Dr. Marc Watchorn reports
WITS GOLD INTERSECTS FURTHER SHALLOW REEFS IN THE DE BRON-MERRIESPRUIT SOUTH (DBM) PROJECT
Witwatersrand Consolidated Gold Resources Ltd. has completed two additional diamond drill holeson the eastern portion of the De Bron-Merriespruit South (DBM)project, near Virginia in the free-state goldfield of South Africa.Both of these boreholes intersected four superimposed reefs at shallowdepths of less than 750 metres below surface. Borehole results are tabulated.
Borehole D10 Depth (m) Width (cm) Gold (g/t) Gold (cm.g/t) U3O8 (kg/t) U3O8 (cm.kg/t)Beatrix Reef 487.5 66.3 0.42 28 0.019 1.26KK Reef 488.1 57.3 0.67 38 0.027 1.56B Reef 499.8 102.3 1.89 194 0.032 3.28Leader Reef 535.5 103.0 2.04 211 0.144 14.80Borehole D11 Depth (m) Width (cm) Gold (g/t) Gold (cm.g/t) U3O8 (kg/t) U3O8 (cm.kg/t)Beatrix Reef 670.0 73.5 1.95 144 0.037 2.71KK Reef 671.6 83.4 1.95 162 0.004 0.29B Reef 681.0 96.7 0.22 22 0.012 1.17Leader Reef 721.6 118.3 2.17 256 0.307 36.37
Commenting on the significance of these results, the company's chief executive officer, Dr.Marc Watchorn, said: "Although the gold grades intersected in theseboreholes were generally low, we are encouraged by the continuity ofreasonably wide zones of shallow gold mineralization to the east of ourprincipal DBM project. Furthermore, the presence of elevated uraniumgrades in the Leader Reef supports our intention to assess thepotential economic significance that uranium may play in the DBM area."
In a press release in Stockwatch dated Feb. 22, 2011, Wits Goldannounced thecompletion of revised gold and uranium resource estimates for the DBMproject. These comprised indicated gold resources of 34.5 milliontonnes at 5.3 grams per tonne(5.9 million ounces) and indicated uranium resources of 17 Mt at 0.16kilogram per tonne U3O8 (6.1 million pounds). In addition, there areestimated inferred gold resources of25 Mt at 5.2 g/t (4.2 million ounces) and inferred uranium resources of11.9 Mt at0.14 kg/t (3.7 million pounds). These estimates were disclosed in WitsGold's filedNational Instrument 43-101-compliant and Samrec-compliant independenttechnical report dated April,2011, which can be viewed on SEDAR. A preliminary economic assessmenton financial benefit of exploitingthese mineral resources is expected to be completed in April, 2011.
Exploration activities by Wits Gold at the DBM project have beenconducted under the supervision of Dirk Muntingh, the company'scompetent person and exploration manager. Mr. Muntingh (MSc, geology) isa registered PrSciNat with SACNASP and has 19 years of experience ingold exploration. Mr. Muntingh has reviewed and approved this newsrelease. Information concerning the geology, mineral occurrences,nature of mineralization, rock types, quality assurance and qualitycontrol measures applied, geological controls, sampling data,analytical testing procedures, names of analytical laboratories used,and the key assumptions, parameters and methods used in connection withexploration results disclosed herein is communicated in Wits Gold'sfiled NI 43-101-compliant and Samrec-compliant independent technical report datedApril, 2011, which can be viewed on SEDAR. The samples from boreholes D10 and D11 were analyzed using a 50-gram fireassay technique at Anglo Research, an ISO9001-accredited laboratory.
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