GOLD FEASIBILITY – Great Basin’s Burnstone project gets thumbs up

SOUTH AFRICA - Vancouver-based GREAT BASIN GOLD has received a positive feasibility report on its Burnstone project near Johannesburg. A capital investment of US$144.5 million will be needed to create an operation averaging 214,000 oz of gold annually over 14 years. Operating costs of US$36.63/oz are estimated, and cash costs would be US$254.42/oz.

The study recommends development of both a decline and shaft for underground mining. The processing flowsheet includes conventional crushing, SAG and ball milling, gravity separation and CIL circuits. Gold recovery is expected to be 95%. Proven and probable reserves (using 4.0 g/t Au as a cut-off) are 15.9 million tonnes grading 4.65 g/t Au, containing 2.4 million oz of gold.

Other parameters and key results of the feasibility study can be read at www.GreatBasinGold.com. Great Basin Gold is a HUNTER DICKINSON company.