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GBG - Great Basin Gold Limited - Burnstone Mine Power Supply Development Update
GREAT BASIN GOLD LIMITED
(Incorporated in Canada and registered as an External Company in South Africa)
(Registration No. 2006/021304/10)
Share Code: GBG ISIN Number: CA3901241057
("Great Basin Gold" or "the Company")
BURNSTONE MINE POWER SUPPLY DEVELOPMENT UPDATE
November 30, 2009, Vancouver, BC - Great Basin Gold Ltd. ("Great Basin Gold" or
the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) reports on the progress of
the power supply to its Burnstone Mine project in South Africa.
All design work for the first of two lines between a proposed switching station
(positioned between Grootvlei Power Station and Burnstone Mine) has been
completed and material ordered, with construction scheduled to commence early
January 2010. The proposed refurbishment of two existing lines between Grootvlei
and the proposed switching station is currently being finalized and is also
planned to commence in early 2010.
The proposed commissioning date of the permanent supply that will follow a power
demand buildup, as agreed between Eskom (the state-owned energy company) and
Great Basin Gold, is at the end of June 2010. As an interim arrangement,
Burnstone will be supplied with 25 MVA by means of a new 88 kV line. The full 51
MVA, as agreed between Eskom and Great Basin Gold, will be supplied as soon as
the construction of the Switching Station as well as the refurbishment of the
two lines from Grootvlei Power Station has been completed.
The electrical installation at the Burnstone Project was designed to comply with
Eskom energy efficiency specifications as set out in the ` Generic Energy
Efficiency Specification`. Independent certification in this regard will be
done prior to activation of the energy supply, effecting the issue of an Eskom
`Energy Efficiency Compliance certificate`. In order to supplement the latter,
creative power saving methods have been integrated in the design, such as the
use of high efficiency motors, optimized electrical infrastructure, alternative
power technologies, and state of the art power monitor and control
technologies.
Ferdi Dippenaar, President and CEO, commented: "We are pleased with the
progress made by Eskom with the supply of power to the Burnstone Mine. All
parties involved are contributing. A project steering committee between
representatives of Eskom and the Company has been established and meets on a bi-
weekly basis to monitor project progress, to ensure that time lines are met
which will see the successful commissioning of the vertical shaft and
metallurgical plant by end June 2010."
For additional details on Great Basin Gold and its gold properties, please visit
the Company`s website at www.grtbasin.com or contact Investor Services:
Tsholo Serunye in South Africa 27 (0) 11 301 1800
Michael Curlook in North America 1 (888) 633 9332
Barbara Cano at Breakstone Group in the USA (646) 452 2334
No regulatory authority has approved or disapproved the information contained in
this news release.
Cautionary and Forward Looking Statement Information
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address financing events or technical developments that Great Basin
Gold expects to occur are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include financial
market conditions, metals prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party opposition,
geopolitical uncertainty, changes in government policies regarding mining and
natural resource exploration and exploitation, continued availability of
capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those
projected in the forward-looking statements. For more information on the
Company, Investors should review the Company`s annual Form 40-F filing with the
United States Securities and Exchange Commission and its home jurisdiction
filings that are available at www.sedar.com.
Date: 30/11/2009 15:40:43 Supplied by www.sharenet.co.za
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