Monday, 26th June 2006 (2501 views)

South African gold explorer Wits Gold has been given two further prospecting rights for its activities in the North West and Free State provinces.

One of the rights covers more than 9,804 further hectares in the Potchefstroom gold field with an expected resource of 10.6 million ounces. This brings the combined inferred resources for Wits in Potchefstroom to around 75.8 million ounces.

The second prospecting right is for 1,230 acres in Free State's Klerksdorf field. An additional 1,230 hectares brings Wits' total at this field to around 13,302 hectares. The prospect is calculated to have as much as 6.2 million ounces of gold to yield.

Both prospecting rights are valid for another five years, expiring in 2011. They join the explorer's other interests in the Witwatersand basin, including the Southern Free State goldfield, bringing the total granted to eight.

The company now intends to improve its resource definition and has plans for five of the higher grade and shallower areas, identified as priorities owing to the intersection of auriferous conglomerates.

In the Klerksdorp goldfield, a review of data is also expected to lead to an exploration strategy that will see at least one project reach the pre-feasibility point by 2009.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.