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Friday, 23rd May 2008 (1411 views)

Rusoro Mining has issued a report on the status of its gold drilling operations completed in 2007 and the first quarter of 2008.

Overall, the company completed a total of 315,374 metres of drilling last year, most of which was focussed on the Choco Ten, Increible Six and SREP deposits.

"Significant" gold discoveries were recorded at all three projects, as well as the Valle Hondo property, the company added.

Results from these sites included gold grades of 71.25 g/t gold over three metres, 59.80 g/t gold over three metres, 48.84 g/t gold over four metres and 30.74 g/t gold over five metres.

Additional assays from the sites were graded at 14.10 g/t gold over 17 metres, 9.34 g/t gold over 37 metres and 8.44 g/t gold over 21 metres.

To follow up on these "excellent" results, Rusoro said it is planning further drilling at all four properties, with up to 300,000 metres scheduled to be completed in 2008.

Rusoro's operations are all located in Venezuela. Choco Ten is the company's flagship development, with 7.3 million ounces of gold discovered there to date. So far in 2008, the mine has produced 120,000 ounces of the precious metal.

 

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