Great Basin Gold Ltd. is a mining exploration and development company with high quality gold deposits on the Carlin Trend of Nevada, USA, and in the Witwatersrand Goldfield of South Africa. With advanced stage gold projects in the world's most prolific gold producing environments Great Basin is poised to become a mid-tier gold producer.
Investment Highlights:
Anticipated low cost production. Production from a resource of 1 million gold equivalent ounces at the Hollister property on the prolific and highly developed Carlin Trend in Nevada is expected in 2008. Hollister's annual gold equivalent production is expected at 160,000 ounces for six years (50% attributable to Great Basin), at a grade of 1.3 ounces of gold per ton.
Gold production from the Burnstone Mine, located in the world's most prolific goldfield, the Witwatersrand Basin in South Africa. The area contains a gold resource in excess of 7 million ounces. Feasibility study of an initial operation in Area 1 at Burnstone indicates an average of 214,000 ounces of gold annually for 14 years. Substantial additional resources are available for later phases of development.
Extensive growth opportunities. Great Basin's Hollister and Burnstone properties provide high potential for increases of currently outlined resources through additional exploration. Programs are underway on both properties.
Financially Sound and debt free. Great Basin has a healthy balance sheet, debt free, a strong working capital position, and, through the Hecla agreement, is substantially funded to production at the Hollister property.
Great Basin Gold announced that a revised mineral resource estimate had been completed for the company’s Hollister project on the Carlin Trend in Nevada, USA. The overall contained gold equivalent ounces at Hollister have increased by 27% from 2.3 million in June 2008 to 2.9 million1. At a cut-off grade of 0.25 oz/ton (8.57 g/t Au), the combined measured and indicated mineral resources contain 1.45 million gold equivalent ounces grading 1.167 oz/ton (40.00 g/t) for gold and 8.59 oz/ton (295 g/t) for silver. A further 1.43 million gold equivalent ounces are contained in inferred mineral resources of 1.03 million tons at a grade of 1.340 oz/ton (45.95 g/t) for gold and 2.72 oz/ton (93 g/t) for silver; gold equivalent ounces in the estimated inferred resources increased 111% from June 2008.
Past Producer
Development
Exploration