Projects
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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.
Gold Mining Projects
Rusoro has two mines in production and ten exploration projects (including development and exploration around the mines) which range from early stage to advanced/development stage gold projects in Venezuela. The Choco 10 and Isidora mines, near the town of El Callao, produced 150,000oz Au net to Rusoro in 2009 and total production guidance for 2010 is 110,000oz Au. Rusoro owns and operates the Choco Mill Facility and has a 95% ownership in the Choco 10 Mine. The Isidora Mine is a 50/50 joint venture with the Venezuelan Government. The Choco 10 operations are currently the subject of a Feasibility Study evaluating the viability of a significant production expansion to more than triple current production. The expansion plan will include the Increible 6 deposit located 6km from Choco 10. The Company also completed a scoping study and a 1.5km access ramp to the main mineralized zones at the SREP project for future mining operations.
Overall the Company has a significant land position in all of the major gold mining districts in Bolivar State, Venezuela. The country boasts first class geology and gold potential within an identical setting to some of the world's largest mining districts including Ashanti in West Africa and Kirkland Lake in Canada. Rusoro has developed and accumulated resources of more than 10.7 million ounces Au in the M&I categories and more than 6.8 million ounces Au in the inferred category, (please see individual projects pages for 43-101 compliant resource numbers), since 2002. As part of the Company's aggressive growth strategy, Rusoro drilled more than 400,000m since 2007 and will continue to have multiple drills active on its projects throughout 2010.
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