Russian Agapov begins work on three-kilometer ramp to build two-kilometer tunnels in search for gold

VHeadline Venezuela News reports: El Diario de Guayana correspondent Isidro Casanova writes in today's (Monday) editions that work has begun on constructing a ramp at the MS Gold mine at San Rafael de La Camorra, Sifontes municipality, seven kilometers from Hecla's site in southern Bolivar State.

Reporter Casanova visited the workings as guest of the Russian Agapov Group's Latin American representative, Vladimir Korneev and general manager, engineer Jose Manuel Rodriguez to see progress on the wide ramp already to a depth of 139 meters, that will eventually go down almost three kilometers, leading to tunnels ... one of which will be two thousand meters long.

Agapov has been allocated several mines in Sifontes and El Callao and also in Kilometer 88 where it has a wider concession for exploration and exploitation of several kaolin deposits. They're planning to build burners at Matanzas in Puerto Ordaz where they will build another plant for kaolin manufacturing to fulfill great demand for various uses in industry.

At La Camorra, 300 meters down, they're excavating the first 40 meters of a 2,000 meter tunnel that is 4.5 wide and 5 meters high on a 12% spiral shaped gradient which will allow vehicles to carry gold-bearing ore to the processing plant ... it is an open-cast pit so they will not need to use any lifts or elevators.

Although Agapov-Rusoro has not yet released any investment strategy, it has indicated that it could activate three blocs: 1. the Coolin company; 2, the MS Gold social-economic JV with Venezuela and 3. the PMG-Isidora mine in the first sector of El Choco and another in the Chile and Peru mines at El Callao.

MS Gold is in an exploration and expansion phase while PMG Isidora production remains to be determined after it was acquired by the Agapov-Rusoro and the Venezuelan government and plans are afoot to carry out joint industrial activities with Agapov-Rusoro's other development at the former Hecla site.

VHeadline Venezuela News
vheadline@gmail.com

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