7.5 grams gold or 4.6 million contained ounces outlined in Area 1 in June 2003. The new resource estimate is based on another 23 holes.

Area 2 at the same cut-off, contains some 2.8 million ounces gold in 13.5 million tonnes grading 6.50 grams gold in the inferred resource category.

The resource estimates were done by two South African-based consulting firms with first-hand knowledge in the Witwatersrand basin. The results were diluted to a one metre mining width in areas where the reef was less than a metre wide.