| Fri 11 Jan 2008, 8:00 | | GBG - Great Basin Gold Limited - Development Of Second Outlet For Burnstone Gold |
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GBG
GBG
GBG - Great Basin Gold Limited - Development Of Second Outlet For Burnstone Gold
Project In South Africa
Press Release
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
TSX: GBG
AMEX: GBN
("GREAT BASIN" OR "THE COMPANY")
1020 - 800 West Pender Street
Vancouver, BC Canada V6C 2V6
Tel 604 684u6365
Fax 604 684u8092
Toll Free 1 800 667u2114
www.greatbasingold.com
GREAT BASIN ANNOUNCES DEVELOPMENT OF SECOND OUTLET
FOR BURNSTONE GOLD PROJECT IN SOUTH AFRICA
January 9, 2008 Vancouver BC. Great Basin Gold Ltd. ("Great Basin" or the
"Company") announces that the sinking of the planned second outlet at its
Burnstone Mine near Balfour, Mpumulanga Province, South Africa, will commence in
accordance with the requirements of the Mine Health and Safety Act, 1996.
The second outlet will take the form of the sinking of a short vertical access
shaft, some 495 metres deep, which will link up with the decline currently under
development to mine a metallurgical bulk sample. The second outlet will enhance
the health and safety program at Burnstone Mine by providing an alternative
outlet to employees and operators that are currently developing the prospecting
decline that will eventually be approximately 3.2 kilometres in length. The
second outlet will be constructed by Grinaker Construction at a cost of
approximately ZAR 260 million (US$38 million) and will take 15 months to
complete.
President and CEO Ferdi Dippenaar said:
"We have a policy of creating a working environment that will be "Always Safe"
in respect to our employees and assets, and we are pleased to announce that
after discussions with representatives of the DME, we will proceed with the
sinking of the planned vertical shaft. Although the Burnstone Mine Mining Right
Application was submitted to the DME in September 2007 and is currently being
processed, the company has undertaken not to use the vertical shaft and
associated infrastructure for commercial production purposes until the
application has been granted. "
Great Basin has two advanced stage gold projects in two of the world`s best gold
environments. In addition to its Burnstone Gold Project in South Africa`s
Witwatersrand Goldfield, the Company holds a 100% interest in the Hollister
Property on the Carlin Trend in Nevada, USA.
For additional details on Great Basin and its gold properties, please visit the
Company`s website at www.grtbasin.com or contact Investor Services:
Tsholo Serunye in South Africa 27 11 301 1800
Melanee Henderson in North America 1 800 667-2114
Barbara Cano at Breakstone Group in the USA (646) 452-2334
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: 11/01/2008 08:00:01 Produced by the JSE SENS Department.
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