VENEZUELA Based on the recommendation of Aker Kvaerner Metals, GOLD RESERVE has selected a 70,000-tonnes/day flotation plant as the most economical alternative for its Brisas copper/gold project in the Kilometre 88 Mining District. With mineral processing capacity at that rate, the project would produce 475,000 oz of gold and 27,215 tonnes of copper yearly.
This week the company increased its estimated the Brisas measured and indicated resources at 502.7 million tonnes grading 0.678 g/t Au and 0.126% Cu using a cut-off grade of 0.4 gold-equivalent. The inferred resource may be as much as another 126.5 million tonnes at 0.649 g/t Au an 0.133% Cu, using the same cut-off. The estimates were made by Pincock Allen & Holt.
Gold Reserve, which is headquartered in Spokane, Wash., expects to complete the bankable feasibility study and make a production decision by the end of the year. The results of metallurgical testing and engineering on the use of high-temperature pressure oxidation to produce gold dor and copper cathode from gold/copper flotation concentrate. Details are available at www.GoldReserveInc.com.