Rusoro Mining Ltd.: Results Received from Underground Sampling at SREP Project
15 Abril 2010 - 11:07AM
Marketwired Canada
Rusoro Mining Ltd. ("Rusoro") (TSX VENTURE:RML) is pleased to report the results
from recent underground sampling completed on the main mineralized zone at the
San Rafael / El Placer (SREP) Project, located in the El Dorado District,
Bolivar State, Venezuela.
Rusoro completed the 1.5 kilometre underground ramp (4.5 metres wide by 5.0
metres high) in Q1 2010 to access the main (E3 and D) mineralized zones at SREP.
Detailed sampling is being completed on the primary structure as part of the
on-going exploration and verification program designed to validate the existing
resources and the current block model. Sampling completed between 18/03/2010 and
08/04/2010 on the -40m level (approximately 200m below surface) has confirmed
the width and grade of the main mineralized zone. Weighted averages and vein
results from recent samples include;
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Weighted Primary Vein Duplicate Vein
Date Location Average (1) Sample (2) Sample (3)
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9.26 g/t over 53.7 g/t over 10.77 g/t over
18/03/2010 -40E / 15.4m 2.80m 0.80m 0.80m
23.03 g/t over 64.07 g/t over 149.8 g/t over
24/03/2010 -40E / 18.1m 3.10m 0.60m 0.60m
2.08 g/t over 5.33 g/t over 7.05 g/t over
26/03/2010 -40E / 19.4m 2.95m 0.35m 0.35m
2.23 g/t over 2.82 g/t over 9.53 g/t over
29/03/2010 -40E / 20.8m 2.20m 0.52m 0.52m
14.24 g/t over 53.79 g/t over 94.61 g/t over
30/03/2010 -40E / 22.9m 2.19m 0.36m 0.36m
79.51 g/t over 590.1 g/t over 423.4 g/t over
05/04/2010 -40E / 29.0m 3.15m 0.40m 0.40m
34.26 g/t over 115.53 g/t over 148.44 g/t over
07/04/2010 -40E / 30.25m 3.27m 0.40m 0.40m
103.04 g/t over 487.30 g/t over 904.77 g/t over
08/04/2010 -40E / 32.0m 3.38m 0.43m 0.43m
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Notes;
1. Weighted averages calculated using results from all individual
mineralized samples (including quartz veins and alteration) from each
continuous chip sample section. High grade results calculated using
averaged results from all sets of primary and duplicate samples. All
widths are true widths. See table at end of news release for individual
sample results and descriptions.
2. Primary vein samples collected as part of main sample profile.
3. Duplicate vein samples collected one metre above primary sample.
Concurrently with the sampling program Rusoro's consultant, Whillans Mine
Studies Ltd., continues to advance the SREP Pre-feasibility study on schedule to
be completed within the next three weeks. The study is modeling the development,
mining and processing of mineralized material from the indicated resources
contained within the main E3 and D Zones.
Greg Smith, Rusoro's V.P. Exploration, commented that, "It is extremely positive
that the underground sampling completed to date confirms the results of our
drilling and the grades and widths estimated in our resource model. We will
continue to move forward with this verification work and the evaluation of the
SREP mineralized Zones."
The SREP Project currently has National Instrument 43-101 ("NI 43-101")
compliant resources of 399,000 oz Au indicated (639,000t @ 19.41g/t) and 523,500
oz Au Inferred (703,000t @ 23.16g/t). The SREP Resource Estimate uses a cut off
grade of 8.0 g/t Au, a minimum width of one metre, a specific gravity of 2.80
g/cm3, and capping of high grade gold assays at 80 g/t Au as detailed in a
report titled "Technical Report on the San Rafael-El Placer and Days Vein
Deposits, Bolivar State, Venezuela" dated October 2, 2008.
Sample analyses have been conducted at independent commercial facilities ActLabs
Lab in Tumeremo Venezuela, and Phoenix Labs located in El Callao Venezuela. All
sample analyses was completed using industry standard fire assay practices and
included a rigorous Quality Assurance / Quality Control (QA/QC) program
consisting of the insertion of standards, blanks and duplicate samples randomly
into the sample stream. Additionally secondary check samples were collected and
assayed on all vein intervals. A review of the QA/QC results shows no
significant bias and all results are considered highly reliable. Sample rejects
for all samples will continue to be stored in Rusoro's secure facilities in
Tumeremo, Venezuela, and will be available for any further testing which may be
required.
Qualified Person: Mr. Gregory Smith, P.Geo, the Vice-President Exploration of
Rusoro, is the Qualified Person as defined by NI 43-101, and is responsible for
the accuracy of the technical data and information contained in this news
release.
ON BEHALF OF THE BOARD OF RUSORO MINING LTD.
George Salamis, President
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information
presented constitutes "forward looking statements". Such forward-looking
statements, including but not limited to those with respect to the closing of
the offering, involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Rusoro to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among other risks, risks related to the closing of the offering, as well as
those factors discussed in the section entitled "Risk Factors" in Rusoro's
Annual Information Form dated December 12, 2008 as filed on SEDAR. Although
Rusoro has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Detailed Sample Results and Descriptions
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Width check
Section (m) Au g/t Au g/t Description
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-40E / 32.0m 0.44 3.27 Alt. zone + pyrite
0.63 1.13 Qtz. Vein w chlorite (VG)
0.20 22.97 14.63 Alt. zone + quartz vein
0.74 3.37 Alt. zone + pyrite
0.60 8.9 Qtz. Vein w chlorite
0.43 487.3 904.77 Qtz. Vein w chlorite
-40E / 30.25m 0.27 1.24 Alt. zone + pyrite
0.40 115.53 148.44 Qtz. Vein w chlorite (VG)
0.30 25.67 20.16 Alt. zone + quartz vein
0.82 5.88 Alt. zone + pyrite
0.36 70.79 144.72 Qtz. Vein w chlorite
0.80 11.35 8.09 Qtz. Vein w chlorite
0.32 1.95 Lapilli Tuff
-40E / 29.0m 0.30 6.63 Alt. zone
0.40 590.07 423.42 Qtz. Vein w chlorite (VG)
0.60 34.67 38.79 Qtz. Vein white
0.60 25.38 52.23 Qtz. Vein w chlorite
0.25 1.19 Alt. zone + quartz veinlets
1.00 0.16 Lapilli Tuff
-40E / 22.9m 0.25 3.19 Alt. zone
0.36 53.79 94.61 Qtz. Vein w chlorite (VG)
0.34 0.44 1.54 Qtz. Vein white
0.29 7.45 5.42 Qtz. Vein w chlorite
0.43 1.86 Alt. zone + quartz veinlets
0.52 0.69 Alt. zone
0.78 0.39 Lapilli Tuff
-40E / 20.8m 0.40 0.93 Alt. zone
0.52 2.82 9.53 Qtz. Vein w chlorite
0.50 0.83 Qtz. Vein white
0.48 1.78 Alt. zone + quartz veinlets
0.30 0.04 Alt. zone + quartz veinlets
0.78 0.04 Lapilli Tuff
-40E / 19.4m 0.40 6.59 3.48 Alt. zone w pyrite + qtz veinlets
0.30 4.31 3.27 Qtz. Vein w alt. zone
0.35 5.33 7.05 Qtz. Vein w alt. zone
0.20 0.52 Alt. zone w pyrite
0.40 0.14 Alt. zone + quartz veinlets
1.30 0.51 Alt. zone w pyrite
-40E / 18.1m 0.30 19.63 Alt. zone w pyrite + qtz veinlets
0.60 64.07 149.78 Qtz. Vein w chlorite
0.60 1.55 Alt. zone
0.80 0.45 Alt. zone w pyrite
0.80 0.09 Alt. zone + quartz veinlets
-40E / 15.44m 0.80 53.7 10.77 Qtz. Vein w Alt. Zone + pyrite
0.70 0.07 Alt. zone w pyrite
1.30 0.06 Alt. zone + quartz veinlets
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Abbreviations; quartz (Qtz), alteration (Alt), with (w), and (+),
visible gold (VG)
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