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Wednesday, 23rd May 2007 (3175 views)

Great Basin Gold has announced that underground drilling at its Hollister project has expanded and upgraded the mineral resources at the site.

Hollister is located in Nevada in the US and is on the prolific Carlin Trend which is approximately 2 million ounces of gold equivalent..

The firm is carrying on the surface exploration drilling at the site and it has outlined a high-grade gold and silver resource at both the Clementine and Gwenivere vein systems. Grades are as high as 0.25 ounces of gold per tonne for 790,000 tonnes plus 1.29 ounces of gold per tonne for approximately one million ounces.

A decline shaft has been hastily constructed and it goes underground for about 16,750 metres and goes some way towards filling in the gaps left by the surface drilling programme.

Ferdi Dippenaar, the chief executive officer of the firm, said: "We are pleased with the outcome of the drilling programme, as it validates the confidence that we have in the potential of the deposit.

"Through an additional 40,000 foot drilling programme, of which approximately 15,000 feet have been completed, there is huge potential to upgrade the inferred resources to measured and indicated categories and to add resources by drilling the newly discovered veins along strike."

 

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