Thursday, 11th October 2007 (1678 views)

Bulk ore samples from Great Basin Gold's Hollister project have yielded "excellent grades" thus far, the company said.

The company is currently in the process of an underground exploration and development programme at the site, following the "robust" results of a feasibility study completed in July.

President and chief executive officer of Great Basin Gold, Ferdi Dippenaar, said that the Hollister project is progressing smoothly.

"Management is pleased with the improved results of the second bulk sample for its Hollister Project," he said.

"Great Basin Gold planned to produce some 6,000 oz of gold equivalent during 2007, as part of the preparation to put the mine into production in 2008," he added.

He clarified that 4,773 gold-equivalent ounces have been produced onsite thus far, with plans for further improvements to be made by the end of the year.

Great Basin Gold currently holds two major properties – the Hollister project in the state of Nevada and the Burnstone project near Johannesburg, South Africa.

 

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