Wits Gold (TSX: T.WGR, Stock Forum) Wednesday announced the completion of a pre-feasibility study on its De Bron-Merriespruit Project in the southern Free State goldfield, South Africa.
Highlights included an Indicated Resource of 26.7Mt at 5.8 g/t gold (4.99 million ounces), containing Reserves of 23.5Mt at 4.05 g/t gold (3.1 million ounces). Average annual production is expected to be 200,000 ounces of gold over an 18-year life of mine at production cash costs of US$628 per ounce.