Wits Basin PR
Wits Basin Announces Update to Colorado Assay Results; Management Believes Veins Could Produce Even Greater Potential
MONDAY, MAY 15, 2006 7:15 AM
- BusinessWire
MINNEAPOLIS, May 15, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) has received further details regarding the 7th set of assay results from the Bates-Hunter Gold Mine in Central City, Colorado. Results as reported by Brian Alers (PGeol): "A high-grade sample of the coarse grained chalcopyrite (CuFeS2) bearing center of the vein contains 2.625 ounces per ton gold (BH-5087). Final Gold fire assay values indicate that the 3-4 inch wide vein exposed base of the -163 foot pillar contained 1.750 ounces per ton gold (BH-5085). The vein in the top of the -163 pillar, approximately 8 feet above the floor, contains 1.126 ounces of gold per ton and 5.55 ounces of silver per ton (BH-5072). A 1.9 foot wide channel sample across the top of the pillar contains 0.426 ounces of gold per ton and 2.05 ounces of silver per ton (BH-5075)." The entire report listing all tested elements and results will be posted on the Company website. Mr. Alers indicated, "...the vein exposed in the pillar is getting higher grade at depth."
Commenting on these results, Dr. Clyde Smith made the following observations: "These recently received assay results tend to confirm that the grade of gold ore previously mined in the Bates-Hunter deposit was well within the range of potential ore grades at current gold prices." Dr. Clyde Smith serves Wits Basin under a consulting agreement associated with Charles Mottley, CEO of
El Capitan Precious Metals, Inc.
About Dr. Smith
Dr. Smith holds a B.A. from Carleton College, a M.Sc. from the University of British Columbia, and a Ph.D. from the University of Idaho. He is a registered Professional Engineer with the Association of Professional Engineers and Geoscientists of British Columbia. Dr. Smith has founded or co-founded five exploration companies and is responsible for the discovery of four deposits: the Jason lead-zinc-silver deposit, Yukon Territory, Canada; the Santa Fe gold deposit, Nevada; the North Lake gold deposit, Saskatchewan, Canada; and the Solidaridad gold-silver-copper deposit, Mexico. He is currently engaged in a gold-platinum project in Nevada and serves as the consulting geologist for El Capitan Precious Metals, Inc. on its El Capitan gold-platinum group metals project in New Mexico.
About Mr. Mottley
In addition to his active service as President and CEO of El Capitan Precious Metals, Inc. (ECPN) , Mr. Mottley serves as a member of the Board of Directors of The National Mining Association.
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.
