|
GBG
GBG
GBG - Great Basin - Underground Infill Drilling At The Hollister Project
Continues To Confirm Deposit Prospectivity
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")
UNDERGROUND INFILL DRILLING AT THE HOLLISTER PROJECT CONTINUES
TO CONFIRM DEPOSIT PROSPECTIVITY
August 5, 2008, Vancouver, BC - Great Basin Gold Ltd. (TSX: GBG; AMEX: GBN;
JSE: GBG) (hereafter "Great Basin Gold" or the "Company") announces further
results from underground drilling at the Hollister Project on the Carlin
Trend in Nevada, USA. The underground holes are at 100 ft (30 m) spacing to
fill in gaps, and better define and test areas identified for resource
expansion within the Clementine and Gwenivere vein systems.
Drilling was conducted from January through June 2008. This work is part of a
28,000 ft (8,534 m) Phase One infill and exploration program, approved by the
Company`s Board in November 2007, of which 18,000 ft (5,486 m) has been
completed. Results from 30 holes are shown in the attached Table of Assay
Results. Highlights include:
Gwenivere Vein System
Hole HDB-214 intersected 8.9 ft (2.71 m) grading 0.50 oz/t (17.2 g/t) Au and
1.00 oz/t (34.5 g/t) Ag from 438.0-448.3 ft (133.5-136.6 m), including 2.6 ft
(0.8 m) grading 1.41 oz/t (48.2 g/t) Au and 3.20 oz/t (111.0 g/t) Ag from
440.5-443.5 ft (134.3-135.2 m).
Hole HDB-218 intersected 4.5 ft (1.37 m) grading 0.43 oz/t (14.7 g/t) Au and
52.30 oz/t (1789.0 g/t) Ag from 122.6-127.3 ft (37.4-38.8 m), including 2.5
ft (0.76 m) grading 0.58 oz/t (19.9 g/t) Au and 71.00 oz/t (2430.0 g/t) Ag
from 123.4-126.0 ft (37.6-38.4 m). In addition, this hole intersected 1.2 ft
(0.37 m) grading 0.30 oz/t (10.2 g/t) Au and 0.70 oz/t (25.0 g/t) Ag from
147.0-148.3 ft (44.8-45.2 m), 1.4 ft (0.43 m) grading 0.84 oz/t (28.9 g/t) Au
and 32.20 oz/t (1105.0 g/t) Ag from 169.3-170.8 ft (51.6-52.1 m), and an
additional interval of 1.4 ft (0.43 m) grading 0.63 oz/t (21.6 g/t) Au and
1.80 oz/t (63.0 g/t) Ag from 285.0-286.5 ft (86.9-87.3 m).
Hole HDB-219 intersected 4.2 ft (1.28 m) grading 1.62 oz/t (55.4 g/t) Au and
1.30 oz/t (46.0 g/t) Ag from 135.9-140.2 ft (41.4-42.7 m). A second high-
grade interval was intersected: 14.5 ft (4.42 m) grading 0.53 oz/t (18.1 g/t)
Au and 0.24 oz/t (8.1 g/t) Ag from 187.3-202.0 ft (57.1-61.6 m), including an
interval of 2.0 ft (0.61 m) grading 1.54 oz/t (52.8 g/t) Au and 0.50 oz/t
(18.0 g/t) Ag from 191.0-193.0 ft (58.2-58.8 m).
Clementine Vein System
Hole HDB-204 intersected 1.1 ft (0.33 m) grading 0.78 oz/t (26.66 g/t) Au and
0.36 oz/t (12.25 g/t) Ag from 259.0-260.5 ft (78.9-79.4 m) and 1.51 ft (0.46
m) grading 1.06 oz/t (36.3 g/t) Au and 0.97 oz/t (32.2 g/t) Ag from 326.0-
328.0 ft (99.4-100.0 m).
Hole HDB-228 intersected 1.9 ft (0.58 m) grading 12.35 oz/t (424.0 g/t) Au
and 62.10 oz/t (2130.0 g/t) Ag from 191.6-193.5 ft (58.4-59.0 m), and 0.9 ft
(0.27 m) 15.65 oz/t (536.0 g/t) Au and 54.10 oz/t (1855.0 g/t) Ag from 332.8-
333.7 ft (101.4-101.7 m). Additional high-grade intervals intersected
include: 2.3 ft (0.70 m) grading 0.66 oz/t (22.8 g/t) Au and 4.20 oz/t (144.0
g/t) Ag from 333.7-336.0 ft (101.7-102.4 m), and 1.0 ft (0.30 m) grading
11.40 oz/t (391.0 g/t) Au and 7.20 oz/t (245.0 g/t) Ag from 528.9-529.5 ft
(161.2-161.4 m), and 0.9 ft (0.27 m) grading 0.66 oz/t (22.6 g/t) Au and 1.90
oz/t (65.0 g/t) Ag from 749.0-749.9 ft (228.3-228.6 m).
Hole HDB-231 intersected 1.8 ft (0.55 m) grading 1.25 oz/t (42.6 g/t) Au and
2.00 oz/t (68.0 g/t) Ag from 263.2-265.7 ft (80.2-81.0 m).
President and CEO, Ferdi Dippenaar, commented: "We are making good progress
with the US$14.4 million exploration program we announced in December 2007.
The focus of the in-fill drilling program has, at a cost of US$2.2 million,
been to upgrade our resources from the Inferred to Measured and Indicated
Categories. The remaining 10,000 ft to complete the underground in-fill
drilling program will be completed during the second half of 2008. The focus
will then shift to the planned US$4.5 million program to determine the strike
and depth extent of the mineralisation."
Johan Oelofse, PrEng, FSAIMM, Chief Operating Officer for the Company and a
qualified person, has reviewed this news release on behalf of Great Basin
Gold. For information on analytical procedures, see the Great Basin Gold
Ltd. News Release of June 23, 2008 available on the Company`s website.
/Signed/
Ferdi Dippenaar
President and CEO
For additional details on Great Basin and its gold properties, please visit
the Company`s website at www.grtbasin.com or contact Investor Services at:
Tsholo Serunye in South Africa 27 (0) 11 884 1610
Melanee Henderson in North America 1 800 667-2114
Barbara Cano at Breakstone Group in the USA (646) 452-2334
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, reserve
potential, exploration drilling results, development, 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, continuity of
mineralization, uncertainties related to the ability to obtain necessary
permits, licenses and title and delays due to third party opposition,
geopolitical uncertainty, changes in government policies regarding mining and
natural resource exploration and exploitation, 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 40-F filing
with the United States Securities and Exchange Commission and its home
jurisdiction filings that are available at www.sedar.com.
Cautionary Note Concerning Estimates of Inferred Resources
This press release uses the term "inferred resources". The Company advises
investors that while this term is recognized and required by Canadian
regulations, the U.S. Securities and Exchange Commission does not recognize
"inferred resources". "Inferred resources`"have a great amount of
uncertainty as to their existence, and great uncertainty as to their economic
and legal feasibility. It cannot be assumed that all or any part of a mineral
resource will ever be upgraded to a higher category. Under Canadian rules,
estimates of Inferred Mineral Resources may not form the basis of economic
studies, except in rare cases. Investors are cautioned not to assume that
any part or all of an inferred resource exists, or is economically or legally
mineable.
TABLE OF ASSAY RESULTS - JULY 2008
Vein System Drill Significant
Hole Intercepted
ID
Vein Sample
Intersection Interval (ft)
(ft)
From To From To
Clementine HDB- 241.0 245.8
202
241.0 244.0
244.0 245.8
358.0 358.5
Clementine HDB- 150.0 150.5
203
161.5 162.0
Clementine HDB- 259.0 260.5
204
326.0 328.0
Clementine HDB- No
205 Significant
Intercepts
Clementine HDB- 115.5 116.5
206A
198.0 199.4
Clementine HDB- 269.2 281.5
207
269.2 269.9
269.9 274.0
274.0 275.0
275.0 280.0
280.0 281.5
Clementine HDB- 175.0 180.0
208
251.0 251.4
478.0 478.8
631.0 636.0
768.5 769.7
854.0 855.9
Gwenivere HDB- 223.5 224.0
209
280.0 281.7
Gwenivere HDB- No
210 Significant
Intercepts
Gwenivere HDB- No
211 Significant
Intercepts
Gwenivere HDB- No
212 Significant
Intercepts
Geotechnical HDB- Geotechnical
213 Drill Hole
Gwenivere HDB- 438.0 448.3
214
438.0 440.5
440.5 443.5
443.5 444.5
444.5 446.2
446.2 447.0
447.0 448.3
Gwenivere HDB- No
215 Significant
Intercepts
Gwenivere HDB- No
216 Significant
Intercepts
Gwenivere HDB- 122.0 126.8
217
158.3 161.0
Gwenivere HDB- 122.6 127.3
218
122.6 123.4
123.4 126.0
126.0 127.3
Significant Intercepts
Drilled Est. Analytical Results
Thickness True
(ft) Width
(ft)
Au Au Ag (opt) Ag (g/t)
(opt) (g/t)
4.8 4.8 0.53 18.2 1.44 49.2
3.0 3.0 0.25 8.4 ND ND
1.8 1.8 1.00 34.5 3.83 131.3
0.5 0.5 1.07 36.6 5.43 186.0
0.5 0.5 0.48 16.4 ND ND
0.5 0.5 2.24 76.7 ND ND
1.5 1.1 0.78 26.7 0.36 12.3
2.0 1.5 1.06 36.3 0.97 33.2
1.0 0.6 0.26 8.9 0.50 18.0
1.4 0.8 0.10 3.5 0.20 6.0
12.3 8.7 0.22 7.5 0.50 16.4
0.7 0.5 0.44 15.3 0.80 26.0
4.1 2.9 0.13 4.5 0.70 23.0
1.0 0.7 0.21 7.1 0.20 7.0
5.0 3.5 0.22 7.7 0.40 13.0
1.5 1.1 0.33 11.5 0.30 11.0
5.0 4.9 0.25 8.7 1.10 37.0
0.4 0.4 0.25 8.4 0.70 25.0
0.8 0.8 1.09 37.1 3.40 116.0
5.0 4.9 0.18 6.1 ND ND
1.2 1.2 0.16 5.6 0.20 7.0
1.9 1.9 0.05 1.8 ND ND
0.5 0.4 0.10 3.3 0.30 10.0
1.7 1.5 0.12 4.1 4.20 145.0
10.3 8.9 0.50 17.2 1.00 34.5
2.5 2.2 0.11 3.9 ND ND
3.0 2.6 1.41 48.2 3.20 111.0
1.0 0.9 0.03 0.8 0.10 5.0
1.7 1.5 0.20 6.8 ND ND
0.8 0.7 0.08 2.7 ND ND
1.3 1.1 0.18 6.1 0.40 13.0
4.8 3.1 0.14 4.9 0.20 7.0
2.7 1.7 0.42 14.3 2.00 70.0
4.7 4.5 0.43 14.7 52.30 1789.0
0.8 0.8 0.16 5.4 15.20 521.0
2.6 2.5 0.58 19.9 71.00 2430.0
1.3 1.2 0.29 9.9 37.90 1300.0
Vein Drill Vein Sample
System Hole Intersection Interval
ID (ft) (ft)
From To From To
Gwenivere HDB- 139.3 142.6
218
147.0 148.3
169.3 170.8
285.0 286.5
Gwenivere HDB- 135.9 140.2
219
161.0 163.3
187.3 202.0
187.3 189.0
189.0 191.0
191.0 193.0
193.0 194.0
194.0 196.6
196.6 202.0
Gwenivere HDB- 697.3 698.5
220
Gwenivere HDB- 182.0 183.0
221
Gwenivere HDB- 232.6 233.7
222
241.8 243.1
Gwenivere HDB- 244.0 247.0
223
Gwenivere HDB- No Significant
224 Intercepts
Clementine HDB- 226.9 229.9
225
300.5 305.0
Clementine HDB- 195.2 196.3
226
Clementine HDB- 176.6 179.1
227
Clementine HDB- 163.0 163.8
228
191.6 193.5
332.8 336.0
332.8 333.7
333.7 336.0
528.9 529.5
749.0 749.9
Clementine HDB- 125.3 130.8
229
125.3 130.3
130.3 130.8
141.5 143.0
168.6 169.2
191.8 193.1
303.2 303.7
327.9 328.8
330.0 330.9
Clementine HDB- 177.3 179.1
230
208.0 210.1
352.6 354.2
352.6 353.5
353.5 354.2
Clementine HDB- 258.0 259.0
231
263.2 265.7
Vein System Drilled Est. True
Thickness (ft) Width (ft)
Gwenivere 3.3 3.1
1.3 1.2
1.5 1.4
1.5 1.4
Gwenivere 4.3 4.2
2.3 2.3
14.7 14.5
1.7 1.7
2.0 2.0
2.0 2.0
1.0 1.0
2.6 2.6
5.4 5.3
Gwenivere 1.2 1.0
Gwenivere 1.0 0.6
Gwenivere 1.1 0.5
1.3 0.6
Gwenivere 3.0 2.6
Gwenivere
Clementine 3.0 2.1
4.5 3.2
Clementine 1.1 1.0
Clementine 2.5 2.4
Clementine 0.8 0.8
1.9 1.9
3.2 3.2
0.9 0.9
2.3 2.3
1.0 1.0
0.9 0.9
Clementine 5.5 5.3
5.0 4.8
0.5 0.5
1.5 1.4
0.6 0.6
1.3 1.3
0.5 0.5
0.9 0.9
0.9 0.9
Clementine 1.8 1.6
2.1 1.8
1.6 1.4
0.9 0.8
0.7 0.6
Clementine 1.0 0.7
2.5 1.8
Vein System Analytical Results
Au (opt) Au Au (opt) Au (opt)
(opt)
Gwenivere 0.19 6.5 2.20 76.0
0.30 10.2 0.70 25.0
0.84 28.9 32.20 1105.0
0.63 21.6 1.80 63.0
Gwenivere 1.62 55.4 1.30 46.0
0.12 4.3 3.70 126.0
0.53 18.1 0.24 8.1
0.72 24.5 0.10 5.0
0.30 10.4 ND ND
1.54 52.8 0.50 18.0
0.41 14.2 ND ND
0.68 23.4 0.50 16.0
0.13 4.4 0.20 6.0
Gwenivere 0.25 8.7 0.50 17.0
Gwenivere 0.13 4.4 10.30 354.0
Gwenivere 0.14 4.7 ND ND
0.19 6.5 0.30 11.0
Gwenivere 0.14 4.9 0.90 32.0
Gwenivere
Clementine 0.30 10.3 4.90 168.0
0.19 6.4 0.50 16.0
Clementine 0.25 8.4 13.20 452.0
Clementine 1.01 34.5 31.00 1060.0
Clementine 0.21 7.2 2.10 72.0
12.35 424.0 62.10 2130.0
5.92 204.2 18.23 1679.8
15.65 536.0 54.10 1855.0
0.66 22.8 4.20 144.0
11.40 391.0 7.20 245.0
0.66 22.6 1.90 65.0
Clementine 0.38 13.1 0.56 19.3
0.40 13.7 ND ND
0.22 7.5 5.90 204.0
0.31 10.6 0.30 9.0
0.41 14.2 2.00 68.0
1.13 38.8 35.70 1225.0
0.62 21.4 1.70 59.0
3.72 127.5 11.30 389.0
0.47 16.0 1.90 66.0
Clementine 0.15 5.2 1.40 46.0
1.64 56.2 8.20 283.0
0.34 11.6 2.27 80.0
0.38 12.9 3.60 123.0
0.29 9.8 0.50 17.0
Clementine 0.35 12.2 0.40 14.0
1.25 42.6 2.00 68.0
More information is available on the Company`s website, www.grtbasin.com
Date: 05/08/2008 14:49:08 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
