GBG's 23.4M Au oz and 7.3M Au oz reserves
GBG's 23.4M Au oz and 7.3M Au oz reserves * a very conservative $350.00 per Au oz = $ 10.74500 billion U.S. dollars
Great Basin Gold is focused on its two emerging flagship mines in the world’s richest gold-producing regions, the Hollister gold mine located on the Carlin Trend in Nevada, USA and the Burnstone gold mine located in the Witwatersrand Basin goldfield of South Africa. Together, these operations comprise a total resource base of 23.4M Au oz and 7.3M Au oz reserves.
Properties
Tanzania
In Tanzania, exploration programs are being conducted in two separate geological terrains, namely the Archean (2.7-3.3 billion year old “Ga”), greenstone-hosted, Lake Victoria Goldfields (north-west) and the Proterozoic (2.2-1.6 Ga) Lupa Goldfields (south-west). Great Basin Gold also manages an 80% earn-in joint venture with African Barrick on 42 prospecting licences in the Geita Belt of the Lake Victoria Goldfields.
Mozambique
Great Basin Gold holds an 80% interest in an unincorporated joint venture with G S Minase Refnaria Limitade (“GSR”) in Mozambique. The purpose of the joint venture is to establish a gold exploration and mining business in Mozambique, whereby the Company will have the exclusive right to explore all GSR’s properties. Great Basin Gold manages the JV and is responsible for the day to day management of the exploration and other activities to be conducted.
