| Mon 9 Jul 2007, 14:00 | | GBG- Great Basin Gold - Hollister Project Continue |
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GBG
GBG
GBG- Great Basin Gold - Hollister Project Continues To Deliver Excellent
Results
Great Basin Gold Limited
(Incorporated in Canada and registered as an External Company in South Africa)
(External Company Registration number 2006/021304/10)
Share code: GBG & ISIN: CA3901241057
("Great Basin Gold")
GREAT BASIN GOLD`S HOLLISTER PROJECT CONTINUES TO DELIVER EXCELLENT RESULTS
Highlights from underground drilling include 1.6 ft (0.5 m) grading 22.92 oz/t
(785.7 g/t) gold and 310.94 oz/t (10,661.1 g/t) silver in hole 175 and 0.6 ft
(0.2 m) grading 25.55 oz/t (875.97 g/t) gold and 10.24 oz/t (351.04 g/t) silver
in hole 158
July 9, 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. The underground drill holes are
spaced at 100 ft (30 m) spacing to fill in gaps from surface drilling and to
define and test identified resource expansion areas within the Clementine and
Gwenivere vein systems. This new drilling information will not be taken into
account for the feasibility study, which is nearing completion, but will be
used for continuous adjustments to the current mining plans.
Continued drilling has addressed gaps identified in the database and has
started to expand the known mineral resources. The current work is part of a
second phase 40,000 ft drilling program of which just over 24,000 ft of the
program has been completed. Analytical results for the holes are being released
as they are received. Results for 25 holes are shown in the attached Table of
Assay Results - Underground Drilling.
Highlights include:
- Hole HDB-140 intersected 2.6 ft (0.79 m) grading 0.54 oz/t (18.62 g/t) Au
and 2.69 oz/t (92.40 g/t) Ag from 134.9-137.9 ft (41.1-42.0 m), and 8.5 ft
(2.59 m) grading 0.32 oz/t (10.96 g/t) Au and 1.52 oz/t (52.04 g/t) Ag
from 148.0-158.0 ft (45.1-48.2 m), and 1.2 ft (0.37 m) grading 1.59 oz/t
(54.56 g/t) Au and 6.63 oz/t (227.12 g/t) Ag from 295.4-296.8 ft (90.0-
90.5 m). These results were pending during the last press release.
- 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
(0.49 m) 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 (77.9-78.5m).
- Hole HDB-150 intersected 1.3 ft (0.40 m) grading 0.50 oz/t (17.03 g/t) Au
and 4.61 oz/t (158.12 g/t) Ag from 467.0-469.6 ft (142.3-143.1 m).
- Hole HDB-151 intersected 1.2 ft (0.37 m) grading 3.56 oz/t (121.91 g/t) Au
and 10.27 oz/t (352.21 g/t) Ag from 252.0-253.5 ft (76.8-77.3 m).
- Hole HDB-157 intersected 3.0 ft (0.91 m) grading 0.98 oz/t (33.44 g/t) Au
and 4.43 oz/t (152.05 g/t) Ag from 199.6-202.9 ft (60.8-61.8 m).
- Hole HDB-158 intersected 5.4 ft (1.65 m) grading 1.26 oz/t (43.14 g/t) Au
and 25.08 oz/t (859.82 g/t) Ag from 192.8-198.2 ft (58.8-60.4 m),
including 3.0 ft (0.91 m) grading 1.99 oz/t (68.16 g/t) Au and 44.40 oz/t
(1,522.18 g/t) Ag from 192.8-195.8 ft (58.8-59.7 m). In addition, this
hole intersected 6.4 ft (1.95 m) grading 2.44 oz/t (83.73 g/t) Au and 1.60
oz/t (54.76 g/t) Ag from 267.0-273.4 ft (81.4-83.3m), including 0.6 ft
(0.18 m) grading 25.55 oz/t (875.97 g/t) Au and 10.24 oz/t (351.04 g/t) Ag
from 272.8-273.4 ft (83.2-83.3m)). A third high grade interval was
intersected: 8.6 ft (2.62 m) grading 1.21 oz/t (41.62 g/t) Au and 0.72
oz/t (24.79 g/t) Ag from 301.0-309.6 ft (91.7-94.4 m), including an
interval of 2.0 ft (0.61 m) grading 4.68 oz/t (160.42 g/t) Au and 3.11
oz/t (106.48 g/t) Ag from 307.6-309.6 ft (93.8-94.4 m).
- Hole HDB-166 intersected 3.9 ft (1.19 m) grading 0.45 oz/t (15.57 g/t) Au
and 7.93 oz/t (272.05 g/t) Ag from 237.5-241.5 ft (72.4-73.6 m).
- Hole HDB-174 intersected 0.7 ft (0.21 m) grading 0.84 oz/t (28.80 g/t) Au
and 1.46 oz/t (50.13 g/t) Ag from 55.6-56.8 ft (16.9-17.3 m).
- Hole HDB-175 intersected 0.8 ft (0.24 m) grading 1.31 oz/t (44.91 g/t) Au
and 6.16 oz/t (211.35 g/t) Ag from 27.2-28.0 ft (8.3-8.5 m), and 4.0 ft
(1.22 m) grading 2.95 oz/t (101.16 g/t) Au and 1.57 oz/t (53.77 g/t) Ag
from 230.4-234.4 ft (70.2-71.5 m), and 4.0 ft (1.22 m) grading 9.22 oz/t
(315.98 g/t) Au and 140.41 oz/t (4,814.02 g/t) Ag from 240.0-244.0 ft
(73.2-74.4 m). This last interval contains 1.6 ft (0.49 m) grading 22.92
oz/t (785.74 g/t) Au and 310.94 oz/t (10,661.05 g/t) Ag from 242.4-244.0
ft (73.9-74.4m).
The surface drilling program at Hollister has also progressed substantially and
will be enhanced by the addition of the Great Basin Gold`s own diamond drill,
recently purchased and now field ready. To date, 13 pre-collars (11,590 ft)
have been completed utilizing an RC drill rig and one pre-collar is in
progress. The RC rig has been utilized to complete 4 drill holes comprising
3,580 ft (1,090 m) of drilling. A diamond drill is currently drilling the tail
of the second pre-collar (1,113 ft completed to date). 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 Hollister Development Block and 17 holes, totaling 31,400 ft (9,570
m) are planned in four target areas outside the Hollister Development Block
area.
Ferdi Dippenaar, Great Basin Gold President and CEO commented "Drilling
continues to intersect substantial bonanza-style grades and widths. Most
importantly, vein widths are holding up to expectations, which bode well for
ease of mining. With the information we have to date (the table of results is
available on our website) and the excellent results from continued drilling, we
fully expect to be able to expand resources at depth and along strike."
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.grtbasin.com or call Investor Services in
South Africa at +27 (0) 11 884 1610 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
Vein System Drill Significant Intercepts
Hole ID
Vein Intersection Sample Interval
(ft) (ft)
From To From To
Clementine HDB-140 134.9 137.9
148.0 158.0
295.4 305.3
295.4 296.8
296.8 305.3
Clementine HDB-141 35.5 36.5
62.0 63.0
121.9 123.9
151.2 153.0
208.4 209.9
255.6 257.7
Clementine HDB-142 124.0 127.6
244.9 248.0
Clementine HDB-143 No significant vein intercepts
Clementine HDB-144 24.9 26.1
377.7 379.5
Clementine HDB-145 Results Pending re-runs
Clementine HDB-146 21.0 21.7
223.5 224.8
Clementine HDB-147 19.1 19.7
134.2 135.5
229.8 232.6
Clementine HDB-148 225.7 241.0
225.7 231.0
231.0 235.4
235.4 236.4
236.4 241.0
263.2 267.0
263.2 264.6
264.6 267.0
Clementine HDB-149 32.0 32.5
Clementine HDB-149A 33.6 35.3
358.6 361.2
365.8 367.4
371.2 372.4
Clementine HDB-150 40.8 41.7
464.9 469.6
464.9 467.0
467.0 469.6
Clementine HDB-151 218.2 219.4
252.0 253.5
Clementine HDB-152 145.0 150.0
145.0 146.1
146.1 150.0
Clementine HDB-153 No significant vein intercepts
Clementine HDB-154 248.0 258.0
248.0 250.7
250.7 258.0
Clementine HDB-155 No significant vein intercepts
Gwenivere HDB-156 No significant vein intercepts
Gwenivere HDB-157 199.6 202.9
Gwenivere HDB-158 192.8 198.2
- 192.8 195.8
195.8 198.2
267.0 273.4
267.0 272.8
272.8 273.4
301.0 309.6
301.0 307.6
307.6 309.6
326.3 327.3
Gwenivere HDB159 190.1 190.3
317.0 318.8
Gwenivere HDB-160 Results Pending
Gweni-vere HDB-161 189.3 189.8
Gweni-vere HDB-162 378.5 380.9
Gwenivere HDB-163 Results Pending
Gwenivere HDB-164 Results Pending
Clementine HDB-165 Results Pending
Clementine HDB-166 237.5 241.5
237.5 238.2
238.2 241.5
Clementine HDB-167 Results Pending
Clementine HDB-168 Results Pending
Clementine HDB-169 Results Pending
Clementine HDB-170 Results Pending
Clementine HDB-171 Results Pending
Clementine HDB-172 Results Pending
Clementine HDB-173 Results Pending
Clementine HDB-174 55.6 56.8
Clemenine HDB-175 27.2 28.0
67.4 67.8
79.0 85.0
79.0 80.1
80.1 85.0
175.2 176.2
205.0 210.5
205.0 206.6
206.6 210.5
230.4 234.4
240.0 244.0
240.0 242.4
242.4 244.0
Continued
Vein System Drill Significant Intercepts
Hole ID
Drilled Est. Analytical Results
Thicknes True
s (ft) Width
(ft)
Au Au Ag Ag (g/t)
(oz/t) (g/t) (oz/t)
Clementine HDB-140 3.0 2.6 0.54 18.6 2.69 92.4
10.0 8.5 0.32 11.0 1.52 52.0
9.9 8.4 0.23 8.0 1.100 37.6
0.0 1.2 1.59 54.6 6.63 227.1
8.5 7.2 0.01 0.3 0.18 6.3
Clementine HDB-141 1.0 0.4 0.13 4.5 0.36 12.3
1.0 0.9 0.37 12.6 1.52 52.1
2.0 1.6 0.18 6.3 0.47 16.0
1.8 1.6 1.18 40.5 0.80 27.3
1.5 1.3 0.16 5.3 2.38 81.6
2.1 1.6 1.67 57.3 15.53 532.3
Clementine HDB-142 3.6 2.9 0.12 4.2 0.28 9.5
3.1 2.9 0.52 17.8 1.42 48.6
Clementine HDB-143 No significant vein intercepts
Clementine HDB-144 1.2 0.8 0.32 10.9 0.96 32.8
1.8 1.3 0.16 5.5 0.98 33.6
Clementine HDB-145 Results Pending re-runs
Clementine HDB-146 0.7 0.7 0.03 1.0 0.93 32.0
1.3 1.3 0.07 2.5 0.61 20.9
Clementine HDB-147 0.6 0.6 0.48 16.4 3.86 132.2
1.3 1.3 0.22 7.4 0.97 33.2
2.8 2.7 0.38 13.1 5.42 185.7
Clementine HDB-148 15.3 12.8 0.02 0.6 0.59 20.3
5.3 4.4 0.02 0.6 0.31 10.7
4.4 3.7 0.01 0.4 0.44 15.2
1.0 0.8 0.04 1.2 4.11 140.8
4.6 3.9 0.01 0.5 0.29 9.9
3.8 3.2 0.42 14.5 7.08 242.8
1.4 1.2 0.22 7.4 0.70 23.9
2.4 2.0 0.54 18.7 10.81 370.5
Clementine HDB-149 0.5 0.3 0.06 1.9 2.86 98.1
Clementine HDB-149A 1.7 1.1 0.11 3.9 1.44 49.3
2.6 1.7 0.11 3.7 1.05 36.2
1.6 1.0 0.18 6.1 0.00 0.0
1.2 0.8 0.09 3.0 1.24 42.6
Clementine HDB-150 0.9 0.5 0.03 1.1 1.93 66.0
4.7 2.4 0.31 10.5 3.39 116.3
2.1 1.1 0.07 2.5 1.88 64.4
2.6 1.3 0.50 17.0 4.61 158.1
Clementine HDB-151 1.2 1.0 1.96 67.1 4.37 149.7
1.5 1.2 3.56 121.9 10.27 352.2
Clementine HDB-152 5.0 4.7 0.05 1.6 0.66 22.7
1.1 1.0 0.20 6.9 2.58 88.5
3.9 3.7 0.00 0.1 0.12 4.1
Clementine HDB-153 No significant vein intercepts
Clementine HDB-154 10.0 8.7 0.21 7.3 0.00 0.2
2.7 2.3 0.77 26.3 0.00 0.0
7.3 6.3 0.01 0.3 0.01 0.2
Clementine HDB-155 No significant vein intercepts
Gwenivere HDB-156 No significant vein intercepts
Gwenivere HDB-157 3.3 3.0 0.98 33.4 4.43 152.1
Gwenivere HDB-158 5.4 5.4 1.26 43.1 25.08 859.8
3.0 3.0 1.99 68.2 44.40 1,522.2
2.4 2.4 0.35 11.9 0.93 31.9
6.4 6.4 2.44 83.7 1.60 54.8
5.8 5.8 0.05 1.8 0.70 24.1
0.6 0.6 25.55 876.0 10.24 351.0
8.6 8.6 1.21 41.6 0.72 24.8
6.6 6.6 0.16 5.6 0.00 0.0
2.0 2.0 4.68 160.4 3.11 106.5
1.0 1.0 0.30 10.1 0.00 0.0
Gwenivere HDB159 0.2 0.2 0.34 11.7 3.85 132.0
1.8 1.4 0.32 11.0 1.52 52.0
Gwenivere HDB-160 Results Pending
Gwenivere HDB-161 0.5 0.5 0.14 4.7 0.15 5.0
Gwenivere HDB-162 2.4 2.3 0.25 8.6 0.21 7.3
Gwenivere HDB-163 Results Pending
Gwenivere HDB-164 Results Pending
Clementine HDB-165 Results Pending
Clementine HDB-166 4.0 3.9 0.45 15.6 7.93 272.1
0.7 0.7 2.53 86.9 42.82 1,468.3
3.3 3.2 0.01 0.4 0.53 18.3
Clementine HDB-167 Results Pending
Clementine HDB-168 Results Pending
Clementine HDB-169 Results Pending
Clementine HDB-170 Results Pending
Clementine HDB-171 Results Pending
Clementine HDB-172 Results Pending
Clementine HDB-173 Results Pending
Clementine HDB-174 1.2 0.7 0.84 28.8 1.46 50.1
Clementine HDB-175 0.8 0.8 1.31 44.9 6.16 211.4
0.4 0.4 2.20 75.4 1.93 66.0
6.0 6.0 0.11 3.8 0.40 13.8
1.1 1.1 0.31 10.7 1.92 65.7
4.9 4.9 0.06 2.2 0.06 2.1
1.0 1.0 0.18 6.2 0.77 26.4
5.5 5.5 0.10 3.4 1.78 61.2
1.6 1.6 0.07 2.4 0.15 5.0
3.9 3.9 0.11 3.8 2.46 84.3
4.0 4.0 2.95 101.2 1.57 53.8
4.0 4.0 9.22 316.0 140.41 4,814.0
2.4 2.4 0.08 2.8 26.72 916.0
1.6 1.6 22.92 785.7 310.94 10,661.1
Date: 09/07/2007 14:00:01 Produced by the JSE SENS Department.
