VENEZUELA Toronto-based BOLIVAR GOLD has announced a 62% increase in measured and indicated gold resources and a 85% expansion to the capacity of the mill under construction at its $38.6-million Choco 10 property.
The revised measured and indicated resource estimate, based on drill holes completed through last April, now stands at 31.75 million tonnes at a grade of 1.7 g/t Au (containing 1.7 million oz). This mineralization is located within or next to the planned open pit. Bolivar Gold also said it has drilled a new discovery, between the Karolina and Villa Balazo finds, which included a core sample grading 16.3 g/t Au over 10.3 metres.
The planned mill had a designed capacity of 5,400 tonnes/day. The expanded one will treat 10,000 tonnes/day. The larger mill will pour 175,000 oz of gold annually.
More about the Choco 10 development an its history is posted at www.BolivarGold.com.