Increible 6
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The information on this website should be read in connection with Rusoro Mining's news release dated March 14, 2012 which addresses the Nationalization of Rusoro's Venezuelan mining assets by the Bolivarian Republic of Venezuela ("Venezuela") government and the subsequent news release dated August 22, 2016 announcing the award (the "Award") issued on August 22, 2016 by the Arbitration Tribunal ("Tribunal").
For a copy of the Award, please click here.
Increible 6
Located in the historic El Callao District within 6km of the Company's Choco 10 mine and mill facility, the Increible 6 has been the subject of 83,000m of drilling in 499 drill holes, since late 2004. The project has excellent access via well maintained roads from the town of El Callao and a current NI 43-101 compliant resource calculation sets the project at 1,587,000 ounces indicated and 1,100,000 ounces inferred. The project is currently awaiting final approval to be move forward into the Company's production profile. The Increible 6 will be included in the Feasibility Study being completed for production expansion at the Choco 10 mine and mill.
Micon International Ltd.has prepared the resource estimates for the Increible 6 deposits. This work was completed by Micon International in December 2007 and was based on a database imported into Gemcom software. Interpretations of the various lenses were prepared and digitized into the computer program. Grades and tonnages were estimated using a polygonal method of estimation because this methodology was considered most appropriate for the present drill spacing. A cut-off grade of 0.5 g/t Au and a minimum thickness of 1 m horizontal were applied. In areas where diamond drill intersections are dense enough, specific continuous lenses have been outlined. For the tonnage estimates, a specific gravity of 2.90 g/cm3 is used for fresh rock and a value of 2.41 was used for weathered rock. An examination of the statistics and frequency graphs for the deposits in the Increible 6 concession indicated that cutting to a level of 36 g/t Au was justified.
All zones are open to depth and only approximately 50% of the mineralized area has been drill tested to date. Additional drilling will be completed in 2010.
Concession GeologyThe Increible 6 Concession is underlain by, from oldest to youngest: metabasalt and andesite, carbonaceous siltstones with conglomerate, felsic volcanics, greywacke and siltstones, and quartz-porphyry. The metavolcanic (tuff) rocks are the most extensive. Gold mineralization is controlled by a combination of structure and quartz veining. The rocks have undergone several phases of deformation. Including two penetrative foliations with associated folding. Mapping shows a series of sub-parallel, shears within the volcanics which host the gold mineralization. Shears of this phase also cut the quartz-porphyry. Low-sulphide quartz-carbonate veins associated with the second phase deformation often carry the most significant economic gold concentrations. The alteration assemblage consists of; chlorite, sericite, quartz, carbonate , and pyrite.
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