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WGR
WGR
WGR - Wits Gold - Wits Gold announces encouraging drilling results from the De
Bron project, southern Free State
Witwatersrand Consolidated Gold Resources Limited
(`Wits Gold` or `the Company`)
(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 ANNOUNCES ENCOURAGING DRILLING RESULTS FROM THE DE BRON PROJECT,
SOUTHERN FREE STATE
Wits Gold (JSE: WGR; TSX: WGR; ADR: WIWTY.PK) wishes to report its recent
drilling results from the Company`s shallow De Bron project in the southern Free
State. This area is situated immediately south of Harmony`s Merriespruit Section
of Harmony Gold Mine. At De Bron, 14 boreholes previously intersected
Witwatersrand reefs at depths of between 500-1100 metres below surface.
In November 2007, using these data a NI43-101 compliant technical report was
compiled by Snowden Mining Industry Consultants in which the contained mineral
resources in the De Bron area were quantified. Snowden estimated an Indicated
Resource of 16.1Mt at 5.3g/t Au (2.7Moz) and 0.129kg/t U3O8 (4.6Mlbs)as well as
an Inferred Resource of 12.0Mt at 5.6g/t Au (2.2Moz) and 0.118kg/t U3O8
(3.1Mlbs).
Wits Gold subsequently initiated follow-up drilling in order to improve the
definition of this resource and to test the continuity of the contained
mineralisation. Accordingly, the following results have been obtained from the
first four boreholes in this programme.
Borehole Depth True Gold Gold U3O8 U3O8
(m) width (g/t) (cm.g/t) (kg/t) (cm.kg/t)
(cm)
Beatrix Reef
DWN24 Behind subcrop
DWN25 497.2 117.0 9.2 1075 0.020 2.37
WF1 607.6 90.2 4.5 402 0.152 13.68
WF2* 462.6 115.5 4.9 561 0.105 12.15
B Reef
DWN24 Behind subcrop
DWN25* 507.7 224.8 2.8 640 0.101 22.65
WF1 625.7 261.6 1.3 332 0.021 5.41
WF2 472.1 246.9 2.2 539 0.062 15.34
Leader Reef
DWN24 Behind subcrop
DWN25 532.3 124.4 18.2 2259 0.562 69.95
WF1 651.2 94.0 18.8 1772 0.731 68.75
WF2* 504.8 119.8 4.3 510 0.533 63.90
*Some assay results still awaited, therefore only the first
intersection is reported.
The management of Wits Gold is particularly encouraged by the results from the
Beatrix and Leader Reefs, as these two bodies are likely to host most of the in
situ resource at De Bron. Two drill rigs continue to operate in this area, where
the Company`s objective is to complete a revised resource estimate during the
first quarter of 2009.
For further information please contact:
Marc Watchorn
Chief Executive Officer
Tel: +27 11 832 1749
Hethen Hira
Investor Relations
Tel: +27 11 832 1749
Johannesburg
14 January 2009
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 14/01/2009 15:49:02 Produced by the JSE SENS Department.
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