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GBG
GBG
GBG - Great Basin Gold Limited - Great Basin Gold provides Hollister exploration
results and operational update
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 Gold" or "the Company")
GREAT BASIN GOLD PROVIDES HOLLISTER EXPLORATION RESULTS AND OPERATIONAL UPDATE
October 27, 2009, Vancouver, BC - Great Basin Gold Ltd. ("Great Basin Gold" or
the "Company") (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces further high-grade
underground drilling results from its Hollister property in Nevada for the
quarter ending September 30, 2009 ("Q3"). Exceptional results have been achieved
from underground boreholes HSD-116, 118, 84, 85, 86 and 87, which have
intersected grades of 6 opt Au to 63 opt Au (300 g/t to 2,150 g/t Au) over
widths ranging from 0.5- 6.4 ft (0.2 to 3 m) on the central Gwenivere vein
system, and are part of the 40 vein intersections in excess of 1 opt Au (34.28
g/t Au) made during the quarter.
Mineralisation in the Gwenivere vein system continues to give intersections with
robust grades: 107 boreholes (excluding 5 holes > 10 opt Au) averaged 2.247 opt
Au over 2.1 ft (77.04 g/t Au over 0.6 m). Mineralisation in the Clementine vein
system also continues to give intersections with robust grades: 24 boreholes
averaged 0.935 opt Au over 1.8 ft (32.07 g/t Au over 0.5 m).
Q3 Highlights from Gwenivere Drilling
Drill Vein Drille Est. Analytical Results
Hole Intersection d True
ID (ft) Thickn Thickn
ess ess
(ft) (ft)
From To Au Au Ag Ag
(opt) (g/t) (opt) (g/t)
HSD-84 63.3 65.8 2.5 2.5 11.677 400.36 111.5 3822
HSD-84 66.9 67.4 0.5 0.5 10.080 345.59 36.3 1244
HSD-84 69.3 72.2 2.9 2.3 6.713 230.18 18.9 648
HSD-85 85.0 93.0 8.0 6.4 6.166 314.24 25.5 874
HSD-85 97.0 101.3 5.6 4.5 62.889 2156.13 154.5 5298
HSD-85 108.5 116.5 8.0 6.4 15.247 522.74 47.2 1620
HSD-86 64.0 69.5 5.5 4.4 25.950 889.73 234.8 8049
HSD-87 79.3 82.8 3.5 2.8 6.051 207.46 29.72 1018.8
HSD- 188.6 189.6 1.0 0.8 18.383 630.26 399.3 13690
116
HSD- 104.9 107.2 2.3 1.8 36.048 1235.91 380.1 13031
118
During the quarter, underground evaluation and exploration drilling for other
mineralized structures totaled 32,008 ft (9,699 m). Geotechnical surface
drilling totaled 693 ft (211 m). The programs continue to encounter high-grade
intersections on the Gwenivere and Clementine vein systems (see below) and
disseminated mineralisation in the overlying Tertiary volcanics, as well as
further encouraging intersections from the west lateral splays and/or extensions
of the east Clementine vein system.
The underground drilling is providing more information about the strike (3,000
ft/ 980 m) and vertical (1,300 ft/ 396 m) continuity of the vein systems. The
Hollister mineral system currently comprises 19 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. One hundred and six underground boreholes were
completed, of which 11 were for exploration, 28 covered extensions of the
Gwenivere and Clementine vein systems and 67 continued stope delineation targets
on both vein systems. The majority of these intersections on both the Gwenivere
and Clementine vein systems are inside the short to medium term trial mining
plan providing conformation of the expected grade.
Annual production from trial mining is anticipated to be 15% lower than planned
at 115,000 Au eqv. oz mainly because of a slower build-up of ore tons from the
higher grade stopes developed in the second and third quarters of 2009. It was
originally anticipated that the Company will commence trial mining on these
higher grade stopes in Q3 of 2009. The results from the in-fill drilling
presented in the tables below indicate that the expected higher grade stopes
will only be accessed during Q4 of 2009. The drilling results from these areas
are extremely positive and provide the Company with additional information to
optimize stope planning for trial mining activities and thereby ensuring an
increase in ore tons from these high grade stopes. During the third quarter of
2009, continued trial mining resulted in the extraction of 18,232 ore tons
containing an estimated 18,026 ounces gold equivalent (Au eqv.) at a grade of
0.99 opt Au eqv. (33.9 g/t Au eqv.), which was less than the planned grade of
1.2 opt Au eqv., mainly due to only accessing the planned higher grade stopes in
Q4 of 2009.
Cash production costs for the third quarter decreased by 14% from US$375 to
US$324 per Au eqv. oz extracted, excluding milling costs, which is 11% lower
than the projected cash production costs per Au eqv. oz for 2009. The year to
date cash production costs of approximately US$333 per Au eqv. oz (unaudited)
and US$375 per ton mined (unaudited) are 8% and 15% lower, respectively, than
the planned 2009 cash cost of US$363 per Au eqv. oz and US$440 per ton mined.
This achievement reflects the increasingly aggressive cost management of the
Hollister project and improvements in the mining dilution and methods being
used.
For the year to date, the Company has extracted 60,554 Au eqv. oz at a grade of
1.13 opt (38.7 g/t), excluding milling costs. At September 30, a total of
32,219 tons, containing an estimated 27,336 Au eqv. oz had been accumulated in a
surface stockpile.
The Company earlier reported that its Esmeralda Mill has been commissioned and
was processing low grade Hollister ore, and that the necessary permits had been
obtained to proceed with the installation of the Gekko float and gravity section
which had arrived on site. The installation of the Gekko system, which is being
undertaken in the fourth quarter, will allow the Company to match processing
with trial mining volumes at Hollister, thereby giving a clearer reflection of
operational results.
Due to the commissioning of the Esmeralda mill and the high toll milling costs
associated with treatment at Newmont`s Midas mill, the Company elected not to
treat any ore in the third quarter of 2009 and, as a result, did not record any
revenue during the period. The Company has subsequently also entered into an ore
processing agreement with Yukon-Nevada, to process the 30,000 additional ore
tons currently stockpiled at the Hollister property, at a cost of US$88 per ton.
Fixed recoveries of 88% for both gold and silver have been agreed to. The stock
pile contains an estimated 30,000 Au eqv. oz.
The Company is also in discussions for a possible restructuring of the Senior
Secured Notes that were issued in December 2008. Although these notes are not
due for payment until December 2010 at the earliest, the improved debt markets
are providing opportunities for restructuring these notes into a lower cost debt
facility with more favourable repayment terms. There can be no certainty at this
time that these discussions will lead to a restructuring of the notes.
Further drilling on the Gloria Vein System, a new discovery made during drilling
from the diamond drill station in the West Lateral drift (DDS West Lateral),
continues to confirm the presence of a significant zone of thick quartz vein
breccias, quartz-adularia veins, and quartz-adularia stockwork with an overall
orientation of approximately northwest-southeast. Although the assay results did
not reveal significant mineralization at the penetrated elevations, the presence
of sulfosalts within the veins, abundance of adularia, presence of a number of
thin veins with notable gold grades (>3 opt Au) in HDB-307 and HDB-321, and the
nature of the vein textures all suggest that emplacement of precious metals did
occur within this vein system.
Q3 Underground Exploration Drilling Results in the Gloria Vein (West Lateral)
Drill Vein Drilled Est. Analytical Results
Hole Intersectio Thickne True
ID n (ft) ss (ft) Width
(ft)
From To Au Au Ag Ag
(opt) (g/t) (opt) (g/t)
HDB- 64.0 67.8 3.8 2.7 0.152 5.21 2.3 79
292
HDB- 599.8 602.8 3.0 2.9 0.122 4.20 2.3 78
293
HDB- 584.8 587.0 2.2 2.2 3.156 108.20 19.6 673
307
HDB- No significant intersections
308
HDB- No significant intersections
309
HDB- 1271. 1325. 54.0 40.5 0.001 0.04 0.1 5
310 0 0
HDB- 547.6 584.1 36.5 36.5 0.009 0.31 0.2 6
319
HDB- 497.5 499.3 1.8 1.7 0.095 3.26 0.9 32
320
524.1 524.8 0.7 0.7 0.121 4.15 0.1 4
528.2 528.9 0.7 0.7 0.229 7.85 0.9 32
HDB- 541.0 541.5 0.5 0.5 3.752 128.64 16.5 566
321
HDB- 512.0 516.2 4.2 3.2 0.264 9.07 1.1 39
322
HDB- 472.3 473.1 0.8 0.7 0.102 3.50 2.9 101
323
508.6 510.5 1.9 1.7 0.250 8.57 1.6 54
538.9 539.4 0.5 0.5 0.292 10.01 0.7 24
HDB- 235.9 237.6 1.7 1.7 1.556 53.35 4.29 147
324
HDB- 136.3 137.0 0.6 0.4 0.140 4.79 0.16 5.4
335
Notably, drilling from shallower inclined drill holes (HDB-293 and HDB-307)
delineated significant quartz veining and gold mineralization between 5,190 and
5,400 ft (1,581.9-1,645.9 m) in elevation. These new discoveries appear to
correlate with a splay from the Clementine vein system, and are not related
directly to the deeper (approx 5,000 ft in elevation) quartz vein and structural
zone from HDB-309. Two separate vein systems and/or mineralized structures are
indicated. Future drilling from DDS West Lateral will test for the extent,
continuation and economic characteristics of both structures as well as the
possibility of other unrecognized veins.
Drilling from diamond drill station 5278 in the muck bay on the Blanket Zone has
indicated grade continuity in mineralization and a body of disseminated gold
hosted in Tertiary volcanic rocks above the epithermal, banded veins.
Intersections range in thickness from 19.4 to 135 ft (5.9 to 41.1 m) and grades
between 0.130 to 0.500 opt (4.4 to 17.2 g/t) Au. This drilling is being
integrated with the broader mine scale target that has emerged from processing
historic borehole intersections of this style of mineralization in order to
fully assess the zone.
Q3 Underground Exploration Drilling Results in the Blanket Zone
Drill Vein Drilled Est. Analytical Results
Hole Intersection Thickness True
ID (ft) (ft) Width
(ft)
From To Au Au Ag Ag
(opt) (g/t) (opt) (g/t)
HDB- 243.7 244.4 0.7 0.6 0.299 10.25 0.6 20
325
289.1 290.5 1.4 1.2 1.837 62.98 3.3 113
296.8 297.3 0.5 0.4 0.891 30.55 6.3 219
328.6 348.0 19.4 17.5 0.130 4.45 0.0 1
HDB- 312.0 367.0 55.0 49.5 0.500 17.16 0.3 9
326
HDB- 292.1 293.2 1.1 1.0 1.198 41.07 2.3 80
327
358.0 378.0 20.0 18.0 0.141 4.85 1.1 0
HDB- 258.0 393.0 135.0 121.5 0.168 5.76 0.1 2
328
No surface exploration drilling was undertaken during the quarter as the Company
is awaiting approval of applications for permitting of drill pads. A diamond
core geotechnical borehole was successfully completed, holing into the west
lateral development and providing cover information for the planned West Alimak
ventilation raise, which has been approved by the Bureau of Land Management.
Ferdi Dippenaar, President and CEO, commented: "Our Hollister Project has now
had the benefit of approximately one year of trial mining. We continue to make
good progress toward ascertaining the most efficient mining method and the
development of underground infrastructure. Cash production costs are also
decreasing in-line with plan and we expect to make further improvements as our
understanding of the orebody increases. Although the build-up in extracted
ounces in 2009 has been slower than anticipated, the in-fill drilling shows the
high grade material available in the areas that will be accessed over the next
12 months. The construction of the second Alimak raise will improve the
ventilation and provide safe access to additional areas for trial mining and
continued exploration at the newly discovered Gloria vein systems."
Phil Bentley, Pr.Sci.Nat. (SACNAS) Vice President for Geology and Exploration
for the Company and a qualified person, and Johan Oelofse, PrEng, FSAIMM, Chief
Operating Officer for the Company and a qualified person, have reviewed this
news release on behalf of Great Basin Gold.
Ferdi Dippenaar
President and CEO
Results for the third quarter from underground exploration and stope delineation
drilling are summarised below. A complete tabulation of the Hollister drilling
results is available on the Great Basin Gold website www.grtbasin.com.
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.
Cautionary Note regarding Non-GAAP Measurements
Cash cost per ounce produced is a not a generally accepted accounting principles
("GAAP") based figure but rather is intended to serve as a performance measure
providing some indication of the mining and processing efficiency and
effectiveness of test mining at the Hollister project. It is determined by
dividing the relevant mining and processing costs excluding royalties by the
ounces produced in the period. There may be some variation in the method of
computation of "cash cost per ounce produced" as determined by the Company
compared with other mining companies. In this context, "ounces produced" in-
process and dore inventory along with ounces of gold sold in the period. Cash
costs per ounce produced may vary from one period to another due to operating
efficiencies, waste to ore ratios, grade of ore processed and gold recovery
rates in the period. We provide this measure to our investors to allow them to
also monitor operational efficiencies of test mining at Hollister. As a Non-GAAP
Financial Measures cash cost per ounce should not be considered in isolation or
as a substitute for measures of performance prepared in accordance with GAAP.
There are material limitations associated with the use of such Non-GAAP
measures.
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, 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 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.
Q3 Gwenivere Stope Delineation Drilling Results
Vein Sample Drille Est. Analytical Results
Dril Intersectio Interval d True
l n (ft) (ft) Thickn Thickn
Hole ess ess
ID (ft) (ft)
From To From To Au Au Ag Ag
(opt (g/t (opt) (g/t)
) )
HSD- 20.3 23.1 1.9 1.6 0.20 6.93 0.5 16
75 2
24.1 24.7 0.6 0.5 0.19 6.58 0.4 13
2
HSD- 32.8 33.3 0.5 0.5 0.57 19.6 0.7 23
80 4 8
58.2 64.4 6.2 5.8 0.43 14.7 0.2 6
0 4
93.3 94.6 1.3 1.2 0.45 15.5 0.5 18
4 7
107. 112. 5.0 4.7 0.21 7.27 0.1 4
0 0 2
HSD- 23.4 28.5 5.1 3.9 0.68 23.3 0.9 30
81 0 1
30.9 33.4 2.5 1.9 0.42 14.4 0.8 26
2 7
33.4 37.0 3.6 2.8 0.35 12.1 0.3 10
4 4
HSD- 80.0 80.9 0.9 0.7 0.42 14.6 2.3 80
82 7 4
82.3 83.2 0.9 0.7 0.26 9.22 1.5 52
9
HSD- 46.3 48.3 2.0 1.9 0.44 15.0 1.5 51
83 0 9
48.3 56.8 8.5 8.0 1.22 41.8 4.0 136
0 0
58.8 59.7 48.3 49.0 0.7 0.7 11.9 410. 35.6 1219
74 53
49.0 52.0 3.0 2.8 0.42 14.5 2.0 67
4 4
52.0 56.8 4.8 4.5 0.14 5.07 0.6 22
8
0.9 0.8 2.16 74.3 11.0 376
8 3
HSD- 63.3 65.8 2.5 1.9 11.6 400. 111.5 3822
84 77 36
63.3 64.3 1.0 0.8 26.4 908. 263.9 9049
84 00
64.3 65.2 0.9 0.7 0.64 21.9 5.8 197
0 4
65.2 65.8 0.6 0.5 3.55 121. 16.0 548
6 92
66.9 67.4 0.5 0.4 10.0 345. 36.3 1244
80 59
69.3 72.2 2.9 2.2 6.71 230. 18.9 648
3 18
69.3 70.4 1.1 0.8 16.7 574. 45.7 1565
54 41
70.4 71.6 1.2 0.9 0.46 15.8 1.7 58
2 4
71.6 72.2 0.6 0.5 0.81 27.7 4.2 145
0 7
80.0 80.6 0.6 0.5 0.82 28.1 10.4 356
0 1
HSD- 85.0 93.0 8.0 4.6 6.16 314. 25.5 874
85 6 24
85.0 86.4 1.6 0.9 6.35 217. 25.1 860
2 78
86.4 93.0 6.6 3.8 9.84 337. 25.6 878
8 64
97.0 101. 5.6 3.2 62.8 2156 154.5 5298
3 89 .13
97.0 99.3 2.3 1.3 137. 4707 317.8 10895
294 .13
99.3 101. 2.0 1.1 0.24 8.37 2.6 90
3 4
101. 102. 1.3 0.7 27.6 947. 99.4 3409
3 6 24 09
108. 116. 8.0 4.6 15.2 522. 47.2 1620
5 5 47 74
108. 112. 4.0 2.3 6.12 209. 26.9 923
5 5 0 82
112. 116. 4.0 2.3 24.3 835. 67.6 2316
5 5 74 66
HSD- 64.0 69.5 5.5 5.2 25.9 889. 234.8 8049
86 50 73
64.0 66.1 2.1 2.0 5.49 188. 23.0 790
3 33
66.1 67.6 1.5 1.4 84.9 2911 810.1 27773
13 .24
67.6 69.5 1.9 1.8 2.01 69.0 14.6 500
4 5
Q3 Gwenivere Stope Delineation Drilling Results (continued)
Vein Sample Drille Est. Analytical Results
Dril Intersectio Interval d True
l n (ft) (ft) Thickn Thickn
Hole ess ess
ID (ft) (ft)
From To From To Au Au Ag Ag
(opt (g/t (opt) (g/t)
) )
HSD- 73.6 77.0 3.4 3.2 0.58 20.0 1.7 59
86 4 2
HSD- 65.0 68.5 3.5 2.7 0.22 7.82 0.6 19
87 8
79.3 82.8 3.5 2.7 6.05 207. 29.7 1019
1 46
79.3 80.3 1.0 0.8 0.14 5.04 0.7 23
7
80.3 81.0 0.7 0.5 17.4 597. 89.1 3055
22 33
81.0 81.5 0.5 0.4 9.29 318. 31.6 1083
9 82
81.5 82.1 0.6 0.5 1.47 50.6 1.1 39
7 4
82.1 82.8 0.7 0.5 4.71 161. 35.0 1199
5 65
101. 102. 1.0 0.8 0.70 24.0 5.4 184
0 0 2 9
HSD- 54.0 56.5 2.5 1.6 0.53 18.2 2.6 88
89 1 1
54.0 54.6 0.6 0.4 0.24 8.37 3.3 112
4
54.6 55.9 1.3 0.8 0.16 5.49 2.4 81
0
55.9 56.5 0.6 0.4 1.62 55.6 2.3 77
2 1
64.1 64.7 0.6 0.4 0.71 24.5 1.1 37
5 1
75.3 76.1 0.8 0.5 0.20 6.93 11.0 376
2
77.7 78.3 0.6 0.4 0.49 17.0 0.4 12
8 7
HSD- 49.0 54.5 5.6 4.8 1.01 34.7 1.0 35
90 4 7
49.0 51.2 2.2 1.9 0.68 23.5 0.5 17
7 5
51.2 51.6 0.4 0.3 1.25 42.9 2.2 76
4 9
51.6 52.1 0.6 0.5 1.33 45.8 2.1 71
6 1
52.1 52.4 0.3 0.3 0.30 10.5 0.4 12
7 3
52.4 54.5 2.1 1.8 1.32 45.2 1.1 38
0 6
64.0 64.8 0.8 0.7 0.17 5.97 0.1 2
4
HSD- 36.5 37.4 0.9 0.6 0.27 9.53 0.16 5
91 8
75.0 77.5 2.5 1.6 0.82 28.3 0.51 18
6 2
HSD- 16.0 16.6 0.6 0.5 0.14 4.93 0.19 6
92 4
59.5 60.5 1.0 0.8 0.11 4.06 0.24 8
9
61.5 62.2 0.7 0.6 0.11 3.95 2.22 76
5
HSD- 36.7 42.6 5.9 4.8 3.67 125. 6.54 224
92A 2 89
36.7 37.8 1.1 0.9 4.82 165. 9.21 316
0 25
37.8 38.9 1.1 0.9 2.05 70.4 1.81 62
6 9
38.9 40.6 1.7 1.4 8.08 277. 15.11 518
0 02
40.6 42.6 2.0 1.6 0.18 6.24 0.40 14
2
53.9 54.5 0.6 0.5 0.17 5.90 2.04 70
2
64.5 65.5 1.0 0.8 1.44 49.5 7.35 252
4 1
HSD- 19.9 20.6 0.7 0.6 0.19 6.79 0.15 5
93 8
135. 135. 0.5 0.4 0.56 19.2 0.52 18
2 7 2 7
HSD- 39.4 42.5 3.1 2.7 1.68 57.8 4.43 152
93A 6 1
58.1 58.7 0.6 0.5 0.38 13.2 0.33 11
6 3
HSD- 65.4 66.8 1.8 1.5 3.85 132. 21.9 751
94 8 27
91.1 91.8 0.7 0.6 0.28 9.39 1.1 37
4
119. 120. 0.7 0.6 1.65 56.6 3.9 137
4 1 2 4
Q3 Gwenivere Stope Delineation Drilling Results (continued)
Vein Sample Drille Est. Analytical Results
Dril Intersectio Interval d True
l n (ft) (ft) Thickn Thickn
Hole ess ess
ID (ft) (ft)
From To From To Au Au Ag Ag
(opt (g/t (opt) (g/t)
) )
HSD- 191. 192. 0.6 0.5 1.04 35.6 4.4 152
94 7 3 0 6
199. 200. 0.6 0.5 0.43 14.9 1.5 50
9 5 6 5
HSD- 42.8 43.8 1.0 0.6 0.32 11.1 27.99 960
95 6 8
89.1 92.0 2.7 1.5 0.60 20.7 8.94 307
4 1
89.1 91.1 1.8 1.0 0.32 11.0 10.73 368
2 4
91.1 92.0 0.9 0.5 1.16 40.0 5.37 184
8 5
130. 132. 2.3 1.3 0.16 5.76 1.05 36
4 7 8
HSD- 47.6 48.0 0.4 0.3 0.69 23.6 1.9 65
96 0 6
67.2 73.0 5.8 4.4 0.61 20.9 6.6 228
1 5
67.2 69.8 2.6 2.0 0.93 31.8 13.8 474
0 9
69.8 71.8 2.0 1.5 0.42 14.6 0.7 26
6 1
71.8 73.0 1.2 0.9 0.22 7.82 0.9 32
8
81.1 88.0 6.9 5.3 0.57 19.6 0.7 23
2 1
HSD- 65.5 66.7 1.2 1.0 6.10 209. 57.8 1981
97 4 28
116. 116. 0.6 0.5 0.22 7.58 1.0 35
3 9 1
188. 188. 0.8 0.7 0.36 12.6 3.0 102
0 8 9 5
HSD- 70.0 71.0 1.0 0.9 1.53 52.6 2.5 87
98 5 3
81.4 84.0 2.6 2.4 1.30 44.7 1.3 43
4 1
89.7 90.1 0.4 0.4 0.36 12.6 0.9 31
9 5
117. 122. 5.0 4.5 0.20 7.10 0.2 6
0 0 7
HSD- 86.0 93.0 7.0 5.7 1.74 59.9 2.31 79
99 9 5
86.0 90.0 4.0 3.3 2.66 91.2 3.00 103
0 0
90.0 92.0 2.0 1.6 0.21 7.34 0.48 17
4
92.0 93.0 1.0 0.8 1.17 40.1 3.21 110
2 8
148. 150. 1.2 1.0 0.43 14.7 0.92 32
8 0 0 4
259. 259. 0.6 0.5 0.01 0.51 176.7 6059
0 6 5 2
HSD- 104. 104. 0.6 0.6 0.28 9.67 1.2 40
100 3 9 2
HSD- 82.0 82.5 0.5 0.5 0.56 19.3 1.31 45
101 4 4
HSD- 99.0 102. 2.0 1.5 0.31 10.9 1.17 40
102 0 9 3
99.0 99.6 0.6 0.4 0.11 3.89 2.74 94
4
99.6 101. 0.9 0.7 0.16 5.79 0.22 8
5 9
101. 102. 0.5 0.4 0.83 28.6 0.99 34
5 0 5 3
104. 105. 0.9 0.7 2.14 73.4 13.22 453
7 6 2 4
HSD- 25.8 28.3 2.5 2.2 0.87 30.0 2.22 76
103 7 7
50.6 51.5 0.9 0.8 0.32 11.1 2.92 100
5 4
HSD- 3.8 4.3 0.5 0.4 0.14 4.85 3.76 129
104 2
18.0 18.9 0.9 0.8 0.51 17.6 0.38 13
6 9
22.0 23.3 1.3 1.1 0.27 9.57 2.19 75
9
71.0 71.9 0.9 0.8 0.54 18.6 0.48 17
3 2
85.0 92 7.0 6.1 0.26 8.93 0.16 5
0
85.0 90.0 5.0 4.4 0.17 5.83 0.15 5
0
Q3 Gwenivere Stope Delineation Drilling Results (continued)
Vein Sample Drille Est. Analytical Results
Dril Intersectio Interval d True
l n (ft) (ft) Thickn Thickn
Hole ess ess
ID (ft) (ft)
From To From To Au Au Ag Ag
(opt (g/t (opt) (g/t)
) )
HSD- 90.0 92.0 2.0 1.7 0.48 16.7 0.18 6
104 7 0
HSD- 6.0 8.7 2.7 1.7 0.76 26.2 1.10 38
105 6 6
24.1 27.2 3.1 2.0 0.57 19.6 0.69 24
4 9
24.1 24.7 0.6 0.4 0.19 6.72 0.15 5
6
24.7 27.2 2.5 1.6 0.66 22.8 0.82 28
5 0
HSD- 43.0 46.4 3.4 2.2 0.22 7.86 0.19 7
105 9
43.0 45.2 2.2 1.4 0.22 7.68 0.18 6
4
45.2 46.4 1.2 0.8 0.23 8.19 0.21 7
9
HSD- 36.0 46.8 10.8 9.4 0.25 8.88 1.35 46
106 9
36.0 41.0 5.0 4.4 0.12 4.38 0.53 18
8
41.0 43.0 2.0 1.7 0.34 11.7 0.76 26
2 3
43.0 46.8 3.8 3.3 0.38 13.3 2.74 94
8 0
67.5 68.1 0.6 0.5 0.23 7.95 0.64 22
2
85.4 86 0.6 0.5 0.35 12.2 1.06 36
7 4
HSD- 15.7 18.6 2.9 2.5 0.19 6.65 9.06 311
107 4
21.5 33.8 13.2 11.5 0.60 20.7 2.70 93
4 1
21.5 24.2 2.7 2.3 0.28 9.91 7.78 267
9
24.2 27.4 3.2 2.8 0.42 14.5 0.27 9
3 0
27.4 29.1 1.7 1.5 0.57 19.8 0.23 8
9 5
29.1 31.0 2.8 2.4 1.09 37.6 3.00 103
7 1
31.0 33.8 2.8 2.4 0.63 21.8 1.78 61
7 4
HSD- 43.0 43.5 0.5 0.4 0.51 17.6 0.60 21
107 6 9
48.0 51.5 3.5 3.0 0.22 7.71 0.19 6
5
HSD- 33.5 34.4 0.9 0.8 0.31 10.6 0.83 29
108 1 6
106. 107. 0.6 0.5 0.15 5.25 0.24 8
6 2 3
HSD- 28.0 29.0 1.0 1.0 0.60 20.7 0.99 34
109 6 8
80.2 80.8 0.6 0.6 0.92 31.6 2.74 94
2 1
81.6 82.6 1.0 1.0 0.17 5.86 1.58 54
1
HSD- 105. 107. 1.7 1.3 0.33 11.5 2.98 102
110 5 2 6 2
HSD- 53.0 53.6 0.6 0.5 2.54 87.1 6.35 218
111 2 5
57.3 58.2 0.9 0.8 0.18 6.24 0.97 33
2
69.0 70.3 1.3 1.1 0.23 7.90 1.76 60
0
69.0 69.6 0.6 0.5 0.28 9.84 1.43 49
7
69.6 70.3 0.7 0.6 0.18 6.24 2.04 70
2
113. 114. 0.9 0.8 0.99 34.1 3.35 115
9 8 7 8
HSD- 63.0 67.5 4.5 4.4 0.15 5.34 1.61 55
114 6
63.0 65.4 2.4 2.3 0.14 4.85 1.49 51
2
65.4 67.5 2.1 2.0 0.17 5.90 1.75 60
2
80.7 85.4 4.7 4.5 1.16 55.4 0.90 31
7 3
80.7 82.6 1.9 1.8 2.07 71.2 1.11 38
8 4
82.6 84.4 1.8 1.7 1.94 66.5 1.03 35
0 1
84.4 85.4 1.0 1.0 0.15 5.42 0.27 9
8
Q3 Gwenivere Stope Delineation Drilling Results (continued)
Drill Vein Sample Drille Est. Analytical Results
Hole Intersectio Interval d True
ID n (ft) (ft) Thickn Thickn
ess ess
(ft) (ft)
From To From To Au Au Ag Ag
(opt (g/t (opt) (g/t)
) )
HSD- 102. 102. 0.6 0.5 0.14 4.83 0.58 20
116 3 9 1
188. 189. 1.0 0.8 18.3 630. 399.3 13690
6 6 83 26 0
HSD- 62.5 64.6 2.1 1.7 0.16 5.66 0.11 4
117 5
77.0 77.8 0.8 0.6 0.31 10.9 0.13 4
8 0
104. 105. 1.6 1.3 0.42 14.5 0.45 16
0 6 3 0
104. 104. 0.9 0.7 0.17 5.86 0.10 3
0 9 1
104. 105. 0.7 0.6 0.74 25.6 0.91 31
9 6 7 1
HSD- 108. 109. 0.5 0.4 0.62 21.5 4.23 145
117A 6 1 9 7
HSD- 119. 120. 0.6 0.5 0.17 6.07 0.41 14
117B 8 4 7
175. 180. 4.6 3.7 0.79 27.0 3.30 113
4 0 0 9
175. 177. 2.3 1.8 1.05 36.1 3.82 131
4 7 3 0
177. 180. 2.3 1.8 0.52 18.0 2.77 95
7 0 7 7
HSD- 104. 107. 2.3 1.8 36.0 1235 380.1 13031
118 9 2 48 .91 0
204. 207. 3.1 2.4 0.13 4.69 0.07 3
0 1 7
HSD- 58.8 61.7 2.9 1.9 0.55 19.1 0.06 2
141 9 7
87.9 88.8 0.9 0.6 0.18 6.34 0.80 27
5
91.2 91.9 0.7 0.4 0.27 9.26 0.19 6
0
Q3 Clementine Stope Drilling Results
Drill Vein Sample Drilled Est. True
Hole Intersection Interval Thickness Thickness Analytical Results
ID (ft) (ft) (ft) (ft)
From To From To Au Au Ag Ag
(opt) (g/t) (opt) (g/t)
HSD- No significant
112 intercepts
HSD- 81.0 87.0 6.0 5.6 0.307 10.51 0.81 28
113
81.0 82.0 1.0 0.9 0.336 11.52 1.55 53
82.0 84.2 2.2 2.1 0.261 8.95 0.74 25
84.2 87.0 2.8 2.6 0.332 11.38 0.60 20
HSD- 94.6 95.3 0.7 0.7 0.129 4.44 0.17 6
113
HSD- No significant
119 intercepts
HSD- 77.0 79.6 2.6 2.1 1.650 56.57 5.34 183
120
HSD- 62.4 63.3 0.9 0.8 0.050 1.70 12.18 418
121
HSD- 24.8 28.0 3.2 2.3 0.160 5.49 0.43 15
122
120.6 122.0 1.4 1.0 0.089 3.05 21.59 740
HSD- 17.0 17.9 0.9 0.8 0.239 8.19 0.18 6
123
81.1 82.3 1.2 1.0 6.786 232.66 14.91 511
HSD- 69.8 72.7 2.9 2.7 1.898 65.07 7.38 253
124
HSD- No significant
126 intercepts
HSD- 17.1 17.7 0.6 0.6 0.144 4.95 0.92 32
127
63.0 63.6 0.6 0.6 0.235 8.06 1.81 62
72.8 74.7 1.9 1.8 2.026 69.48 8.08 277
72.8 73.7 0.9 0.8 3.807 130.52 12.79 438
73.7 74.7 1.0 0.9 0.424 14.54 3.85 132
HSD- 57.0 62.0 5.0 3.5 0.827 28.35 0.08 3
129
65.0 65.9 0.9 0.6 0.296 10.15 2.16 74
67.1 68.2 1.1 0.8 0.536 18.38 2.48 85
68.2 76.8 8.6 6.0 1.322 45.34 0.50 18
68.2 72.0 3.8 2.7 0.588 20.16 0.83 29
72.0 76.8 4.8 3.4 1.904 65.28 0.30 10
HSD- 57.8 59.6 1.8 1.5 1.080 37.03 6.05 208
130
63.0 63.5 0.5 0.4 1.854 63.56 17.09 586
68.0 68.6 0.6 0.5 0.776 26.61 7.50 257
HSD- 48.3 49.0 0.7 0.7 0.215 7.37 4.38 150
131
HSD- No significant
132 intercepts
HSD- 29.0 29.7 0.7 0.7 0.365 12.51 0.80 27
133
HSD- 29.0 30.7 1.7 1.5 0.130 4.45 0.16 6
134
49.4 50.3 0.9 0.8 1.626 55.75 1.17 40
HSD- 82.6 83.7 1.1 1.0 0.437 14.98 2.42 83
135
HSD- 93.0 98.8 5.8 4.8 0.250 8.59 0.78 27
136
93.0 95.4 2.4 2.0 0.404 13.85 1.66 57
95.4 98.8 3.4 2.8 0.142 4.88 0.16 6
HSD- No significant
137 intercepts
HSD- No significant
139 intercepts
Date: 28/10/2009 07:19:01 Produced by the JSE SENS Department.
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