Wits Basin PR
Wits Basin Announces Receipt of New Order Mineral Permits for the FSC Project, South Africa
Thursday October 19, 7:19 am ET
MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc., (OTCBB:WITM - News) is pleased to announce that it has been advised by AfriOre (Pty) Limited ("AfriOre") that AfriOre has received New Order Prospecting Rights under South Africa's Mineral and Petroleum Resources Development Act thus allowing for further exploration to progress at the FSC gold project. The Prospecting Rights which have been granted cover an area of approximately 52,615 hectares (129,959 acres) of the estimated total of 102,612 hectares (253,451 acres) where rights are held, are in application or subject to conversion at the FSC gold project. Following completion of drill hole BH 48 (which intersected quartzites that were positively identified as Witwatersrand Supergroup strata) additional geophysics and seismic interpretations have been completed. Preparations are now underway to mobilize a drill rig to the next drill site as additional drill targets are being identified.
Vance White, Chairman of the Board of Wits Basin commented, "We are particularly delighted at the cooperation between South Africa's Department of Minerals and Energy and the project manager, AfriOre, in awarding these rights so that we can resume our exploration program in the southern extension to the Witwatersrand Basin at the FSC gold project."
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in five 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. (OTCBB: WITM - News) visit our website at www.witsbasin.com.
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