Wits Gold announces drilling results from the De Bron project, southern Free State



    
    Witwatersrand Consolidated Gold Resources Limited ('Wits Gold' or
    'the Company')
    (Incorporated in the Republic of South Africa)
    Registration Number 2002/031365/06
    JSE Code: WGR
    ISIN: ZAE000079703
    TSX Code: WGR
    CUSIP Number: S98297104
    

    JOHANNESBURG, South Africa, Jan. 20 /CNW/ - Wits Gold (JSE: WGR; TSX:
WGR; ADR: WIWTY.PK) wishes to report its recent drilling results from the
Company's shallow De Bron project in the southern Free State. This area is
situated immediately south of Harmony's Merriespruit Section of Harmony Gold
Mine. At De Bron, 14 boreholes previously intersected Witwatersrand reefs at
depths of between 500-1100 metres below surface.
    In November 2007, using these data a NI43-101 compliant technical report
was compiled by Snowden Mining Industry Consultants in which the contained
mineral resources in the De Bron area were quantified. Snowden estimated an
Indicated Resource of 16.1Mt at 5.3g/t Au (2.7Moz) and 0.129kg/t U3O8
(4.6Mlbs)as well as an Inferred Resource of 12.0Mt at 5.6g/t Au (2.2Moz) and
0.118kg/t U3O8 (3.1Mlbs).
    Wits Gold subsequently initiated follow-up drilling in order to improve
the definition of this resource and to test the continuity of the contained
mineralisation. Accordingly, the following results have been obtained from the
first four boreholes in this programme.

    
                             True
                    Depth    width    Gold    Gold       U3O8     U3O8
    Borehole         (m)     (cm)     (g/t) (cm.g/t)    (kg/t)  (cm.kg/t)

    Beatrix Reef
    DWN24          Behind  subcrop
    DWN25           497.2    117.0     9.2     1075     0.020       2.37
    WF1             607.6     90.2     4.5      402     0.152      13.68
    WF2(*)          462.6    115.5     4.9      561     0.105      12.15

    B Reef
    DWN24          Behind  subcrop
    DWN25(*)        507.7    224.8     2.8      640     0.101      22.65
    WF1             625.7    261.6     1.3      332     0.021       5.41
    WF2             472.1    246.9     2.2      539     0.062      15.34

    Leader Reef
    DWN24          Behind  subcrop
    DWN25           532.3    124.4    18.2     2259     0.562      69.95
    WF1             651.2     94.0    18.8     1772     0.731      68.75
    WF2(*)          504.8    119.8     4.3      510     0.533      63.90

    (*) Some assay results still awaited, therefore only the first
        intersection is reported.
    

    The management of Wits Gold is particularly encouraged by the results
from the Beatrix and Leader Reefs, as these two bodies are likely to host most
of the in situ resource at De Bron. Two drill rigs continue to operate in this
area, where the Company's objective is to complete a revised resource estimate
during the first quarter of 2009.

    Quality Assurance, Quality Control and Qualified Persons

    Exploration at the De Bron Project is being conducted under the
supervision of Mr Russell Dell (M.Sc Geology), manager for the Project. Mr
Dell is a geologist with more than 20 years experience in gold exploration in
the Witwatersrand Basin. He is a registered Professional Natural Scientist
("Pr.Sci.Nat.") with the South African Council for Natural Scientific
Professionals ("SACNASP") and is a member of the Geological Society of South
Africa. Mr Dell is a full time employee of Wits Gold and has assisted in
compiling the information in this release.
    The Company's Exploration Manager, Mr Dirk Muntingh, the Company's
Qualified Person for the De Bron Project, as defined under National Instrument
43-101, is responsible for the technical material in this release. Mr Muntingh
(M.Sc. Geology) is a registered Professional Natural Scientist ("Pr.Sci.Nat.")
with the South African Council for Natural Scientific Professionals
("SACNASP") and has 17 years of experience in gold exploration. The content of
this release has been compiled by Mr Muntingh.
    Drill holes were drilled predominantly at NQ size (47.6 mm), while some
of the Leader Reef intersections were drilled using a triple-tube core barrel
(45 mm diameter core) in order to optimize the recovery of frail carbon
material within this reef. All drill-core is logged by qualified geologists,
who identify mineralized intervals which are then sampled. Sample intervals of
between 20 cm and 50 cm are demarcated on the basis of lithological changes
and the core is then split by means of a diamond saw. Geological logging and
sampling was carried out under the supervision of Mr Muntingh.
    Batches of samples are submitted to Anglo Research Laboratory in
Johannesburg where they are prepared and analyzed for gold, silver and
uranium. Anglo Research Laboratory is an ISO/IEC 17025 accredited laboratory.
Gold and silver analyses were carried out using a fire assay technique with an
ICP finish. Uranium is analyzed by XRF on a fused pellet. Quality control
("QC") procedures include the submission of at least one blank and one
certified standard sample per reef or per 20 samples. Results of the standards
are analyzed on a batch by batch basis, as is all internal Quality Assurance
("QA"/QC included by the laboratory which includes laboratory repeats,
standards and blanks. Further details of the Wits Gold QA/QC procedures have
been described in the Wits Gold Independent Technical Report.
    Information concerning the geology, mineral occurrences, nature of
mineralization, rock types and geological controls has previously been
communicated in the Company's filed NI 43-101 compliant Independent Technical
Report dated November 2007, which can be viewed at www.sedar.com.

    Forward-Looking Information

    Certain statements in this news release may constitute forward-looking
information within the meaning of securities laws. In some cases, forward
looking information can be identified by use of terms such as "may", "will",
"should", "expect", "believe", "plan", "scheduled", "intend", "estimate",
"forecast", "predict", "potential", "continue", "anticipate" or other similar
expressions concerning matters that are not historical facts. Forward-looking
information may relate to management's future outlook and anticipated events
or results, and may include statements or information regarding the future
plans or prospects of the Company. Without limitation, statements about the
location of the majority of the in situ resource at De Bron and the expected
timing of a revised resource estimate are forward-looking information.
    Forward looking information involves known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the Company to be materially different from the
future results, performance or achievements expressed or implied by such
forward looking information. Such risks, uncertainties and other important
factors include among others: economic, business and political conditions in
South Africa; decreases in the market price of gold; hazards associated with
underground and surface gold mining; the ability to attract and retain
qualified personnel; labor disruptions; changes in laws and government
regulations, particularly environmental regulations and mineral rights
legislation including risks relating to the acquisition of the necessary
licences and permits; changes in exchange rates; currency devaluations and
inflation and other macro-economic factors; risk of changes in capital and
operating costs, financing, capitalization and liquidity risks, including the
risk that the financing required to fund all currently planned exploration and
related activities may not be available on satisfactory terms, or at all; the
ability to maximize the value of any economic resources. These forward-looking
statements speak only as of the date of this document.
    You should not place undue importance on forward-looking information and
should not rely upon this information as of any other date. The Company
undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after the date
of this document or to reflect the occurrence of unanticipated events except
where required by applicable laws.

    
    Sponsor
    PricewaterhouseCoopers Corporate Finance (Pty) Ltd
    





For further information:

For further information: Marc Watchorn, Chief Executive Officer, Tel:
+27 11 832 1749; Hethen Hira, Investor Relations, Tel: +27 11 832 1749,
Johannesburg

Organization Profile

Wits Gold

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890