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GBG
GBG
GBG - Great Basin Gold - Great Basin Gold Continues To Encounter Bonanza Gold
Grades At Hollister Property
GREAT BASIN GOLD LTD
(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 Gold")
GREAT BASIN GOLD CONTINUES TO ENCOUNTER BONANZA GOLD GRADES AT HOLLISTER
PROPERTY
April 20, 2009, Vancouver, BC - Great Basin Gold Ltd, ("Great Basin Gold" or the
"Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces further high-grade
exploration drilling results at its Hollister property in Nevada for the quarter
ending March 31, 2009. An exceptional result was achieved with underground
borehole HDB 274 which intersected 50.11 oz per short ton ("opt") over 0.7 ft
(1,718 g/t Au over 0.23 m) on the western strike extension of the Central
Clementine vein. This is 1 of 25 vein intersections during the quarter in excess
of 1 opt Au (34.28 g/t Au).
During the quarter, underground evaluation and exploration drilling for other
mineralized structures totaled 13,503 ft (4,092 m). Surface drilling totaled
1,449 ft (439 m). The programs continue to encounter high-grade intersections
on the Clementine and Gwenivere vein systems (see below), disseminated
mineralisation in the overlying Tertiary volcanics, as well as further
encouraging intersections from the Hatter Graben Veins to the east of the
Hollister development. Geological modeling and mineral resource estimation of
these mineral systems is currently underway.
The underground drilling is providing more information about the strike (3000
ft/ 980 m) and vertical (1300 ft/ 396 m) continuity of the vein systems. The
Hollister mineral system currently comprises 24 discrete east-west striking
subvertical veins, which constitute the Clementine and Gwenivere groups. The
system is still open along strike, at depth, and in areas up to and above the
Ordovician/Tertiary Unconformity. Twenty-six underground boreholes were
completed, of which fifteen (15) were for exploration, seven (7) targeted the
Gwenivere system and four (4) tested the Clementine system.
Recent results from underground exploration, underground delineation and surface
drilling are summarised below. A complete tabulation of the Hollister drilling
results is available on the Great Basin Gold website www.grtbasin.com.
Underground Programs
Underground exploration drilling results include:
Vein System Drill Downhole
Hole ID
Vein Intersection (ft)
From To
Exploration HDB-255 91.4 92.0
Exploration HDB-259 No Significant Intercepts
Exploration HDB-265 552.8 554.3
1770.4 1774.0
Exploration HDB-266 No Significant Intercepts
Exploration HDB-271 440.7 441.4
846.1 846.8
Exploration HDB-274 8.8 9.9
133.9 134.5
223.8 224.4
238.1 238.8
249.0 250.1
Significant Intersections
Drilled Est. Analytical Results
Thickne True
ss (ft) Width
(ft)
Au (opt) Au (g/t) Ag (opt) Ag (g/t)
0.6 0.6 1.490 51.09 0.6 21
1.5 1.5 0.290 9.94 0.7 24
3.6 3.6 0.560 19.20 0.2 7
0.7 0.7 0.338 11.59 1.6 55
0.7 0.7 0.361 12.38 1.8 62
1.1 1.1 0.139 4.77 0.7 24
0.6 0.6 0.308 10.56 0.3 10
0.6 0.6 0.348 11.93 0.6 21
0.7 0.7 50.110 1718.06 135.1 4632
1.1 1.1 4.120 141.26 14.8 507
Vein Drill Downhole
System Hole
ID
Vein Intersection
(ft)
From To
Blanket HSD-57 18.4 19.3
199.0 219.0
Blanket HSD-58 11.8 12.8
194.5 199.0
224.0 229.0
284.0 289.0
294.0 304.0
339.0 350.0
Blanket HSD-59 27.2 27.7
348.0 353.0
388.0 390.0
Blanket HSD-60 13.4 14.4
193.8 218.2
Blanket HSD-61 9.0 10.6
28.5 29.0
Significant Intersections
Drilled Est. Analytical Results
Thickne True
ss (ft) Width
(ft)
Au (opt) Au (g/t) Ag (opt) Ag (g/t)
0.9 0.7 4.070 139.54 5.1 175
20.0 16.4 0.114 3.91 <0.1 <5
1.0 0.7 1.085 37.20 1.9 65
4.5 3.2 0.109 3.74 0.2 7
5.0 3.5 0.101 3.46 0.2 7
5.0 3.5 0.333 11.42 0.4 14
10.0 7.0 0.193 6.62 0.4 14
11.0 7.8 0.134 4.59 0.3 10
0.5 0.3 0.642 22.01 2.8 96
5.0 2.5 0.017 0.58 13.8 473
2.0 1.0 0.053 1.82 24.5 840
1.0 0.8 0.557 19.10 2.0 69
24.4 18.7 0.113 3.87 <0.1 <5
1.6 0.8 0.330 11.31 1.2 41
0.5 0.3 0.430 14.74 2.9 99
There are a number of highlights from the underground exploration drilling,
including:
- HDB-265 was drilled at a shallow angle eastwards from the main lateral
development and towards the Hatter Graben prospect. The borehole
intersected a zone of tectonic brecciation and shearing that divides
Ordovician metasedimentary rocks and downthrown Tertiary volcanic
rocks at 1,504-1,534 ft (456-465 m). Follow up drilling is targeting
below the Tertiary/Ordovician unconformity for epithermal veining. Two
zones of mineralisation have been intersected at 553 and 1,772 ft,
grading 0.29 opt over 1.5 ft (9.9 g/t over 0.5 m) and 0.56 opt over
3.6 ft (19.2 g/t over 1.1 m), respectively. These intersections
require follow-up but are significant, indicating the existence of
epithermal veining between the current eastern extent of the
Clementine/Gweneviere vein system (as defined by drilling) and the
Hatter Graben target;
- HDB-274 intersected spectacularly high grade gold mineralisation (4.1
opt Au/141 g/t Au over 1.1 ft; 50.1 opt Au/ 1,718 g/t Au over 0.7 ft)
associated with the Central and East Clementine vein system, notably
towards the west of the exploration infrastructure. Underground
structural mapping in the area is indicating the development of a new
discrete high grade shoot containing the bonanza grades; and
- HSD 57-61 targeted "Blanket Zone" mineralisation hosted in the
overlying Tertiary volcanics and proximal to the Tertiary/Ordovician
unconformity, and encountered a number of broad intersections (7ft/2 m
to 18.7 ft/6 m) grading between 0.1 and 0.4 oz/t Au (3 and 14 g/t Au).
A number of high grade zones associated with epithermal vein clay-rich
zones in the Vanini Formation (Ordovician) host rocks were also
intersected in these boreholes. The Blanket Zone intersections are of
significance, as there is growing evidence for the existence of a
number of discrete broader zones of disseminated gold mineralisation
hosted in proximity to the overlying Tertiary volcanic/Ordovician
unconformity and penetrative subvertical structures probably
controlling vein mineralisation below in the Ordovician Vanini host
meta-sedimentary rocks. Previous open pit mining and heap leaching of
similar style mineralisation at Hollister was conducted by the
Touchstone - Galactic JV (1990-1992). This operation extracted 116,000
oz Au at 0.046 opt Au (1.57 g/t Au) from within a historical resource
of 2.8 million oz Au grading 0.035 opt Au (1.20 g/t Au). Great Basin
Gold intends to remodel the area of previous mining with a view to
developing a predictive structural and alteration model to detect
Blanket style mineralisation.
Underground delineation drilling has continued on the Clementine-Gwenivere vein
systems. Results are summarised below:
Vein Drill Downhole
System Hole
ID
Vein
Intersection
(ft)
From To
Clementine HDB- No
272 Significant
Intercepts
Clementine HDB- No
273 Significant
Intercepts
Clementine HDB- 149.8 150.9
279
172.6 173.1
212.0 212.6
374.2 375.0
Clementine HDB- 216.5 217.5
280
218.8 219.7
Gwenivere HSD-46 12.0 13.4
78.0 78.6
83.6 84.1
165.9 166.6
205.9 207.1
235.0 238.5
273.3 275.8
302.7 304.2
Gwenivere HSD-48 82.3 83.3
239.0 242.0
252.9 254.0
272.8 274.0
Gwenivere HSD-49 11.8 12.6
66.1 71.5
139.5 140.3
147.0 150.8
206.0 208.1
237.6 238.4
267.5 268.8
274.3 275.1
365.2 366.0
Gwenivere HSD-50 7.0 12.8
57.2 57.7
76.5 77.0
167.0 171.8
342.0 343.0
348.5 349.5
Gwenivere HDB- 113.0 116.0
276
122.0 127.0
251.0 253.0
Gwenivere HSD-47 15.2 17.0
85.0 85.6
400.0 410.0
475.0 480.0
Gwenivere HSD-51 14.8 15.6
72.4 73.1
135.4 136.2
150.3 150.9
194.0 207.2
Significant Intersections
Drilled Thickness Est. Analytical Results
(ft) True
Width
(ft)
Au (opt) Au (g/t) Ag (opt) Ag (g/t)
No Significant
Intercepts
No Significant
Intercepts
1.1 0.9 0.203 6.96 0.2 7
0.5 0.4 0.109 3.74 0.2 7
0.6 0.5 0.216 7.41 0.3 10
0.8 0.7 0.110 3.77 <0.1 <5
1.0 0.6 0.113 3.87 <0.1 <5
0.9 0.6 0.133 4.56 <0.1 <5
1.4 1.0 1.390 47.66 0.8 27
0.6 0.5 2.610 89.49 4.6 158
0.5 0.4 1.855 63.60 3.1 106
0.7 0.5 0.313 10.73 3.6 123
1.2 0.9 0.518 17.76 0.6 21
3.5 2.7 0.959 32.88 2.1 72
2.5 1.8 0.421 14.43 1.5 51
1.5 1.1 5.610 192.34 12.0 411
1.0 0.7 3.900 133.71 6.3 216
3.0 2.1 1.550 53.14 4.0 136
1.1 0.8 0.657 22.53 0.5 17
1.2 0.8 0.455 15.60 <0.1 <5
0.8 0.7 2.010 68.91 1.3 45
5.4 4.7 0.164 5.62 0.2 6
0.8 0.7 0.106 3.63 <5 <0.1
3.8 3.3 0.651 22.32 2.4 81
2.1 1.8 0.324 11.11 0.5 17
0.8 0.7 0.411 14.09 15.8 542
1.3 1.1 1.740 59.66 5.0 171
0.8 0.7 0.155 5.31 14.4 494
0.8 0.7 1.915 65.66 1.0 34
5.8 5.5 1.455 49.89 0.6 19
0.5 0.5 1.145 39.26 1.8 62
0.5 0.5 0.453 15.53 0.3 10
4.8 4.6 0.286 9.81 0.1 3
1.0 0.9 1.720 58.97 2.3 79
1.0 0.9 0.155 5.31 8.0 274
3.0 1.7 1.310 44.90 10.7 366
5.0 3.5 1.470 44.60 7.4 255
2.0 1.4 0.360 12.35 1.3 44
1.8 1.3 1.035 35.50 3.6 124
0.6 0.4 2.140 73.30 13.1 449
10.0 7.0 0.245 8.40 <0.1 <5
5.0 3.5 0.101 3.46 0.5 16
0.8 0.7 0.155 5.31 0.5 17
0.7 0.6 1.135 38.91 0.9 31
0.8 0.7 0.389 13.34 0.8 27
0.6 0.5 3.300 113.14 19.5 669
13.2 11.4 0.251 8.61 0.9 29
Mineralisation in the Gweniviere Veins continues to give intersections with
robust grades; seven boreholes averaged 0.563 opt Au over 1.9 ft (19.3 g/t Au
over 0.6 m).
Significant advances have been made during the quarter with revised geological
modeling and detailed underground mapping. These observations are providing more
insight and predictability into the controls of the Clementine-Gwenivere vein
systems, and certain aspects are being incorporated into the mineral resource
review which is nearing completion.
Surface Programs
The surface drilling program is focusing on the Hatter Graben target, located
about 5,000 ft (1667 m) east of the Clementine-Gwenivere vein cluster. The
geology of the area is highlighted by a number of North/Northwest-
South/Southeast and E-W structures, as well as Eocene to Tertiary aged
intermediate to felsic intrusive rocks. However a number of narrow and discrete
vein intersections support an East-West trending vein swarm not unlike the
Clementine-Gwenivere system. The Hatter Graben target area now has a strike
extent of approximately 3,000 ft (1,400 m) and a width of up to 1,320 ft (400
m), which is of similar extent to the Hollister vein system. During the quarter,
Hole HDB 285 was completed, and the drill rig has now been moved to complete
certain geotechnical investigations.
Summary of surface results received during Q1 2009 are shown below:
Vein Drill Hole ID Downhole
System
Vein Intersection (ft)
From To
Hatter H8-283 2054.6 2055.5
2131.8 2133.3
2134.8 2139.0
Hatter H8-284 2286.7 2288.2
2296.2 2300.0
2302.8 2304.3
2559.0 2562.3
Hatter H8-285 1791.3 1803.8
2109.5 2115.8
2184.4 2185.3
2317.3 2318.8
Significant Intersections
Drilled Est. Analytical Results
Thickness True
(ft) Width
(ft)
Au (opt) Au (g/t) Ag (opt) Ag (g/t)
0.9 0.6 0.964 33.05 29.0 994
1.5 1.1 1.776 60.89 8.2 281
4.2 2.9 0.352 12.07 9.4 322
1.5 1.1 0.032 1.10 0
3.8 2.7 0.025 0.86 0
1.5 1.1 0.066 2.26 0
3.3 2.3 0.023 0.79 0
12.5 8.8 0.467 16.01 13.1 451
6.3 4.4 Assays pending
0.9 0.6 Assays pending
1.5 1.1 Assays pending
The most significant intersections were gained from H8-285, which was completed
in February to a depth of 2,937 ft (895.2 m). H8-285 encountered the most
robust and wide mineralized intersection to date in the Hatter Graben Vein
system, a 12.5 ft (3.8 m) vein drill intercept. Noteworthy is that this wide
vein intercept is hosted in an intrusive felsic porphyry rock unit, normally an
unfavorable host rock in the graben area. The mineralized zones are marked by
banded quartz veins with naumannite (selenium sulphide), bladed quartz with
visible gold and naumannite, and brecciation zones with sulphidation and
silicification. A follow up drill program targeting this area has been
designed.
The Hollister Development Project still has significant exploration potential on
the surrounding claim areas. A total of sixteen (16) targets have been
identified for future exploration.
TARGET CLASSIFICATION No TARGET
Reserve delineation 1 Hollister Development
Block
Resource delineation 2 Gwenivere
East Clementine
Advanced follow-up 5 Hatter Graben
targets East Clementine Fault
South Velvet
Blanket zone
Big Gwen
Follow-up targets 4 Butte Fault
Heap Leach
Western Sinters
North Hatter
Identified targets 2 Bounding structures
Regional targets 2 Other Hollister
permits
TOTAL 16
All the project geospatial data from historic and current exploration is in the
process of being collated, reviewed and structural targets reassessed and
priority ranked. The development of a structural model for the area is seen as
an important component to predicting both Tertiary and Ordovician hosted
mineralisation.
Ferdi Dippenaar, President and CEO, commented: "Good progress continues to be
made with the planned exploration programs of the Hollister Development Block
and the Hatter Graben discovery area.
"Our underground exploration drilling continues to prove strike and depth
extensions to the Hollister system. The drilling eastwards towards the Hatter
system is also indicating new intermediary zones of mineralization between the
Hollister and Hatter systems. The Hatter system will be subject to follow-up
drilling, specifically designed to ascertain the lateral and depth continuity of
the vein system. The geological team is also making good progress unraveling
structural controls to the mineralisation in general, and future drilling will
continue to test the predictive model being developed.
"On the mine development side, we are continuing to test and optimize the
applicability of thermal fragmentation technology as a cost effective solution
to minimizing dilution during extraction of high grade narrow veins less than 3
ft in width."
Phil Bentley, Pr.Sci.Nat. (SACNAS) Vice President for Geology and Exploration
for the Company and a qualified person, has reviewed this news release on behalf
of Great Basin Gold.
Ferdi Dippenaar
President and CEO
For additional details on Great Basin Gold Ltd. and its gold properties, please
visit the Company`s website at www.grtbasin.com or contact Investor Services:
Tsholo Serunye in South Africa 27 (0)11 301 1800
Michael Curlook in North America 1 888 633 9332
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.
Date: 24/04/2009 10:45:01 Produced by the JSE SENS Department.
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