Rusoro Mining Ltd.
Rusoro Mining Ltd.

News Releases


Show printable version of 'Rusoro Drills 37m of 9.34g/t Au at Increible 6 All...' in a New Window

Rusoro Mining Ltd. Rusoro Mining Ltd.

Rusoro Mining News


 November 15, 2007
Rusoro Drills 37m of 9.34g/t Au at Increible 6 All Main Gold Zones Expanded

 
Vancouver, Canada - Rusoro Mining Ltd. is pleased to give an update on its progress at the Increible 6 project in Bolivar State, Venezuela. Highlights include:
  • Ongoing drilling continues to extend all of the main mineralized zones with the infill program continuing to confirm the continuity of their mineralization. There are >10,000 samples still at the lab from 2007 drilling for which results will be released as they become available.

  • An updated NI 43-101 estimate final report for the Increible 6 Project is currently being completed by Micon International and will be filed before November 25th, 2007.

  • The updated grade and tonnage numbers which show a significant increase in the NI 43-101 compliant gold resources at the Increible 6 were released October 11th, 2007 and are outline below. The cut off date for results to be included in this current estimate was June 11th, 2007.
            ----------------------------------------------------------
            Gold Resource          tonnes        Au g/t        Au (ozs)
            ----------------------------------------------------------
            inferred           17,530,000          1.95      1,100,000
            indicated          23,450,000          2.11      1,587,000
            ----------------------------------------------------------
  • In relation to the previous resource estimate which was prepared by Roscoe Postle Associates (RPA) in July of 2006 the Indicated resource estimate tonnes have increased by 398% from 4.71Mt to 23.45Mt, the grade has decreased 26% from 2.86g/t to 2.11 g/t with an increase in contained ounces of 266% from 434k to 1.59M ounces. The inferred resource has increased 88% in tonnes from 9.31Mt to 17.53Mt, decreased 24% in grade to 1.95 g/t from 2.56 g/t and increased by 44% in contained ounces from 756k ozs to 1.10M ozs.
Estimation parameters for updated 43-101 report by Micon International:
  1. Resources are NI 43-101 compliant and follow the definitions for inferred and indicated resource established by the CIM.
  2. Interpretation and modeling completed on 25 metres spaced cross sections and 20 metres spaced leveel plans using Gemcom software.
  3. Grade was interpolated using an inverse distance squared computation on two metre composites created using capped assays
  4. Cut off used of 0.5 g/t with SG values of 2.0 for saprolite and 2.7 for hardrock.
  5. Numbers may not add due to rounding.
Data acquisition and interpretation was completed under the direction of Gregory F. Smith, PGeo V.P. of Exploration for Rusoro. Resource estimation, using Gemcom software, was completed by independent consultant John Zbeetnoff P.Geo. A 43-101 compliant report is being prepared by John Zbeetnoff P.Geo., and Dave Laudrum P.Geo., of Micon International Ltd., and will be filed before November 25th.

The 2007 drilling campaign at Increible 6 has focused on using diamond drills to test the main zones (Culebra, Elisa, Olga and Cristina), on a 50m x 50m grid pattern with the RC rigs being used to complete "in-fill" holes to further reduce the hole spacing to 25m x 25m. This spacing will ultimately allow for all existing resources at the main zones to be converted to the Measured and Indicted categories.

At Culebra drilling continues to intersect a series of mineralized structures expanding the zone down dip and along strike, with visible gold being noted in several holes. Highlights of recent results include:
-----------------------------------------------------------------------
Drill Hole     Zone        type     Au g/t        m      from        to
-----------------------------------------------------------------------
-----------------------------------------------------------------------
IRS-189        Culebra     RC        9.342     37.0      31.0      68.0
IRS-212        Culebra     RC        2.670     57.0      19.0      76.0
IRS-267        Culebra     RC        2.096     41.0     155.0     196.0
IRS-214        Culebra     RC        1.459     51.0      84.0     135.0
IRS-193        Culebra     RC        2.488     27.0      29.0      56.0
IC-07-385      Culebra     ddh       2.206     26.0     211.0     237.0
-----------------------------------------------------------------------
NOTES:  1) All thicknesses are core widths / true widths estimated at 
           80-85%.
        2) All weighted averages calculated using uncut assays.
        3) Table of all new results included at the end of this news 
           release.
Recent drilling has also been successful in the area between the Elisa and Cristina zones where drilling has intersected similar silicified breccia mineralization to the two zones with several sections of visible gold encountered at its most shallow depth to date (130m). This appears to be the "up-dip" portion of the Footwall Zone and is a very positive discovery, as the location of this zone will likely have a positive effect on the stripping ratio of the Elisa Zone. Highlights of these results include:
-----------------------------------------------------------------------
Drill Hole     Zone        type     Au g/t        m      from        to
-----------------------------------------------------------------------
-----------------------------------------------------------------------
IRS-225        Elisa       RC        5.195     55.0      72.0     127.0
IRS-226        Elisa       RC        9.677     22.0     106.0     128.0
IRS-221        Elisa       RC        7.932     20.0      68.0      88.0
IRS-223        Elisa       RC        5.895     23.0      85.0     108.0
IRS-226        Elisa       RC        1.886     42.0      27.0      69.0
IRS-236        Elisa       RC        4.911     14.0     290.0     304.0
IRS-222        Elisa       RC        2.164     28.0      41.0      69.0
IRS-224        Elisa       RC        3.897     14.0      78.0      92.0
IRS-228        Elisa       RC        2.727     19.0     108.0     127.0
IRS-240        Cristina    RC        1.470     34.0      64.0      98.0
-----------------------------------------------------------------------
NOTES:  1) All thicknesses are core widths / true widths estimated at 
           80-85%.
        2) All weighted averages calculated using uncut assays.
As well, results from the drilling of a series of deeper holes (400 - 600m) at the western end of the Elisa zone, (away from Cristina), have expanded the western Footwall Zone with several intercepts again containing visible gold. Highlights of these results include:
-----------------------------------------------------------------------
Drill Hole     Zone        type     Au g/t        m      from        to
-----------------------------------------------------------------------
-----------------------------------------------------------------------
IC-07-400      Elisa       ddh       3.492     78.0     448.0     526.0
IC-07-372      Elisa       ddh       1.494     96.0     434.0     530.0
IC-07-380      Elisa       ddh       3.638     32.0     410.0     442.0
IC-07-372      Elisa       ddh       2.454     35.3     485.7     521.0
IC-07-366      Elisa       ddh       1.358     54.0     471.0     525.0
IC-07-411      Elisa       ddh       3.728     14.0     485.0     499.0
-----------------------------------------------------------------------
NOTES:  1) All thicknesses are core widths / true widths estimated at 
           80-85%.
        2) All weighted averages calculated using uncut assays.
The Company has now completed 107,500 metres of drilling since November 2006, completing its Phase II program on schedule. The total number of metres completed on the Project is now over 155,000 in 374 RC holes and 421 diamond drill holes. A phase III 50,000 metre program commenced in October 2007, keeping two diamond drill rigs on the project into 2008, with additional rigs available as needed.

Diamond drilling was conducted by Major Drilling of Moncton, New Brunswick, Canada and Core-Beil Drilling of Puerto Ordaz Venezuela. RC drilling was completed by AK Drilling of Peru. All drilling and drill sampling has been completed using industry standard practices. All drill core is described in detail and photographed and one half of the core remains for inspection and reference.

Sample analyses have been conducted at SGS labs of El Dorado and Triad Labs located in El Callao Venezuela with additional check assays completed at Actlab Facility in Toronto Canada. All sample analyses was completed using industry standard practices and standard samples, blanks and duplicate check samples were randomly inserted into the sample stream to ensure quality control. A review of the QA/QC results shows no significant bias and all results are considered highly reliable. Sample rejects for all drill samples are stored in Rusoro's secure facilities in Tumeremo, Venezuela, and will continue to be available for any further testing which may be required.

Qualified Person: Mr. Gregory Smith, P.Geo, the Vice-President Exploration of the Company, is the Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of this news release.

ON BEHALF OF THE BOARD

"George Salamis"

George Salamis, President

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
INCREIBLE 6 GOLD PROJECT - Additional Mineralized Intercepts - 15/11/2007

-----------------------------------------------------------------------
Drill Hole     Zone        type     Au g/t        m      from        to
-----------------------------------------------------------------------
-----------------------------------------------------------------------
IC-07-329      Olga        ddh       8.143     13.0     217.0     230.0
IC-07-329      Olga        ddh       1.410     41.0     341.0     382.0
IC-07-330      Olga        ddh       2.388      5.0       1.0       6.0
IC-07-331      Olga        ddh       1.056      5.0      24.0      29.0
IC-07-347      Olga        ddh       0.841      4.0      88.0      92.0
IC-07-347      Olga        ddh       1.280      2.0     200.0     202.0
IC-07-351      Culebra     ddh       2.664     11.0     127.0     138.0
IC-07-352      Culebra     ddh       0.613     11.5       0.5      12.0
IC-07-352      Culebra     ddh       1.453     29.0      35.0      64.0
IC-07-352      Culebra     ddh       0.822     10.0      71.0      81.0
IC-07-353      Culebra     ddh       1.027      3.0      21.0      24.0
IC-07-353      Culebra     ddh       2.288      4.0     109.0     113.0
IC-07-353      Culebra     ddh       0.872     11.0     122.0     133.0
IC-07-354      Culebra     ddh       0.728      5.0      23.0      28.0
IC-07-354      Culebra     ddh       6.064      5.0     132.0     137.0
IC-07-355      Culebra     ddh       1.568      4.0     218.0     222.0
IC-07-356      Culebra     ddh       0.739      4.0      69.0      73.0
IC-07-357      Culebra     ddh       0.800      3.0     175.0     178.0
IC-07-358      Culebra     ddh       1.898      2.0      80.0      82.0
IC-07-359      Elisa       ddh       1.650      2.0     554.0     556.0
IC-07-359      Elisa       ddh       1.980      2.0     560.0     562.0
IC-07-359      Elisa       ddh       0.764     20.0     574.0     594.0
IC-07-360      Culebra     ddh       2.310      3.0      55.0      58.0
IC-07-360      Culebra     ddh       1.180      3.0      75.0      78.0
IC-07-360      Culebra     ddh       3.190      2.0     117.0     119.0
IC-07-361      Culebra     ddh       4.585      2.0     135.0     137.0
IC-07-362      Culebra     ddh       0.492     13.0     171.0     184.0
IC-07-362      Culebra     ddh       1.633      3.0     203.0     206.0
IC-07-364      Culebra     ddh       0.428      5.0      96.0     101.0
IC-07-365      Culebra     ddh       1.395      2.0     144.0     146.0
IC-07-366      Elisa       ddh       4.077      3.0     321.0     324.0
IC-07-366      Elisa       ddh       1.170      2.0     457.0     459.0
IC-07-366      Elisa       ddh       1.358     54.0     471.0     525.0
IC-07-366      Elisa       ddh       1.223     15.0     545.0     560.0
IC-07-366      Elisa       ddh       2.880     15.0     568.0     583.0
IC-07-366      Elisa       ddh       0.622      5.0     595.0     600.0
IC-07-366      Elisa       ddh       1.722     19.0     622.0     641.0
IC-07-367      Culebra     ddh       0.997      4.0      14.0      18.0
IC-07-367      Culebra     ddh       1.525     23.0     143.0     166.0
IC-07-368      Culebra     ddh       0.857     48.0     146.0     194.0
IC-07-370      Culebra     ddh       0.842     14.0     152.0     166.0
IC-07-370      Culebra     ddh      14.467      2.0     203.0     205.0
IC-07-372      Elisa       ddh       1.494     96.0     434.0     530.0
IC-07-372      Elisa       ddh       1.085     25.0     434.0     459.0
IC-07-372      Elisa       ddh       2.946      7.0     464.0     471.0
IC-07-372      Elisa       ddh       2.454     35.3     485.7     521.0
IC-07-372      Elisa       ddh       1.286      4.0     526.0     530.0
IC-07-372      Elisa       ddh       2.801      5.0     547.0     552.0
IC-07-372      Elisa       ddh       5.287      4.0     566.0     570.0
IC-07-373      Culebra     ddh       0.443      6.0      75.0      81.0
IC-07-373      Culebra     ddh       2.334      8.0     140.0     148.0
IC-07-373      Culebra     ddh       1.183      2.0     207.0     209.0
IC-07-375      Cristina    ddh       0.619      4.0      39.0      43.0
IC-07-375      Cristina    ddh       3.665      7.0     139.0     146.0
IC-07-376      Cristina    ddh       2.465     13.0     165.0     178.0
IC-07-378      Culebra     ddh       1.265      8.0     109.0     117.0
IC-07-379      Culebra     ddh       4.222      4.0     134.0     138.0
IC-07-380      Elisa       ddh       3.638     32.0     410.0     442.0
IC-07-381      Culebra     ddh       2.095      2.0      59.0      61.0
IC-07-381      Culebra     ddh      14.910      2.0     256.0     258.0
IC-07-381      Culebra     ddh       5.934      2.0     286.0     288.0
IC-07-382      Cristina    ddh       1.690      8.0      22.0      30.0
IC-07-383      Cristina    ddh       2.310      3.0      60.0      63.0
IC-07-385      Culebra     ddh       2.206     26.0     211.0     237.0
IC-07-386      Cristina    ddh       1.408      6.0     248.0     254.0
IC-07-387      Elisa       ddh       0.572      6.0     131.0     137.0
IC-07-387      Elisa       ddh       4.196      2.0     317.0     319.0
IC-07-388      Cristina    ddh       1.338      2.0      15.0      17.0
IC-07-388      Cristina    ddh       4.116      2.0     121.0     123.0
IC-07-388      Cristina    ddh       6.376      5.5     204.5     210.0
IC-07-389      Culebra     ddh       1.319     25.4     203.6     229.0
IC-07-389      Culebra     ddh       2.576      2.0     313.0     315.0
IC-07-390      Cristina    ddh       5.866      5.0     195.0     200.0
IC-07-391      Cristina    ddh       0.764      6.0      30.0      36.0
IC-07-391      Cristina    ddh       1.758      2.0     115.0     117.0
IC-07-391      Cristina    ddh       1.793      2.0     211.0     213.0
IC-07-392      Elisa       ddh       1.117      6.0     485.0     491.0
IC-07-392      Elisa       ddh       5.534      2.0     512.0     514.0
IC-07-392      Elisa       ddh       1.322      7.0     530.0     537.0
IC-07-392      Elisa       ddh       0.530      4.0      545.0    549.0
IC-07-392      Elisa       ddh       1.218      2.0      555.0    557.0
IC-07-392      Elisa       ddh       0.417      9.0      561.0    570.0
IC-07-392      Elisa       ddh       0.638     20.0      580.0    600.0
IC-07-392      Elisa       ddh       2.482      9.0      635.0    644.0
IC-07-392      Elisa       ddh       1.400      3.0      652.0    655.0
IC-07-393      Culebra     ddh       2.046     15.0      195.0    210.0
IC-07-393      Culebra     ddh       3.624      4.0      215.0    219.0
IC-07-394      Cristina    ddh       0.589      8.0      228.0    236.0
IC-07-395      Culebra     ddh       1.018      2.0       33.0     35.0
IC-07-396      Cristina    ddh       1.678      2.0        9.0     11.0
IC-07-396      Cristina    ddh       0.706      3.0      140.0    143.0
IC-07-396      Cristina    ddh       0.595      4.0      151.0    155.0
IC-07-396      Cristina    ddh       1.779      4.0      221.0    225.0
IC-07-397      Culebra     ddh       1.171      2.0      168.0    170.0
IC-07-398      Cristina    ddh       0.906      3.0      252.0    255.0
IC-07-399      Culebra     ddh       0.767      3.0      182.0    185.0
IC-07-400      Elisa       ddh       0.956      3.0      305.0    308.0
IC-07-400      Elisa       ddh       0.852     10.0      409.0    419.0
IC-07-400      Elisa       ddh       3.492     78.0      448.0    526.0
IC-07-400      Elisa       ddh       1.808      2.0      539.0    541.0
IC-07-400      Elisa       ddh       2.659      3.0      549.0    552.0
IC-07-400      Elisa       ddh       0.426      8.0      611.0    619.0
IC-07-401      Cristina    ddh       1.107      2.0      238.0    240.0
IC-07-404      Culebra     ddh       1.232      7.0      234.0    241.0
IC-07-404      Culebra     ddh      16.254      2.0      257.0    259.0
IC-07-404      Culebra     ddh       1.768      2.0      289.0    291.0
IC-07-407      Culebra     ddh       1.331     17.0       17.0     34.0
IC-07-407      Culebra     ddh       4.589      4.0       64.0     68.0
IC-07-411      Elisa       ddh       3.728     14.0      485.0    499.0
IC-07-411      Elisa       ddh       0.679     15.0      567.0    582.0
IC-07-411      Elisa       ddh       0.639      4.0      608.0    612.0
IC-07-411      Elisa       ddh       1.071      3.0      640.0    643.0
IC-07-411      Elisa       ddh       1.016      4.0      663.0    667.0
IC-07-412      Cristina    ddh       0.788      7.0      103.0    110.0
IC-07-413      Cristina    ddh       2.876      4.0        0.0      4.0
IC-07-414      Cristina    ddh       0.860     12.0      154.0    166.0
IC-07-414      Cristina    ddh       2.395      2.0      180.0    182.0
IRS-189        Culebra     RC        9.342     37.0       31.0     68.0
IRS-190        Culebra     RC        1.066      3.0       16.0     19.0
IRS-190        Culebra     RC        4.931      7.0       37.0     44.0
IRS-192        Culebra     RC        1.123     28.0       67.0     95.0
IRS-193        Culebra     RC        2.230     10.0        0.0     10.0
IRS-193        Culebra     RC        2.488     27.0       29.0     56.0
IRS-194        Culebra     RC        0.447     13.0        1.0     14.0
IRS-194        Culebra     RC        4.159      7.0       32.0     39.0
IRS-194        Culebra     RC        2.402      4.0       56.0     60.0
IRS-195        Culebra     RC        0.427      7.0        0.0      7.0
IRS-199        Culebra     RC        0.662      6.0        9.0     15.0
IRS-201        Culebra     RC        1.015      4.0        0.0      4.0
IRS-202        Culebra     RC        0.504     29.0       49.0     78.0
IRS-207        Culebra     RC        1.289     25.0       37.0     62.0
IRS-208        Culebra     RC        1.254      5.0        0.0      5.0
IRS-209        Culebra     RC        0.603      4.0        0.0      4.0
IRS-209        Culebra     RC        1.264      2.0       29.0     31.0
IRS-211        Culebra     RC        1.080     29.0        0.0     29.0
IRS-211        Culebra     RC        2.113      6.0       61.0     67.0
IRS-212        Culebra     RC        2.670     57.0       19.0     76.0
IRS-212        Culebra     RC        1.380     14.0      142.0    156.0
IRS-213        Culebra     RC        1.122     36.0      107.0    143.0
IRS-213        Culebra     RC        0.574      5.0      152.0    157.0
IRS-213        Culebra     RC        0.980      3.0      164.0    167.0
IRS-213        Culebra     RC        1.084      3.0      186.0    189.0
IRS-214        Culebra     RC       24.414      6.0       64.0     70.0
IRS-214        Culebra     RC        1.459     51.0       84.0    135.0
IRS-214        Culebra     RC        1.910      4.0      147.0    151.0
IRS-218        Elisa       RC        0.700      3.0      219.0    222.0
IRS-218        Elisa       RC        0.803      3.0      251.0    254.0
IRS-218        Elisa       RC        0.898     50.0      262.0    312.0
IRS-218        Elisa       RC        2.316      5.0      323.0    328.0
IRS-220        Culebra     RC        0.748      5.0       13.0     18.0
IRS-220        Culebra     RC        0.895     43.0       96.0    139.0
IRS-220        Culebra     RC        0.966     24.0      149.0    173.0
IRS-221        Elisa       RC        1.222     14.0       47.0     61.0
IRS-221        Elisa       RC        7.932     20.0       68.0     88.0
IRS-222        Elisa       RC        2.164     28.0       41.0     69.0
IRS-223        Elisa       RC        5.895     23.0       85.0    108.0
IRS-224        Elisa       RC        3.897     14.0       78.0     92.0
IRS-225        Elisa       RC        5.195     55.0       72.0    127.0
IRS-226        Elisa       RC        1.886     42.0       27.0     69.0
IRS-226        Elisa       RC        9.677     22.0      106.0    128.0
IRS-227        Elisa       RC        1.420     15.0      117.0    132.0
IRS-227        Elisa       RC       7.232       2.0     141.0     143.0
IRS-228        Elisa       RC       2.727      19.0     108.0     127.0
IRS-230        Elisa       RC       1.965       8.0      14.0      22.0
IRS-230        Elisa       RC       1.655      18.0     131.0     149.0
IRS-231        Elisa       RC       0.868      23.0     137.0     160.0
IRS-234        Elisa       RC       1.899       9.0     210.0     219.0
IRS-235        Elisa       RC       1.386       8.0     249.0     257.0
IRS-236        Elisa       RC       4.911      14.0     290.0     304.0
IRS-236        Elisa       RC       1.236       4.0     345.0     349.0
IRS-238        Cristina    RC       3.737      10.0      61.0      71.0
IRS-239        Cristina    RC       1.724       9.0      68.0      77.0
IRS-239        Cristina    RC       2.950       3.0      96.0      99.0
IRS-240        Cristina    RC       1.470      34.0      64.0      98.0
IRS-241        Cristina    RC       0.787       3.0     146.0     149.0
IRS-242        Cristina    RC       1.126       2.0      87.0      89.0
IRS-243        Cristina    RC       1.594      17.0     131.0     148.0
IRS-244        Cristina    RC       1.107       7.0     125.0     132.0
IRS-246        Cristina    RC       2.186       8.0     166.0     174.0
IRS-247        Cristina    RC       0.712       3.0     184.0     187.0
IRS-248        Cristina    RC       2.009       2.0     189.0     191.0
IRS-248        Cristina    RC       5.235       4.0     206.0     210.0
IRS-249        Cristina    RC       0.525       9.0     137.0     146.0
IRS-249        Cristina    RC       1.100       2.0     203.0     205.0
IRS-249        Cristina    RC       1.744       2.0     214.0     216.0
IRS-249        Cristina    RC       1.690       2.0     269.0     271.0
IRS-252        Chiguire    RC       2.654       7.0      12.0      19.0
IRS-252        Chiguire    RC       1.102       6.0      49.0      55.0
IRS-256        Chiguire    RC       3.344       2.0     131.0     133.0
IRS-257        Chiguire    RC       0.663       8.0      58.0      66.0
IRS-265        Cristina    RC       2.961       6.0     116.0     122.0
IRS-265        Cristina    RC       0.612       5.0     128.0     133.0
IRS-266        Culebra     RC       0.728       3.0      85.0      88.0
IRS-266        Culebra     RC       0.527      14.0     164.0     178.0
IRS-266        Culebra     RC       8.665       2.0     244.0     246.0
IRS-267        Culebra     RC       2.096      41.0     155.0     196.0
-----------------------------------------------------------------------
NOTES:  1) All thicknesses are core widths / true widths estimated at 
           80-85%.
        2) All weighted averages calculated using uncut assays.
View News Release in PDF Format:
File: http://www.rusoro.com/i/pdf/2007-11-15_NR.pdf
 59 KB, approx. 12 seconds at 56.6Kbps
 
 

You can view the Next News Releases item: Mon Nov 26, 2007, Rusoro Initiates 50,000 Metre Drill Program at Valle Hondo

You can view the Previous News Releases item: Wed Oct 31, 2007, Financing Of $225 Million Closes

You can return to the main News Releases page, or press the Back button on your browser.

Rusoro Mining Ltd.
Home   Corporate   News   Projects   Investors   Contact Us   Disclaimer & Privacy Policy  
Adnet Communications Inc.