| Tue 8 May 2007, 16:36 | | GBG - Great Basin - Press Release - additional und |
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GBG
GBG
GBG - Great Basin - Press Release - additional underground drilling results
discovers more veins at Hollister, Nevada
GREAT BASIN GOLD LIMITED
(Incorporated in Canada and registered as an External Company in South Africa)
(Registration No. 2006/021304/10)
Share Code: GBG & ISIN Number: CA3901241057
"Great Basin" or "the Company")
GREAT BASIN GOLD ANNOUNCES ADDITIONAL UNDERGROUND DRILLING RESULTS DISCOVERS
MORE VEINS AT HOLLISTER, NEVADA
Highlights 2.0 ft(0.6 m) grading 21.61 oz/t (740.9 g/t) Au; 137.68 oz/t (4720.4
g/t) Ag in hole 137
May 8, 2007, Vancouver, BC - Great Basin Gold Ltd. (TSX: GBG; AMEX: GBN; JSE: GB
Gold) announces further results from underground drilling at the Hollister
Project on the Carlin Trend in Nevada, USA. Drilling has taken place at 100 ft
(30 m) spacing to fill in gaps from surface drilling within the Clementine and
Gwenivere vein systems, in preparation of the feasibility study which is
targeted for completion by the end of June 2007, subject to completion of
upgrades in the resource classifications.
Great Basin Gold is now the holder of a 100% working interest in the Hollister
Project following the buy-out of a third party`s earn-in rights under an April
19th, 2007 agreement (previously announced).
Continued drilling was planned and initiated from the underground development to
address any gaps identified in the database and to expand the known mineral
resources. Great Basin Gold has initiated a further 40,000 ft (12,200 m)
underground drilling program, over and above the 55,000 ft (16,750 m) program
that had been completed up to February of this year. Just over 10,000 ft (3,000
m) of the new program has been completed. Analytical results for the final holes
are being released as they are received. The following results are for 22 holes
shown in the attached Table of Assay Results - Underground Drilling, and are
mainly from drilling in and nearby to the Clementine vein system. Several new
veins have been discovered during the drilling within this system, as indicated
by the multiple intersections reported in the Table of Assay Results.
Highlights include:
- Hole HDB-127 intersected 2.6 ft (0.79 m) grading 0.99 oz/t (33.94 g/t) Au
and 4.87 oz/t (166.97 g/t) Ag from 333.0-337.3 ft (101.5-102.8 m).
- Hole HDB-128 intersected 2.9 ft (0.88 m) grading 1.55 oz/t (53.11 g/t) Au
and 1.86 oz/t (63.60 g/t) Ag from 408.0-412.5 ft (124.4-125.7 m).
- Hole HDB-131 intersected 1.5 ft (0.46 m) grading 6.86 oz/t (235.27 g/t) Au
and 16.05 oz/t (550.11 g/t) Ag from 186.7-188.4 ft (56.9-57.4 m), and 5.9
ft (1.80 m) grading 1.14 oz/t (39.22 g/t) Au and 2.43 oz/t (83.31 g/t) Ag
from 337.0 - 343.3 ft (102.7-104.3 m), as well as 1.1 ft (0.34 m) grading
2.18 oz/t (74.67 g/t) Au and 11.44 oz/t (392.19 g/t) Ag from 418.6 - 420.0
ft (127.6-128.0 m).
- Hole HDB-136 intersected 0.8 ft (0.24 m) grading 1.55 oz/t (53.04 g/t) Au
and 5.33 oz/t (182.81 g/t) Ag from 232.0-232.9 ft (70.7-71.0 m) and 1.5 ft
(0.46 m) grading 7.63 oz/t (261.57 g/t) Au and 26.73 oz/t (916.51 g/t) Ag
from 240.0 -241.6 ft (73.2-73.6 m).
- Hole HDB-137 intersected 3.8 ft (1.16 m) grading 11.63 oz/t (398.74 g/t) Au
and 81.13 oz/t (2781.60 g/t) Ag from 200.8-204.8 ft (61.2-62.4 m),
including an interval of 2.0 ft (0.61 m) grading 21.61 oz/t (740.91 g/t) Au
and 137.68 oz/t (4720.42 g/t) Ag from 200.8 - 202.9 ft (61.2-61.8m), and
1.1 ft (0.34 m) grading 1.62 oz/t (55.68 g/t ) Au and 9.41 oz/t (322.56
g/t) Ag from 371.8 - 373.0 ft (113.3-113.7 m), and 1.0 ft (0.30 m) grading
4.74 oz/t (162.55 g/t) Au and 9.88 oz/t (338.78 g/t) Ag from 424.9 - 425.9
ft (129.5-129.8m), and 1.4 ft (0.43 m) grading 1.41 oz/t (48.17 g/t) Au and
2.21 oz/t (75.74 g/t) Ag from 493.0 - 494.5 ft (150.3-150.7 m), and 1.5 ft
(0.46 m) grading 1.90 oz/t (65.03 g/t) Au and 5.93 oz/t (203.28 g/t) Ag
from 531.4-533.0 ft (162.0-162.5 m), and 1.6 ft (0.49 m) grading 1.49 oz/t
(50.91 g/t) Au and 9.35 oz/t (320.71 g/t) Ag from 543.0-544.9 ft (165.1-
166.1 m).
- Hole HDB-138 intersected 2.9 ft (0.88 m) grading 1.84 oz/t (63.15 g/t) Au
and 8.46 oz/t (290.06 g/t) Ag from 265.3-268.4 ft (80.9-81.8 m).
- Hole HDB-140 intersected 1.4 ft (0.43 m) grading 1.59 oz/t (54.55 g/t) Au
and 6.63 oz/t (227.18 g/t) Ag from 295.4-296.8 ft (90.0-90.5 m).
- Hole HDB-141 intersected 1.6 ft (0.49 m) grading 1.18 oz/t (40.49 g/t) Au
and 0.80 oz/t (27.26 g/t) Ag from 151.2-153.0 ft (46.1-46.6 m), and 1.6 ft
(0.49m) grading 1.67 oz/t (57.26 g/t) Au and 15.53 oz/t (532.32 g/t) Ag
from 255.6-257.7 ft (77.91-78.55m).
The surface drilling program has also been initiated after many months delay due
to the lack of available diamond drill rigs. To date 10 pre-collars (8,740
feet) have been completed utilizing an RC drill rig and one pre-collar is in
progress. A diamond drill is currently drilling the tail of the first pre-
collar (1,070 feet completed). Twenty-eight drill holes, totaling 48,850 ft
(14,890 m) are planned on the Hollister property. Of these, 11 holes, totaling
14,450 ft (4,400 m) are planned to test five targets within the HDB and 17
holes, totaling 31,400 ft (9,570 m) are planned in four target areas outside the
HDB area.
Ferdi Dippenaar, Great Basin Gold President and CEO commented "The continued
drilling of the Clementine vein system is proving up the existence of a number
of veins that were not delineated by the historical surface and previous
underground exploration programs. This bodes well for the revised resource
estimation which is being prepared for inclusion in the feasibility study. Early
indications are that there is an improvement in both the widths and grades of
the Clementine veins systems as drilling continues. Future drilling will also be
focused on the continuation of the vein systems at depth."
Gernot Wober, P.Geo, a qualified person and V.P. Exploration of Great Basin
Gold, is monitoring the program on behalf of Great Basin Gold and has reviewed
this news release.
Great Basin Gold has two advanced stage gold projects in two of the world`s best
gold environments: the Hollister property on the Carlin Trend of Nevada, USA,
and the Burnstone Gold Project in the Witwatersrand Goldfield of South Africa.
For more information on Great Basin and its projects, please visit Great Basin
Gold`s website at www.greatbasingold.com or call Investor Services at 604-684-
6365 or within North America at 1-800-667-2114.
Ferdi Dippenaar
President and CEO
Samples collected from the Hollister Development Block Project are stored in a
secure facility until picked up by Inspectorate America Corporation
(Inspectorate) of Sparks, Nevada. Vein samples are analyzed by either metallic
screen or standard fire assay procedures. For metallic screen analyses, vein
sample preparation consists of drying and jaw-crushing the entire sample to 90%
passing 10-mesh, taking a 500 g sub-sample using a rotary splitter, and then
pulverizing the 500 g sub-sample to 90% passing 150-mesh using a large capacity
ring and puck pulverizer. Gold and silver determinations are by metallic screen
analysis, with two 1 assay-ton (30 g) fire assays completed on the fine
fraction; the coarse fraction is fire assayed in its entirety. For standard
fire assay, vein sample preparation consists of drying and jaw-crushing the
entire sample to 90% passing 10-mesh, taking a 300 g sub-sample using a Jones
splitter, and then pulverizing the 300 g sub-sample to 90% passing 150-mesh
using a large capacity ring and puck pulverizer. A 30 g charge is fire assayed.
All metal determinations are by gravimetric finish. Vein samples analyzed by
standard fire assay will be re-assayed using metallic screen procedures.
Laboratory Quality Assurance/Quality Control (QA/QC) is monitored using coarse
reject blanks and assay standards, duplicate fire assays, and Inspectorate`s
internal standards and blanks. Coarse blanks (barren rhyolite or landscape
marble) and assay standards are inserted into the sample sequence as blind
samples prior to submitting the samples to the laboratory. Inspectorate also
inserts assay standards and blanks into the sample stream. QA/QC results are
within acceptable limits.
No regulatory authority has approved or disapproved the information contained in
this news release.
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address possible future commercial production, resource potential,
exploration drilling results, feasibility or exploitation activities and events
or developments that Great Basin Gold expects to occur are forward-looking
statements. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes, delay
in the completion of the feasibility study, continuity of mineralization, and
continued availability of capital and financing, and general economic, market or
business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and those actual results or developments may
differ materially from those projected in the forward-looking statements. For
more information on Great Basin Gold, Investors should review the Company`s
annual Form 20-F filing with the United States Securities and Exchange
Commission and its home jurisdiction filings that are available at
www.sedar.com.
HOLLISTER DEVELOPMENT BLOCK UNDERGROUND DRILLING ASSAY RESULTS
Drill Vein Significant Intercepts
Hole System
ID
Drill Interval (ft) Drilled Est. Analytical
Thickness True Results
(ft) Width
(ft)
From To Au Ag
(opt) (opt)
HDB- Clementine 78.5 80.0 1.5 1.2 0.185 0.39
115
263.0 265.5 2.5 1.3 0.415 0.95
265.5 266.6 1.1 0.7 1.643 5.18
266.6 267.6 1.0 0.7 1.185 3.59
HDB- Clementine 320.0 322.0 2.0 1.3 0.289 6.63
116
HDB- Clementine 134.0 138.0 4.0 3.9 0.147 0.45
117
327.0 334.0 7.0 4.9 0.104 0.05
HDB- Clementine 191.3 192.3 1.0 0.6 0.131 0.15
118
233.6 238.4 4.8 4.4 0.168 0.41
272.5 279.0 6.5 5.0 0.383 0.08
289.0 293.0 4.0 3.1 0.105 0.01
293.0 299.0 6.0 4.6 0.269 0.06
HDB- Clementine 203.5 205.7 2.2 1.8 0.271 0.84
119
HDB- Clementine 180.4 181.2 0.8 0.6 0.236 2.39
120
HDB- Clementine 98.0 98.3 0.3 0.3 0.102 1.12
121
221.9 224.4 2.5 2.5 1.050 4.24
HDB- Clementine 291.2 292.0 0.8 0.6 1.803 0.34
122
292.0 293.3 1.3 0.9 0.011 0.07
293.3 294.4 1.1 0.8 0.030 3.52
294.4 295.4 1.0 0.7 0.002 0.04
295.4 297.4 2.0 1.4 0.520 5.16
HDB- Clementine 48.9 50.8 1.9 1.7 0.144 1.22
123
179.0 180.6 1.6 0.8 1.139 0.49
199.0 200.6 1.6 1.6 0.350 1.77
246.5 249.5 3.0 2.5 0.364 1.39
246.5 249.5 3.0 2.5 0.364 1.39
HDB- Clementine 12.8 14.0 1.2 1.2 0.282 0.62
124
55.9 57.9 2.0 1.0 0.152 0.51
57.9 59.0 1.1 1.1 0.591 0.89
67.4 68.5 1.1 1.1 0.296 0.89
189.2 190.2 1.0 1.0 0.235 0.06
211.7 212.9 1.2 1.0 0.107 0.26
230.5 231.9 1.4 1.3 1.117 26.55
HDB- Clementine 86.3 87.3 1.0 0.9 0.119 0.12
125
193.1 194.0 0.9 0.8 0.339 0.25
223.3 225.0 1.7 1.6 0.053 0.65
225.0 227.0 2.0 1.9 0.348 1.70
324.5 327.4 2.9 2.5 0.151 3.36
HDB- Clementine 34.0 36.5 2.5 1.1 0.179 0.45
126
68.0 72.0 4.0 3.1 0.468 0.33
164.2 165.5 1.3 1.2 0.195 0.26
276.5 279.3 2.8 2.8 1.565 22.14
HDB- Clementine 86.0 87.0 1.0 0.6 0.211 0.45
127
333.0 335.0 2.0 1.4 1.563 6.34
335.0 337.3 2.3 1.2 0.328 3.15
HDB- Clementine 96.0 101.3 5.3 2.7 0.150 0.06
128
101.3 109.0 7.7 5.9 0.124 0.37
408.0 412.5 4.5 2.9 1.549 1.86
HDB- Gwenivere No significant vein
129 intercepts
HDB- Gwenivere 217.4 219.1 1.7 1.5 0.803 2.180
130
329.2 332.0 2.8 2.1 0.230 0.716
417.7 420.0 2.3 1.6 0.223 0.930
422.7 422.9 0.2 0.2 0.278 0.627
HDB- Gwenivere 186.7 188.4 1.7 1.5 6.862 16.05
131
199.4 199.7 0.3 0.3 0.183 1.52
331.7 337.0 5.3 5.0 0.268 0.69
337.0 343.3 6.3 5.9 1.144 2.43
386.0 386.7 0.7 0.7 0.838 2.25
418.6 420.0 1.4 1.1 2.178 11.44
458.6 459.2 0.6 0.6 0.527 3.57
555.0 560.0 5.0 4.5 0.119 0.06
HDB- Gwenivere 187.0 197.0 10.0 6.8 0.132 0.01
132
210.6 212.0 1.4 1.1 0.267 0.18
219.5 220.6 1.1 0.9 0.116 0.38
517.0 518.1 1.1 0.8 0.148 0.38
HDB- Gwenivere No significant vein
133 intercepts
HDB- Gwenivere 168.7 172.9 4.2 3.4 0.110 0.08
134
HDB- Gwenivere No significant vein
135 intercepts
HDB- Gwenivere 232.0 232.9 0.9 0.8 1.547 5.33
136
240.0 241.6 1.6 1.5 7.629 26.73
241.6 247.0 5.4 4.3 0.234 5.36
HDB- Gwenivere 200.8 202.9 2.1 2.0 21.610 137.68
137
202.9 204.8 1.9 1.8 0.542 18.29
275.9 277.6 1.7 1.5 0.242 2.45
330.0 331.4 1.4 1.4 0.301 0.43
371.8 373.0 1.2 1.1 1.624 9.41
398.9 400.6 1.7 1.1 0.424 0.13
424.9 425.9 1.0 1.0 4.741 9.88
493.0 494.5 1.5 1.4 1.405 2.21
531.4 533.0 1.6 1.5 1.897 5.93
543.0 544.9 1.9 1.6 1.485 9.35
HDB- Gwenivere 265.3 268.4 3.1 2.9 1.842 8.46
138
268.4 272.2 3.8 3.6 0.121 0.00
HDB- Gwenivere 24.3 25.3 1.0 0.8 0.89 7.37
139
28.60 29.60 1.0 0.8 0.17 0.47
HDB- Clementine 134.9 137.9 3.0 2.6 0.543 pending
140
295.4 296.8 1.4 1.4 1.591 6.63
HDB- Clementine 35.5 36.5 1.0 0.4 0.130 0.36
141
62.0 63.0 1.0 0.9 0.368 1.52
121.9 123.9 2.0 1.6 0.183 0.47
151.2 153.0 1.8 1.6 1.181 0.80
208.4 209.9 1.5 1.3 0.155 2.38
255.6 257.7 2.1 1.6 1.670 15.53
HDB- Clementine 124.0 127.6 3.6 2.9 0.122 0.28
142
244.9 248.0 3.1 2.9 0.519 1.42
HDB- Clementine pending pending
143
HDB- Clementine 24.9 26.1 1.2 0.8 0.319 0.96
144
377.7 379.5 1.8 1.3 0.160 0.98
Date: 08/05/2007 16:36:04 Produced by the JSE SENS Department.
