Gold One

The company's 9,760 hectare Ventersburg Project is situated in the Witwatersrand Basin in Free State Province east of the main Free State Goldfields, approximately 25km southeast of the city of Welkom. Gold One Africa announced in November 2006 that the South African Department of Minerals and Energy had formally granted the prospecting right to the company for the Ventersburg Project.

Some 78 boreholes were drilled in and around the prospect area between 1948 and 2004. In the northern portion of the area, 32 drillholes intersected the "A" Reef with assay returns ranging from 1.31g/t to 30.35g/t gold over widths of up to 2.0m at depths of between 530m and 860m. The Leader Reef, located some 100m below the "A" Reef is also present in the area although it is less well developed.

The project area is located within a northerly trending graben structure, which is bounded to the west by the Virginia Fault and to the east by the Ventersburg Fault. A number of easterly trending normal faults transect the area, with downthrows to the south. The "A" Reef dips shallowly to the west, east of the Virginia fault.

Resources for the "A" reef over the northern portion of the prospect area have been estimated at 6.0 million ounces* of gold. However, the resource is not SAMREC nor 43-101 compliant as much of the historical data cannot be verified and the sedimentology of the area is not well known. Consequently, an exploration program aimed at deriving a SAMREC compliant resource will commence in 2007.  On 15 July 2009, Gold One Africa announced that it has commenced the 2nd phase of resource definition drilling at its 100% owned Ventersdorp Project, located on the Witwatersrand Basin in the gold prolofic Free State province of South Africa.

The Ventersburg Project currently has JORC/SAMREC compliant indicated and inferred gold resources of +3million ounces.