Wits Basin PR
Wits Basin Provides Updates on Gold Exploration Projects
THURSDAY, MARCH 16, 2006 7:16 AM
- BusinessWire
MINNEAPOLIS, Mar 16, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) announces the following updates on its South African and Colorado gold exploration projects.
FSC Project
Just recently, AfriOre Limited (CA:AFO) , our joint venture partner and the operator at the FSC Witwatersrand Project (which stands for "Free State Cape" project) recently met with members of our management and board of directors and provided an update of the newly available seismic data, including various geological documents that are currently under review by AfriOre's team of experts. Their team has identified the area for the next drilling target by utilizing last year's drilling results and the follow up study of geophysics and geophysical interpretation. Plans are underway to secure a drilling rig as soon as available and place it into service. Wits Basin should have updated information within the next six weeks.
Bates-Hunter
Plans for a site visit by Dr. Clyde Smith and members of his consulting team have been scheduled. They will be selecting the location for the underground drill station in order to test for the multiple parallel veins believed to be present within the current mine workings. The recently announced assay results, supplemented by the samples currently being tested, will be used to develop a plan to search for various multiple vein structures. The drilling equipment has been readied and delivered to the mine site.
The surface drilling program is still being reviewed and drilling contractors are being located and qualified. Wits Basin should have updated information within the next four weeks regarding the feasibility of a surface drilling program.
