Tuesday, 28th November 2006 (2539 views)

Great Basin Gold, has announced it has finally received the go-ahead for prospecting in its Burnstone Project.



The company has been awaiting the green light from South Africa's department of minerals and energy under an old order prospecting right which was granted in 1981.



Great Basin has had this right now renewed into a more modern prospecting right which sees the firm having exclusive mining rights to the prospecting area and so work can now commence on gold production at Burnstone.



The site, which is located in South Africa's Witwatersand Goldfield, is estimated to have a life span of 14 years and the company looks forward to increasing its mineral resources by an average of 214,000 ounces per year.



Great Basin Gold mainly explores the Witwatersand basin and the Carlin Trend in Nevada because they are both extremely gold rich areas.



Burnstone in particular is situated within the world's most prolific goldfield with estimated resources of the area totalling seven million ounces.

 

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