Gold Reserve Gains Ok For Brisas Mine

Gold Reserve Corp. of Spokane says it now has approval to mine gold, copper and molybdenum in its Brisas hardrock concession in Venezuela.

Spokane-based Gold Reserve announced that the Venezuelan ministry of energy and mines issued the approval, allowing a 20-year mining title. “We are pleased that this milestone has been achieved and we can continue development of our world-class gold and copper deposit,” Rockne J. Timm, Gold Reserve president and chief executive officer, said in a release.

During the past five years, Gold Reserve has invested $60 million in the property, which is expected to produce 7.3 million ounces of gold and 950 million ounces of copper.

, DataTimes