Wits Gold Reports Seismic Survey Results

JOHANNESBURG, Jan. 26 /CNW/ - Witwatersrand Consolidated Gold Resources Limited ("Wits Gold") announces further information pertaining to its exploration programme on the Deelkraal South property, located near Carletonville in South Africa, adjacent to Harmony's Kusasalethu Gold Mine.

This follows the decision made in June 2010 to undertake a 2D seismic reflection survey on a grid that comprised a total of 33.7 line kilometres. The survey area extended into the contiguous southern portion of the Kusasalethu Gold Mine lease area, while the data interpretation included information from six historic surface boreholes, as well as recent underground mine plans.  The area contains down-dip extensions of the Ventersdorp Contact Reef (VCR) and Elsburg Reefs.

Wits Gold CEO, Marc Watchorn, commented: "The results of the seismic survey at Deelkraal South have constrained the characteristics of the VCR at depth relatively cost effectively, when compared with the expense of surface drilling". He added: "We are encouraged that the seismic interpretation confirms that the VCR structures affecting the Deelkraal South area are a natural extension of the small scale structures found at Kusasalethu Gold Mine".

Wits Gold will be able to use the seismic data to design a future drilling programme with greater confidence. In November 2007, a 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). The report is available on www.sedar.com and www.witsgold.com.  Information concerning the geology, mineral occurrences, nature of mineralisation, rock types, quality assurance and quality control measures applied, geological controls, sampling data, analytical or testing procedures and the names of analytical laboratories used are communicated in the above-noted technical report.

An interpretation of the results revealed an excellent response from the base of the Klipriviersburg Lava where the VCR occurs and the underlying quartzites and conglomerates of the Central Rand Group. The seismic sections obtained also showed remarkable consistency in reflection signature along both dip and strike lines. This enabled the mapping of faults with throws of between 15 and 25 metres. A depth contour map of the VCR indicates that the Reef occurs at the northern boundary of the Deelkraal South project at a depth of 3 100 metres adjacent to the planned mine blocks at Kusasalethu. From this northern boundary, the VCR dips to the south at between 25˚ and 30˚ to attain a maximum depth of 4 200 metres along the southern extreme of the Deelkraal South Prospecting Rights.

Mr Dirk Muntingh, the Company's Exploration Manager and Qualified Person is responsible for the technical material in this release. Mr Muntingh (MSc Geology) is a registered Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professionals (SACNASP) and has 18 years of experience in gold exploration.

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 anticipated events or results, and may include statements or information regarding the future drilling programme for the Deelkraal South property and future potential of exploration sites.

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, labour disruptions; changes in laws and government regulations, and macro-economic factors. 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.

SOURCE Wits Gold

For further information:

Dr. Marc Watchorn
Chief Executive Officer
Tel: +27 11 832 1749
    Mr. Hethen Hira           
Investor Relations           
Tel: +27 11 832 1749   

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Wits Gold

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