Owner
Post by Franko10 ™ on Feb 17, 2006 9:29:50 GMT -5
Wits Basin Enlists Dr. Clyde Smith to Assist With the Colorado Gold Project
Last Update: 7:47 AM ET Feb 17, 2006
MINNEAPOLIS, Feb 17, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. is pleased to announce additional members to its consulting base of professionals. In January, we announced our consulting agreement with Chuck Mottley. As part of his commitment to Wits Basin, Mr. Mottley has made a recommendation for additional team members. Through that recommendation, Wits Basin has enlisted the consulting services of Dr. Clyde Smith to assist us at the Bates-Hunter Gold Mine project in Central City, Colorado.
Dr. Smith has said, "The Bates-Hunter Gold Mine has a recorded history of significant gold production from high-grade bodies located in steeply-dipping quartz veins. Records indicate that the mine was productive to a depth of 745 feet prior to 1910, after which it was flooded. The mine workings are currently being de-watered and are now open to a depth of approximately 170 feet. Recent underground geologic observations and assay results indicate that ore potential exists as previously unidentified targets to that depth and, by extension, possibly throughout the depth previously mined. In addition, the veins in the Bates-Hunter Gold Mine exhibit strong geologic similarities to other productive veins in the surrounding Central City District. Some of these veins were productive to depths of up to 2,250 feet. It is believed that the unexplored potential of the Bates-Hunter deposit below 745 feet to a depth of 2,250 feet, or deeper, is the principal exploration target. The recommended focus of the current exploration plan is to test this depth potential by either surface or underground diamond drilling; drilling plans will be announced and updated within the coming weeks."
About Dr. Smith
Dr. Smith holds a B.A. from Carleton College, a M.Sc. from the University of British Columbia, and a Ph.D. from the University of Idaho. He is a registered Professional Engineer with the Association of Professional Engineers and Geoscientists of British Columbia. Dr. Smith has founded or co-founded five exploration companies and is responsible for the discovery of four deposits: the Jason lead-zinc-silver deposit, Yukon Territory, Canada; the Santa Fe gold deposit, Nevada; the North Lake gold deposit, Saskatchewan, Canada; and the Solidaridad gold-silver-copper deposit, Mexico. He is currently engaged in a gold-platinum project in Nevada and serves as the consulting geologist for El Capitan Precious Metals, Inc. on its El Capitan gold-platinum group metals project in New Mexico.
About Mr. Mottley
In addition to his active service as President and CEO of El Capitan Precious Metals, Inc. (ECPN :el capitan precious metals inc com ) Mr. Mottley serves as a member of the Board of Directors of The National Mining Association.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in three exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM : visit our website at www.witsbasin.com. )
Forward-Looking Statements and Risk Factors
Certain statements contained in this press release are forward-looking in nature and are based on the current beliefs and assumptions of our management. Words like "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict," and similar expressions and their variants may be used to identify forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes.
The exploration for and development of mineral deposits involves significant financial risks, which even experience and knowledge may not eliminate, regardless of the amount of careful evaluation applied to a process. While the discovery of a mineral deposit may result in substantial rewards, few properties are ultimately developed into producing mines. Moreover, we cannot make any estimates regarding probable reserves and mineral resources in connection with any of our projects and any estimates relating to possible reserves are subject to significant risks. Therefore, no assurance can be given that any size of reserves or grades of reserves will be realized. If a discovery is made, the mineral deposit discovered, assuming recoverable, may differ from the reserves and mineral resources already discovered and recovered by others in the same region of the planned areas of exploration.
The cost of exploration and exploitation can be extensive and there is no assurance that we will have the resources necessary or the financing available to pursue projects we currently hold interests in or to acquire interests in other mineral exploration projects that may become available. The risks are numerous and detailed information regarding these risks may be found in filings made by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-KSB, quarterly reports on Form 10-QSB and reports on Form 8-K.
SOURCE: Wits Basin Precious Minerals Inc.
Wits Basin Precious Minerals Inc. Stephen King, Director, 612-490-3419 Vance White, CEO, 866-214-WITM (9486) Copyright Business Wire 2006 End of Story
Last Update: 7:47 AM ET Feb 17, 2006
MINNEAPOLIS, Feb 17, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. is pleased to announce additional members to its consulting base of professionals. In January, we announced our consulting agreement with Chuck Mottley. As part of his commitment to Wits Basin, Mr. Mottley has made a recommendation for additional team members. Through that recommendation, Wits Basin has enlisted the consulting services of Dr. Clyde Smith to assist us at the Bates-Hunter Gold Mine project in Central City, Colorado.
Dr. Smith has said, "The Bates-Hunter Gold Mine has a recorded history of significant gold production from high-grade bodies located in steeply-dipping quartz veins. Records indicate that the mine was productive to a depth of 745 feet prior to 1910, after which it was flooded. The mine workings are currently being de-watered and are now open to a depth of approximately 170 feet. Recent underground geologic observations and assay results indicate that ore potential exists as previously unidentified targets to that depth and, by extension, possibly throughout the depth previously mined. In addition, the veins in the Bates-Hunter Gold Mine exhibit strong geologic similarities to other productive veins in the surrounding Central City District. Some of these veins were productive to depths of up to 2,250 feet. It is believed that the unexplored potential of the Bates-Hunter deposit below 745 feet to a depth of 2,250 feet, or deeper, is the principal exploration target. The recommended focus of the current exploration plan is to test this depth potential by either surface or underground diamond drilling; drilling plans will be announced and updated within the coming weeks."
About Dr. Smith
Dr. Smith holds a B.A. from Carleton College, a M.Sc. from the University of British Columbia, and a Ph.D. from the University of Idaho. He is a registered Professional Engineer with the Association of Professional Engineers and Geoscientists of British Columbia. Dr. Smith has founded or co-founded five exploration companies and is responsible for the discovery of four deposits: the Jason lead-zinc-silver deposit, Yukon Territory, Canada; the Santa Fe gold deposit, Nevada; the North Lake gold deposit, Saskatchewan, Canada; and the Solidaridad gold-silver-copper deposit, Mexico. He is currently engaged in a gold-platinum project in Nevada and serves as the consulting geologist for El Capitan Precious Metals, Inc. on its El Capitan gold-platinum group metals project in New Mexico.
About Mr. Mottley
In addition to his active service as President and CEO of El Capitan Precious Metals, Inc. (ECPN :el capitan precious metals inc com ) Mr. Mottley serves as a member of the Board of Directors of The National Mining Association.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in three exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM : visit our website at www.witsbasin.com. )
Forward-Looking Statements and Risk Factors
Certain statements contained in this press release are forward-looking in nature and are based on the current beliefs and assumptions of our management. Words like "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict," and similar expressions and their variants may be used to identify forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes.
The exploration for and development of mineral deposits involves significant financial risks, which even experience and knowledge may not eliminate, regardless of the amount of careful evaluation applied to a process. While the discovery of a mineral deposit may result in substantial rewards, few properties are ultimately developed into producing mines. Moreover, we cannot make any estimates regarding probable reserves and mineral resources in connection with any of our projects and any estimates relating to possible reserves are subject to significant risks. Therefore, no assurance can be given that any size of reserves or grades of reserves will be realized. If a discovery is made, the mineral deposit discovered, assuming recoverable, may differ from the reserves and mineral resources already discovered and recovered by others in the same region of the planned areas of exploration.
The cost of exploration and exploitation can be extensive and there is no assurance that we will have the resources necessary or the financing available to pursue projects we currently hold interests in or to acquire interests in other mineral exploration projects that may become available. The risks are numerous and detailed information regarding these risks may be found in filings made by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-KSB, quarterly reports on Form 10-QSB and reports on Form 8-K.
SOURCE: Wits Basin Precious Minerals Inc.
Wits Basin Precious Minerals Inc. Stephen King, Director, 612-490-3419 Vance White, CEO, 866-214-WITM (9486) Copyright Business Wire 2006 End of Story
