New calculations by Gold Reserve (TSE) have increased the estimated gold resource at the Brisas concession in the Kilometre 88 region of southern Venezuela.
The estimate jumped to 4.1 million from 3.6 million oz.
The increase stems from drilling on the Laguna Donna zone, in the central part of the Brisas concession, and south of the main zone, known as Pozo Azul. The Laguna Donna contains 16.1 million tonnes grading 0.98 grams gold per tonne, with minimal copper values.
The overall resource stands at 138 million tonnes of 0.93 grams gold per tonne and 0.21% copper, but does not include mineralization below 210 metres or the southern part of the concession area.
Gold Reserve President Rockne Timm believes the Laguna Donna is an extension of the Pozo Azul zone, and infill drilling is ongoing.
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