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February 6, 2012
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| 08:47 EDT |  | GBG |
| theflyonthewall.com: | Great Basin Gold announces preliminary Q4 operating results | | The Nevada operations produced 20,727 Au eqv ounces1 from trial mining activities during the quarter vs. 26,045 Au eqv ounces in Q3. Reported 97,610 Au eqv oz for the full year of production vs. 95,186 Au eqv oz for 2010 -- this compares to an average annual forecast of 100,000 Au eqv oz for the year. A similar performance is expected in 2012. As previously indicated, the high grade nature of the Hollister ore body can lead to quarterly grade fluctuations, and this occurred in this quarter. The Au eqv grade increased by 8% from 0.75 oz/t, or 24.3 g/t, in Q3 2011 to 0.81 oz/t, or 26.2 g/t, in Q4 2011. The production ramp up at Burnstone continued, with ore development meters increasing by 4% from 2,786 metres in Q3 2011 to 2,900 meters in Q4 of 2011. Quarter-on-quarter, the square meters of stoping available increased by 42%. With the improved information on geological structures being applied to planned development, waste development meters per quarter decreased by 48% from levels reported in Q1 of 2011 to 1,083 meters in Q4 of 2011. :theflyonthewall.com |
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