| Wed 11 Jul 2007, 14:05 | | GBG - Great Basin Gold - Great Basin Gold Receives |
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GBG
GBG
GBG - Great Basin Gold - Great Basin Gold Receives BLM approval for second
decline at Hollister project, Nevada
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 RECEIVES BLM APPROVAL FOR SECOND DECLINE AT HOLLISTER PROJECT,
NEVADA
July 10, 2007, Vancouver BC - Great Basin Gold Ltd ("Great Basin Gold" or the
"Company") announces that the Bureau of Land Management ("BLM") has approved the
Second Decline Amendment to the Hollister Development Block Plan of Operations.
The approval is subject to Nevada Division of Environmental Protection approval
of an Engineering Design Change, expected to be received next week, and other
conditions as outlined in the BLM letter dated June 26, 2007.
Construction of a second decline is a high priority for the Company as it will
result in safety improvements, increase haulage capacity for the potential mine
development as well as providing a second fresh air intake in the future. Other
underground development of the Hollister Project is well advanced and includes a
primary decline, drill lateral, crosscuts to the veins and initial drifting on
veins, bulk sampling as well as underground exploration drilling, all completed
in conjunction with feasibility study for the project which will be released in
the next few days.
President and CEO Ferdi Dippenaar said: "We are pleased with the progress of the
Hollister Project and see the receipt of the BLM approval as a major milestone
in the development of a mine at Hollister. Staffing of the Hollister Project is
advancing and the caliber of the individuals who have joined the Company in
senior positions is a good indicator of the excellent progress being made by the
management team."
Great Basin Gold has two advanced stage gold projects in two of the world`s best
gold environments. In addition to its the Hollister Property on the Carlin
Trend in Nevada, USA, the Company is developing the Burnstone Gold Project in
South Africa`s Witwatersrand Goldfield.
For more information on Great Basin and its projects, please visit the Company`s
website at www.grbasin.com or call Investor Services at +27 (0) 11 884 1610 or
within North America at 1-800-667-2114.
Ferdi Dippenaar
President and CEO
No regulatory authority has approved or disapproved the information contained in
this news release.
Cautionary and Forward Looking Statement Information
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, reserve potential,
exploration drilling results, development, feasibility or exploitation
activities and events or developments that Great Basin ("the Company") 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, 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 the
Company, Investors should review the Company`s annual Form 20-F filing with the
United States Securities Commission and its home jurisdiction filings that are
available at www.sedar.com.
Date: 11/07/2007 14:05:09 Produced by the JSE SENS Department.
