WITM Wits Basin Precious Minerals Inc. 27 million shares $0.49/share Along with its partner, Active Hawk Precious Minerals, has acquired 1,200 square kilometers of ground which appears to be an extension of the Witwatersrand Basin, which has produced 1.5 BILLION OUNCES OF GOLD and still has an estimated resource on one billion ounces of gold. Data from the recently updated geological model developed by Afri Ore and its academic consulting geologists indicates that Witwatersrand type rocks may exist under the Mesozoic age cover in the area. A recent aeromagnetic survey of over 1,200 sq kilometers was combined with results from a previous survey as well as historical drilling and seismic survey data to identify target drilling sites. A 14 month exploratory drill program has been started and is slated to be finished by February 2005 Wits Basin also has a Canadian property which they seeking a joint venture partner to help bring it to production. If the drill results show that gold is present, the price of the stock could rise, and considering the possibility that they could have not just a gold mine, but a gold district in their 1,200 square kilometers of land holdings, the stock could explode upward and just keep climbing.
Posts: 580 | Registered: Oct 2003
| IP: Logged |