Wits Basin PR
Wits Basin Updates Colorado Assay Results; Dr. Clyde Smith Discusses Drilling Strategy
MONDAY, JUNE 12, 2006 7:00 AM
- BusinessWire
MINNEAPOLIS, Jun 12, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) has received further details regarding the 8th set of assay results from the Bates-Hunter Gold Mine in Central City, Colorado. Results as reported by Brian Alers (PGeol), "The gold assay results have been received and include grades of 1.054 ounces, .964 ounces and .939 ounces per ton gold." The complete table of assay results will be posted on the Wits Basin website.
Commenting on these results, Dr. Clyde Smith made the following observations, "The Bates-Hunter Gold project is moving ahead on two fronts. As de-watering of the underground mine workings progresses, geologic information is being gathered at regular intervals. Location of gold-bearing vein material in the workings and mapping of vein structure is continuing to contribute to our understanding of the geology of the high-grade gold deposit that was mined in the past. An outgrowth of this work, combined with compilation and re-assessment of previously collected data, has indicated that potential exists for discovery of ore shoots in veins that are adjacent and parallel to the Bates Vein. These adjacent veins are targets that require diamond drilling from underground. Drilling from the 165' level is being moved to the next lower level as new caving at this second level will not permit drilling. Underground drilling is now planned from the next level to be exposed by de-watering.
"The principal focus of the Bates-Hunter Gold project, however, is to discover new gold ore bodies at depth beneath the deepest 745' level of previous mining. This will require a comprehensive program of diamond drilling from surface targeted initially to test the projection at depth of the principal high-grade gold ore shoot in the Bates Vein that was mined in the past. The drill holes recommended should intersect the Bates Vein at approximately 1000' below the surface and well below the 745' deepest level of previous mining. In addition, these holes will pass through depth projections of several past producing gold veins other than the Bates, also below the deepest levels of previous mining on these veins. Directional drilling from down-hole wedging sites will allow the drilling of multiple holes to test a variety of sites in any veins intersected. The company is now seeking a qualified drilling company to conduct the surface program."
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.
