Wits Basin PR
Wits Basin Updates Gold Assay Results
WEDNESDAY, APRIL 05, 2006 7:05 AM
- BusinessWire
MINNEAPOLIS, Apr 05, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) today releases their 5th consecutive set of assay results. Grades of ore for gold run as high as 1.126 ounces per ton and over 5 ounces per ton for silver. Vance White, CEO, commented, "We are very pleased to report these newest assay results from our Bates-Hunter project. This affirmation of continued positive assay results confirms our belief that the archival historical information is accurate." White continued, "Based on this archival data, the historical assays of the geologist, Williamson, showed an average grade of ore of 1.14 ounces over 64 samples. With this type of information, we believe this current vein may host well over 1 million ounces of gold."
Results as reported by Brian Alers (PGeol) include, "Rock chip samples from a vein exposed in a support pillar on the -163 level of the Bates-Hunter Gold Mine, contain up to 1.126 ounces of gold per ton and 5.55 ounces of silver per ton. A 1.9 foot wide channel sample across the pillar contained up to 0.426 ounces of gold per ton and 2.05 ounces of silver per ton. Trace element geochemistry results indicate that the vein contains very fine-grained gold and silver telluride minerals."
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Number Type Location Au Ag
(Gold) (Silver)
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BH-5072 Grab-HG 163 W 12 ft pil Underground 1.126 5.55
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BH-5073 Grab-HG 163 W 12 ft pil Underground 0.525 3.01
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BH-5074 Grab-HG 163 W 12 ft pil Underground 0.508 6.57
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BH-5075 1.9 ft channel 163 W 12 ft spil Underground 0.426 2.05
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BH-5076 2.9 ft channel 163 W 12 ft npil Underground 0.018 0.09
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BH-5077 1.9 ft channel 163 W 80 ft srib Underground 0.001 0.03
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BH-5078 Grab 163 SW 14 ft Underground 0.004 0.10
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Drilling Update
At the Bates-Hunter mine, the water level is currently below the 200 foot mark. Dewatering continues and the Company is preparing the drill station location needed to commence the underground core sample drilling. The target areas are the multiple parallel vein structures surrounding the Bates-Hunter vein. The current plans include fan drilling of at least 6 to 8 holes and to be able to report the results by the end of May 2006.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in three exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM) visit our website at www.witsbasin.com.
