GBN

[fous]

Great Basin Gold Ltd.. The Group's principal activities are to acquire, explore and develop mineral property interests in the United States and Canada. The Group's principal mineral property interests are the Ivanhoe property located in Nevada, the United States of America and the Burnstone Gold property located in the Republic of South Africa. The Group acquired Southgold Exploration (Proprietary) Limited and Burnstone Gold Property in Feb 2004.

Price action broke out of a bullish pennant formation on heavy volume. TA would anticipate PPS to remain bullish in the coming weeks.

Great Basin Gold Ltd.: Bonanza Grades Intersected Underground at Hollister Development Block Project in Nevada
12/12/2005 1:09:01 PM

   VANCOUVER, British Columbia, Dec 12, 2005 (BUSINESS WIRE) -- Great Basin Gold Ltd. (CA:GBG)(GBN) announces that underground development has encountered the high-grade gold and silver vein systems at the Hollister Development Block (HDB) Project at the Ivanhoe Property, located on the Carlin Trend, about 75 km northwest of Elko. Excellent gold and silver values over substantial widths, including 8.2 feet grading 3.17 ounces per ton (oz/t) gold and 28.3 oz/t silver and 15.3 feet grading 0.49 oz/t gold and 7.9 oz/t silver, were reported from sampling of the Gwenivere vein system - one of three main high-grade gold-silver vein systems in the HDB Project area.

The Gwenivere vein system was intersected by the access decline about 2,720 feet from the portal. The decline is part of a two phase underground exploration and development program designed to take the HDB project through feasibility and potentially to commercial production. The program consists of about 5,600 feet of decline and underground development to access the two vein systems, including associated cross-cuts and diamond drill stations. Mining of approximately 5,000 tons of bulk sample from the different veins within the system is planned, along with an estimated 55,000 feet of diamond drilling from underground locations. The program is operated by an affiliate of Hecla Mining Company (together "Hecla") under an earn-in agreement. Definition drilling, which is required to elevate resources to reserves, is expected to begin in the first quarter of 2006, leading to the completion of a feasibility study later in the year.

Results are summarized below. These values are the weighted average of two channel samples collected at chest and knee height on either side of the 14-foot wide decline. Full results are included in the attached table of assay results.

--------------------------------------------------------------
                              Width    Gold (Au)   Silver (Ag)
                              (feet)       oz/t          oz/t
--------------------------------------------------------------
WEST RIB
--------------------------------------------------------------
Breccia                          2.0        0.53           9.8
--------------------------------------------------------------
Quartz vein & breccia            3.3        7.47          50.0
--------------------------------------------------------------
Breccia                          2.9        0.16          16.8
--------------------------------------------------------------
Entire length                    8.2        3.17          28.3
--------------------------------------------------------------
EAST RIB
--------------------------------------------------------------
Breccia                          3.7        0.09           1.5
--------------------------------------------------------------
Banded quartz vein               8.9        0.77          9.94
--------------------------------------------------------------
Breccia                          2.6        0.12          10.0
--------------------------------------------------------------
Entire length                   15.2        0.49           7.9
--------------------------------------------------------------


The Clementine, Gwenivere and South Gwenivere vein systems were discovered by Great Basin through extensive drilling programs in the HDB Project area from 1998-2001. The nearest hole drilled from surface - IH-059 - intersected 5.4 feet grading 0.51 oz/t Au and 53.3 oz/t Ag.

Development of the HDB is the subject of an August 2002, four year Earn-in Agreement between Great Basin and its subsidiary and Hecla, whereby Hecla has the right to earn a 50% interest in the HDB and thereupon form a joint venture. To earn-in to a 50% joint venture interest, Hecla, must complete an agreed first stage program consisting of an initial phase of underground access development, detailed drilling for reserve definition, bulk sampling and completion of a feasibility study and thereafter, subject to completion of the first stage, Hecla must then either timely complete a second phase of development work or take the project to commercial production. Alternatively, subject to completing Stage one, Hecla may timely make a payment to the Hecla/Great Basin joint venture (50:50) of the difference between $21.8 million and the actual costs of stage one (excluding stage one cost overruns in excess of 10%) certain share purchase warrants would also be exchanged between Great Basin and Hecla. Hecla has filed a court application seeking an extension of time to complete its earn-in requirements.

Samples collected from the project are stored in a secured facility until delivered by Hecla personnel to American Assay Laboratories (AAL) in Sparks, Nevada. Sample preparation consists of drying and jaw-crushing the entire sample to 70% passing 10-mesh, taking a 300 g sub-sample using a Jones splitter, and then pulverizing the sub-sample to 120-mesh using a vertical spindle pulverizer. Gold and silver determinations are by 2 assay-ton (60 g) fire assays and gravimetric finish. Laboratory QA/QC is monitored using Hecla coarse reject blanks, Hecla assay standards, duplicate fire assays as well as AAL's internal standards and blanks. Two coarse reject "blanks" (quartz vein material assaying nil-0.1 Au oz/t), and the assay standards are inserted by Hecla into the sample sequence as blind samples prior to delivery of the samples to the laboratory. AAL inserts one assay standard and one assay blank into the sample stream. Two of Hecla's sample pulps, chosen at random by AAL, are assayed in duplicate. QA/QC results were within acceptable limits.

Dave Copeland, PEng., a qualified person and Director of Great Basin, is monitoring the program on behalf of the Company, and has reviewed this news release.

Great Basin is a mining exploration and development company with advanced stage gold assets on the Carlin Trend in Nevada, USA, and the Witwatersrand Goldfield in South Africa. In addition to the underground program at the Hollister Development Block Project, a feasibility study of the Company's Burnstone Gold Project in South Africa is nearing completion. For additional details on Great Basin and its gold properties, please visit the Company's website at www.greatbasingold.com.

-fousc

[fous]

Slowly but surely

[shipman]

gimme a longer term chart next post.

[fous]

GBN forming a nice looking ascending triangle here. Great entry point would be a break of the 1.95 neckline

-fous

[metro]

Others in sector with similar c/h patterns

MMK
NTO
USGL
AUY

also MDM made a hammer at the 50-day so worth watching

and AGT basing jsut under 0.67

[fous]

Keeping my eye on GBN for the next weeks, Im buying on a breakout of the 1.95 neckline for the ascending triangle. Or if price action retraces and looks to be bouncing off support in the 1.70-1.80 i will buy off support in anticipation of the breakout. Whichever comes first.

-fous

[fous]

GBN breaking out of its ascending triangle. I filled a position moments ago at 2.00.

good luck!

-fous

[mexirafa]

Nice pick fous ! Applaud!

I just joined in.

do you have a target for it? is 2.90 reasonable? Theres that 2.29 resistance that can keep it down for a while.

thanks
rafael

[ScottishTrader]

Good call Fous - just noticed this one myself this morning - have had it on my radar for a while.  Huge volume yesterday should set it up for continuation.  Gotta get me some!!!

[ScottishTrader]

In at 2.12 today - higher than I would have liked, but it just keeps going up and up!!

Anyone know why this is moving, or is it purely technical - haven't been able to find out any info so far...

[fous]

Anyone know why this is moving, or is it purely technical - haven't been able to find out any info so far...

For me this is purley a technical play scottish, I havnt looked into the fundamentals but its in a bullish industry. G took a look at it in the G-TA board and said technically it looked good but had no fundamental back up.

We had a great rally on friday with heavy volume. Lookin to be a perfect breakout.I have set my stop loss at your entry point of 2.12 wich is the middle of the white marubozu candle. Profit target is set at 2.44.

-fous

[fous]

I had my stop set at 2.12 and yesterday closed at 2.11. Though i decided that i would hang on. Price action held up just a penny below support and formed a doji star, Implicating a reversal which indeed we had today creating a morning doji star candle formation. Target for profits set at 2.44.

-fous

Morning Doji Star

Significance: bullish

Indication: reversal

# of candles: 3

Previous Trend: Bearish

The Morning Doji Star pattern is characterizes by 3 candles. The fisrt day is a long black candle reinforcing the already bearish downtrend. The second is gaps down and forms a doji candle, indicating confusion in the market and a reversal could be upon us. And finally the 3rd day forms a white candle whose closing price pushes well into the real body of the first black day that occurred in this pattern. A gap up on the 3rd day is preferred for an ideal bullish Morning Star pattern though is not required. Confirmation of this pattern is provided by a higher close on the 4th day.

Note: Candlestick reversal patterns are significantly more potent when occuring near areas of support and resistence.

[setravis]

Strong management and resource development.......Doing all the right things.
GBN has done a picture perfect job of developing their properties,
I think things are about to heat up for the remainder of this year.
This stock is in such great shape for a buy right now...JMHO of course...

52wk Range: 1.25 - 2.51
Volume: 1,005,000
Avg Vol (3m): 312,289

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
15.37%above 13-day MA
21.30%above 50-day MA
RS Rating: 96 

Fundamentals
Key Data:
Market Cap (M): $97.73 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

[setravis]

I love this stock and I think it's going to $4+


52wk Range: 1.82 - 3.66
Volume: 1,734,766
Avg Vol (3m): 630,474

Technicals
Percentage Gainer

Last Price Quote is:
11.45%above 13-day MA
18.27%above 50-day MA
RS Rating: 96 

Fundamentals
Key Data:
Market Cap (M): $97.73 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Hold