Rusoro President, George Salamis, states that, 'The Company is very pleased that the overall resource reported in the technical report is more favorable than originally thought. This combined with both deposits being open from an exploration perspective makes both projects very exciting moving forward.' The Mineral Reserves were estimated using a cut-off grade based on actual operating costs from 2007 and were adjusted for production up to March 31, 2008. Total direct operating costs used are $308.98/t of diluted ore with an assumed gold price of $570/oz and a mill recovery of 94.4%. The Isidora Mine Resources were estimated by mine staff and confirmed by Micon as the independent QP. The estimates were completed using an 8 g/t Au cut-off, a cap of 200 g/t Au with densities of 2.68 for vein material and 2.88 for waste rock. The Twin Shear Resource was estimated by Scott Wilson RPA using a cut-off of 8 g/t Au and a grade cap of 50 g/t Au with a density of 2.7 used for all material. Mineral resource estimates which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. The quantity and grade of reported inferred resources in these estimates are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured category.
Thursday, August 7, 2008
Rusoro Mining Ltd.: 43-101 Report Filed for Isidora and Twin Shear Projects Acquired From Hecla Mining
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