Wits Basin PR
Wits Basin Begins Underground Drilling Program in Colorado
THURSDAY, MAY 18, 2006 7:15 AM
- BusinessWire
MINNEAPOLIS, May 18, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) has received a report from its project manager, George Otten: "The drills are now turning underground. We have been preparing the site, manpower and equipment these last few weeks and the underground program is now underway. Our plans are to report any information or results of the operation as they develop."
The statement by Mr. Otten is in reference to the drilling program we previously announced on April 26: Minneapolis, Minnesota, April 26, 2006 - Wits Basin Precious Minerals Inc., has received further details regarding the drilling program for the Bates-Hunter Gold Mine in Central City, Colorado.
Dr. Smith has submitted the following statement: "The Bates-Hunter project is now scheduled to begin both underground and surface diamond drilling (core) in the near term. The underground drill program will consist of several holes to be drilled from the 165 foot level. Underground drill targets are three veins known to lie parallel to and adjacent to the Bates-Hunter vein. Surface drilling will consist of holes to test the depth potential of the Bates-Hunter vein and parallel veins beneath the 745 foot level. It is expected that directional drilling from deeper levels in central holes will provide potential for multiple intercepts at depth."
As previously announced, Dr. Smith said, "A compilation of geologic data by Wits Basin's geologist, Mr. Brian Alers, presents evidence that at least three significant veins lie parallel to the Bates vein, the principal previously mined high-grade gold vein on the property. These three veins have remained unexplored. It is recommended that an underground drilling program be conducted at once to test these veins. In addition to testing the potential of these three veins in the upper levels of the Bates-Hunter Gold Mine, geologic information derived from this drilling program will contribute greatly to one of the goals of the project, that being to drill from surface across the entire Bates-Hunter vein system at depths beneath the 745 foot lower limit of previous mining. Mining of neighboring gold veins in the Central City District has demonstrated that high-grade gold ore exists to depths of at least 2,250 feet."
Wits Basin management believes these veins could produce even greater potential for ore than previously believed. 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.
