Old prospect to make new Gauteng gold mine

摘要

It is a decade and half since a new greenfields gold mine was on the drawing board. The property is not a new find, but includes a number of properties now consolidated into one project called Southgold, situated near the town of Balfour 85km south of Johannesburg. The old Burnstone property previously held by Gencor forms part of the property. The Burnstone property was drilled in part by Gencor but neglected due to the perception by Gencor that it would be difficult to mine what was thought to be a small deposit and due to its change in exploration focus in the early 1990s. Now with the rand well down against the dollar, and the gold price showing signs of sustained recovery, Southgold (Pty) Limited, a company comprising senior South African mining entrepreneurs, has taken a fresh look at this orebody which could well have the potential to become a multimillion-ounce gold mine.