Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
TSX Code: WGR
CUSIP NUMBER: S98297104
JOHANNESBURG, June 23 /CNW/ - Witwatersrand Consolidated Gold Resources Ltd. ("Wits Gold" or the "Company") (TSX:WGR; JSE:WGR; OTC:WIWTY) today announced that a contract has been signed with GAP Geophysics to undertake a 2D seismic reflection survey over its Deelkraal South prospecting rights located near Carletonville.
The Kusasalethu Gold Mine (formerly Elandskraal) belonging to Harmony, is situated immediately north of Deelkraal South where the Elsburg and Ventersdorp Contact Reef (VCR) are currently being mined.
Wits Gold CEO, Marc Watchorn, commented: "We are excited about the potential of Deelkraal South in view of previous exploration drilling by Gold Fields. This resulted in the sinking of a shaft on the property to access the lower sections of the VCR. Sinking operations to a planned depth of 1900 metres started in May 1988, but were stopped in December 1990 at a depth of 1326 metres due to adverse market conditions".
The seismic coverage at Deelkraal South will comprise 33 line km and will extend from the southernmost VCR workings at Kusasalethu to the southern boundary of Wits Gold's prospecting rights. Marc Watchorn added: "The aim is to determine the depth and structure of the VCR within the Deelkraal South project area to assist with the design of a diamond drilling programme".
In November 2007, an NI 43-101 compliant resource for Deelkraal South was estimated by independent Qualified Persons, George Gilchrist and Shaun Hackett of Snowden Mining Industry Consultants. The report entitled, "Witwatersrand Consolidated Gold Resources Limited: Mineral properties in the Southern Free State, Potchefstroom and Klerksdorp Goldfields, South Africa" estimated an Inferred Resource at Deelkraal South of 20.5 Mt at 14.6 g/t Au (9.6 Moz).
It is anticipated that the acquisition of seismic data will commence during the week of 21 June 2010.
SOURCE Wits Gold
For further information: For further information: Dr. Marc Watchorn, Chief Executive Officer, Tel: +27 11 832 1749; Mr. Hethen Hira, Investor Relations, Tel: +27 11 832 1749, www.witsgold.com