About West Wits Mining
West Wits was originally formed to explore, evaluate and potentially extract gold and uranium from project areas located on the West Rand Goldfield of South Africa's Witwatersrand Basin. Historically this South African Project Area has collectively produced 61.4 million ounces of gold and 37 million pounds of uranium over the past 120 years. Currently West Wits has a 59,000 ounce JORC gold reserve and a 426,700 ounce JORC gold resource established from four near surface targets. The Company is now assessing how best to commercise these projects.
On 28 July 2011, West Wits acquired the Derewo River Gold Project, located in the Papua Province, Indonesia. This acquisition provides entry into a high grade placer deposit based on evidence from existing artisanal operations. However the real opportunity and focus of this project will be in the exploration upside of uncovering the source of these high grade alluvial gravels.
The Company is currently developing a hydraulic alluvial operation and ramping-up exploration to determine the source of these high grade alluvial gravels.