November 11, 1997 in Nation/World

Gold Reserve Corp. Has Venezuela Find

From Staff And Wire Reports
 

Spokane’s Gold Reserve Corp. has identified a zone of copper and gold mineralization directly below the center of the main Brisas gold-copper zone in southeastern Venezuela.

The new zone has a strike length of 400 meters and is 50 to 70 meters thick, the company said. It is characterized as having low gold grades, but the copper grades are more than twice the average found in the Brisas deposit.

Gold Reserve estimates the deep copper zone, if proven, could add up to two years to the life of the mine. Further drilling will be conducted prior to completion of a final feasibility study.

The Brisas deposit is estimated by the company to contain 7.3 million ounces of gold and 950 million ounces of copper, making it one of the largest undeveloped gold deposits in the world.

, DataTimes


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