Gold Reserve passes audit

A study by Behre Dolbear has concluded that data collection procedures used by Gold Reserve (glr-t) at its Brisas gold deposit in southeastern Venezuela meet or exceed accepted industry standards.

Other conclusions are that assay laboratories used by the company have provided reliable and acceptable results and that its drill results are applicable to resource and reserve calculations.

The resource for the wholly owned deposit is about 258 million tonnes, at slightly below 1 gram gold per tonne. When copper credits are added, the gold-equivalent grade increases to 1.2 grams. The 7-million-oz. gold resource is predominantly sulphide and would have to be milled.

Gold Reserve has engaged JE MinCorp to prepare the feasibility study for Brisas.

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