| Thu 31 May 2012, 7:46 | | GBG - Great Basin Gold Limited - Hollister deis notice of availability published |
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GBG
GBG
GBG - Great Basin Gold Limited - Hollister deis notice of availability published
in federal register
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")
HOLLISTER DEIS NOTICE OF AVAILABILITY PUBLISHED IN FEDERAL REGISTER
May 30, 2012, Vancouver, BC - Great Basin Gold Ltd. ("Great Basin Gold" or the
"Company") (TSX: GBG; NYSE MKT: GBG; JSE: GBG) announces that the publication of
the Notice of Availability for the Hollister Underground Mine Project Draft
Environmental Impact Statement (DEIS) in the Federal Register is expected on
June 1, 2012. The Hollister Project is operated by Rodeo Creek Gold Inc., a
wholly owned subsidiary of Great Basin Gold.
This marks a major milestone in the National Environmental Policy Act (NEPA)
process for the Hollister Project. The NEPA process analyzes the Proposed Action
in order to determine if there will be significant environmental effects and to
consider the environmental and related social and economic effects of the
Proposed Action.
The key activities outlined in the Hollister DEIS Proposed Action include the
following:
- Continued and expanded surface and underground exploration activities;
- Transition from underground exploration and bulk sampling activities to full-
scale production;
- The flexibility to install either another ramp, or a shaft or raise, in
order to access different parts of the orebody; and
- Construction of an 11.6-mile power line to the mine site.
The standard comment period for DEIS documents is at least 45 days. During this
time comments can be provided to the Bureau of Land Management (BLM) with regard
to any aspect of the DEIS. After this period, the comments are analyzed and
responses are generated. If there are substantive comments that require
changes, additional analyses, corrections, etc., these will be addressed in the
Final EIS (FEIS).
President and CEO Ferdi Dippenaar commented: "We are pleased that the NEPA
process which we have been working on with the BLM since late 2009 has
culminated in the publication of the DEIS. This is a significant milestone in
the delivery of the Hollister project as a fully permitted operation. If all
goes according to the planned administrative guidelines we anticipate that the
FEIS could be ready during the second half of 2012."
For additional details on Great Basin 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) 4522334
About Great Basin Gold
Great Basin Gold (GBG: TSX; GBG: NYSE Amex; GBG: JSE) is a mining company
engaged in the exploration and development of gold properties. The Company is
currently focused on its two producing mines in the world`s two richest gold
regions: the Hollister gold mine on the Carlin Trend in Nevada, USA and the
Burnstone gold mine, in the Witwatersrand goldfield of South Africa.
No regulatory authority has approved or disapproved the information contained in
this news release.
Cautionary and Forward Looking Statement Information
This document contains "forward-looking statements" that were based on Great
Basin`s expectations, estimates and projections as of the dates as of which
those statements were made. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as "outlook",
"anticipate", "project", "target", "believe", "estimate", "expect", "intend",
"should" and similar expressions. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may cause the
Company`s actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such forward-looking
statements. These include but are not limited to:
- uncertainties and costs related to the Company`s exploration and development
activities, such as those associated with determining whether mineral resources
or reserves exist on a property;
- uncertainties related to feasibility studies that provide estimates of
expected or anticipated costs, expenditures and economic returns from a mining
project; uncertainties related to expected production rates, timing of
production and the cash and total costs of production and milling;
- uncertainties related to the ability to obtain necessary licenses, permits,
electricity, surface rights and title for development projects;
- operating and technical difficulties in connection with mining development
activities;
- uncertainties related to the accuracy of our mineral reserve and mineral
resource estimates and our estimates of future production and future cash and
total costs of production, and the geotechnical or hydrogeological nature of ore
deposits, and diminishing quantities or grades of mineral reserves;
- uncertainties related to unexpected judicial or regulatory proceedings;
- changes in, and the effects of, the laws, regulations and government policies
affecting our mining operations, particularly laws, regulations and policies
relating to
- mine expansions, environmental protection and associated compliance costs
arising from exploration, mine development, mine operations and mine closures;
- expected effective future tax rates in jurisdictions in which our operations
are located;
- the protection of the health and safety of mine workers; and
- mineral rights ownership in countries where our mineral deposits are located,
including the effect of the Mineral and Petroleum Resources Development Act
(South Africa);
- changes in general economic conditions, the financial markets and in the
demand and market price for gold, silver and other minerals and commodities,
such as diesel fuel, coal, petroleum coke, steel, concrete, electricity and
other forms of energy, mining equipment, and fluctuations in exchange rates,
particularly with respect to the value of the U.S. dollar, Canadian dollar and
South African rand;
- unusual or unexpected formation, cave-ins, flooding, pressures, and precious
metals losses (and the risk of inadequate insurance or inability to obtain
insurance to cover these risks);
- changes in accounting policies and methods we use to report our financial
condition, including uncertainties associated with critical accounting
assumptions and estimates;
- environmental issues and liabilities associated with mining including
processing and stock piling ore;
- geopolitical uncertainty and political and economic instability in countries
which we operate; and
- labour strikes, work stoppages, or other interruptions to, or difficulties in,
the employment of labour in markets in which we operate mines, or environmental
hazards, industrial accidents or other events or occurrences, including third
party interference that interrupt the production of minerals in our mines.
For further information on Great Basin Gold, investors should review the
Company`s annual Form 40-F filing with the United States Securities and Exchange
Commission www.sec.com and home jurisdiction filings that are available at
www.sedar.com.
Canada
31 May 2012
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 31/05/2012 07:46:01 Produced by the JSE SENS Department.
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