Gold News

Great Basin Gold receives 15% mineral increase

Mining company Great Basin Gold has reported a 15 per cent increase in overall mineral resources at its Hollister project in Nevada.

Following further exploration and infill drilling at the site the company now estimates that the project's mineral resources will total 2.3 million ounces.

In the measured and indicated category Hollister's estimated mineral resources now stand at 1.6 million gold equivalent ounces, up 60 per cent from the previous one million.

The exploration program at Hollister is still in the early stages and will continue over the coming months. It is therefore thought that these resources could even rise further.

"With the increased size of the measured and indicated resource, the life-of-mine plan for Hollister could change, possibly extending the life of the operation considerably," said Ferdi Dippenaar, chief executive of Great Basin Gold.

Meanwhile Durango Capital has signed an agreement with Teck Cominco Limited to acquire a 100 per cent interest in the latter's Big Bulk Property in British Columbia, which could be of interest to those buying gold.

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