The first phase of infill drilling at the Brisas concession in the Kilometre 88 region of Venezuela has translated into an increase in copper-gold resources for Gold Reserve (TSE).
The company, drilling at 50-metre intervals, has confirmed the continuity of mineralization on the Pozo Azul zone. The resource now stands at 177 million tonnes grading 0.85 gram gold per tonne and 0.18% copper, equivalent to 4.9 million oz. gold and 720 million lb. copper (or 6.7 million oz. gold-equivalent).
The second and third phases of drilling are to be completed by May. The company also plans infill drilling at 25-metre intervals on selected parts of the area, including the Blue Whale structure.
Conventional milling methods, according to metallurgical testing, have the potential to recover more than 90% of the copper and gold. These data will be used to prepare a feasibility study for the deposit, and the company plans to examine other exploration targets on the property during the second half of the year.
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