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Wednesday, 20th May 2009 (963 views)

Rusoro Mining has announced that it is planning to expand its operations at the Choco 10 project and the nearby Increible 6 gold deposit.

The company reported that a recent preliminary assessment of its operations by Micon International suggested that the potential exists to increase production of the precious metal to more than 500,000 ounces a year.

Rusoro stated that the results of the preliminary assessment are "highly encouraging" and the business "remains committed to bringing the project to feasibility" by the second quarter of 2010.

The mining firm added that estimated operating costs would be very low and a range of options for the site have been explored.

An expanded milling complex at the Choco 10 property could average 545,500 ounces of gold annually from 7.3 million tonnes of ore at an average grade of 2.58 g/t gold over a 12-year mine life.

Based in Vancouver, British Columbia, Rusoro Mining is a gold production, development and exploration company with properties in the Bolivar state region of Venezuela, including Choco 10 and the Isidora mine joint venture project.

 

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