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WGR
WGR
WGR - Wits Gold - Wits Gold Granted Beisa South Prospecting Right In The
Southern Free State Goldfield
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
ISIN: ZAE000079703
TSX Code: WGR
CUSIP Number: S98297104
(`Wits Gold` or `the Company`)
WITS GOLD GRANTED BEISA SOUTH PROSPECTING RIGHT IN THE SOUTHERN FREE STATE
GOLDFIELD
Wits Gold is pleased to announce that the Company has been granted a new
prospecting right for gold and uranium in the Free State Province in terms of
Section 17 of the Minerals and Petroleum Resources Development Act, Act 28 of
2002. The prospecting right covers an extent of 5828 hectares in the Theunissen
District and is strategically positioned immediately south of the former Beisa
uranium mine, now a division of Gold Fields` Beatrix gold mine. Wits Gold will
now complete a review of the historical data from this Beisa South project,
where both the Beatrix and Beisa reefs have previously been intersected.
Following this review, further exploratory drilling may be required in order to
estimate the mineral resources at Beisa South.
Within the Company`s existing prospecting rights in the adjacent Bloemhoek and
De Bron projects, Wits Gold has completed five boreholes to date. Information
from these boreholes has resulted in an increase in the indicated mineral
resource in these areas from an initial estimate of 3.9 Moz at an average grade
of 5.2 g/t Au to 14.0 Moz at an average grade of 6.4g/t Au. Further details are
presented in the independent NI43-101 technical report that is available on the
Company`s website www.witsgold.com.
Diamond drilling is also currently being undertaken in the Company`s
Kleinfontein project adjacent to the Carletonville Goldfield, where the Carbon
Leader is expected to be intersected at depths of the order of 2000 metres below
surface. In addition, the services of a diamond drill rig have recently been
secured for the drilling programme in the Kromdraai project in the Klerksdorp
Goldfield.
Wits Gold has now been granted a total of 10 prospecting rights covering 96867
hectares. These rights, situated in the Free State, Potchefstroom and Klerksdorp
Goldfields of the Witwatersrand Basin, contain a total indicated resource of
19.4 Moz of gold in addition to an inferred resource of 130.4 Moz of gold and
54.3 Mlbs of uranium. The Company is currently focusing exploration on a number
of priority projects selected on the basis of their potential to host world
class gold and uranium deposits.
For further information please contact:
Dr. Marc Watchorn
Chief Executive Officer
Tel: +27 11 832 1749
Mr. Hethen Hira
Investor Relations
Tel: +27 11 832 1749
Johannesburg
2 April 2008
Sponsor: PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 02/04/2008 12:18:28 Produced by the JSE SENS Department.
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