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 further high-grade underground drilling results from its Hollister property in Nevada for the quarter ended. Exceptional results have been achieved from underground boreholes HSD-116, 118, 84, 85, 86 and 87, which have intersected grades of 300 g/t to 2,150 g/t Au over widths ranging from 0.2 to 3m on the central Gwenivere vein system, and are part of the 40 vein intersections in excess of 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 77.04 g/t Au over 0.6m. Mineralisation in the Clementine vein system also continues to give intersections with robust grades: 24 boreholes averaged 32.07 g/t Au over 0.5m.
Past Producer
Development
Exploration