VANCOUVER, BRITISH COLUMBIA 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 greater than 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 2.86 g/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:
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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, President
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.
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
Contacts: Rusoro Mining Ltd. George Salamis President (604)
632-4044 (604) 632-4045 (FAX) Website: www.rusoro.com
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