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Gold Reserve Inc.
Summary
| Project: | Siembra Minera | |
|---|---|---|
| Deposit: | Siembra Minera | |
| Location: | Venezuela | |
| Commodities: | Gold-Copper-Silver | |
| Date: | 3/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-3-2018: Gold Reserve Inc. announces a PEA report for its Siembra Minera deposit at the Siembra Minera project. Updated mineral resources and PEA results incl. post-tax NPV (10%) of US$3.93B, IRR of 31.1% and 45yr LOM. Roscoe Postle Associates Inc. (RPA | |
| Resources: | (Resource): 1184Mt @ 0.7g/t Au, 0.10% Cu (M+I) & 1291Mt @ 0.61g/t Au, 0.08% Cu (Inf.) at project | |
| CP/QP: | [Resources]: José Texidor Carlsson (Not stated) | |
| ABSTRACT: | Roscoe Postle Associates Inc. (RPA) was retained by Gold Reserve Inc.(GRI), and its wholly owned subsidiary GR Engineering Barbados, Inc. (GRE) to prepare an independent Technical Report on the Siembra Minera Project (the Project), located in Bolivar State, Venezuela. The operating company Empresa Mixta Ecosocialista Siembra Minera, S.A. (Siembra Minera), which holds the rights to the Siembra Minera Project, is a mixed capital company with 55% being owned by a Venezuelan state entity [owned by the Bolivarian Republic of Venezuela through the Corporación Venezolana de Minería (CVM)] and 45% by GR Mining Barbados, Inc. (GRM), a wholly-owned subsidiary of GRI. GRE has been set up to perform engineering, procurement, construction, and operation of the Project. The Project is a combination of the Brisas and Cristinas properties into a single project now called the Siembra Minera Project. The purpose of this report is to provide GRI and GRE with an initial assessment of the Siembra Minera Project including a resource estimate, conceptual mine plan, and a preliminary economic review. This Technical Report conforms to NI 43-101 Standards of Disclosure for Mineral Projects. RPA visited the Project on September 19, 2017. | |
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