Great Basin Gold says draft EIS for Hollister published

Great Basin Gold (TSE:GBG(MKT:GBG said Wednesday that the publication of the notice of availability for the Hollister project's underground mine draft environmental impact statement (DEIS is expected in the Federal register on June 1.

The Hollister project, which is located in Nevada, is operated by Rodeo Creek Gold Inc., a wholly owned subsidiary of Great Basin Gold.

The company said that the news Wednesday marks a "major milestone" in the National Environmental Policy Act (NEPA process for the Hollister project.

The NEPA process analyzes the proposed development to determine if there will be significant environmental effects and also considers the social as well as economic effects of the Hollister underground mine.

The DEIS proposed action for Hollister outlines key activities such as transition from underground exploration and bulk sampling to full-scale production, continued and expanded surface and underground exploration activities, and construction of an 11. 6 mile power line to the mine site.

The DEIS also outlines the installation of either another ramp, or a shaft, to access different parts of the ore body.

The standard comment period for DEIS documents is at least 45 days, the company said in a release. During this time, comments can be provided to the Bureau of Land Management with regard to any aspect of the DEIS. 

The final EIS will address any comments that require changes, or any additional analysis.

«We are pleased the NEPA process which we have been working on with the BLM (Bureau of Land Management since late 2009 has culminated in the publication of the DEIS," chief executive Ferdi Dippenaar said.

«If all goes according to the planned administrative guidelines we anticipate the FEIS could be ready during the second half of 2012.»

Great Basin is a mining company engaged in the exploration and development of gold properties. It is focused on its two producing mines: the Hollister gold mine on the Carlin Trend in Nevada, and the Burnstone gold mine, in South Africa.

The company said it expects Burnstone to produce between 90,000 and 100,000 gold ounces at cash costs of US$900 and US$1,000 per ounce for fiscal year 2012. This is a marked improvement from the US$1,801 cash cost seen in 2011.

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