1 km SSW of El Callao
February 23, 2009
Rusoro Mining Ltd. is pleased to report that gold production and cash costs remained strong at the Choco 10 Mill for the month of January 2009. The company is encouraged with the much improved performance at the Choco 10 mill over the past five months and looks forward to this operational trend continuing and to meeting its targets for 2009. Group-wide, Rusoro produced 14,835 oz Au in January (a record), compared to the 14,261 oz Au produced in December 2008 and 38,868 oz Au produced for Q4 2008. January 2009’s production was up by 75% over the same month (January) 2008. cash costs, on a combined basis, in January 2009 were US$315/oz (unaudited), down from December’s all-time low of US$347/oz, or US$358/oz for Q4 2008 (unaudited). Management believes there is further scope to reduce costs at all operations. San Rafael/El Placer on schedule to begin commercial gold production in Q1, 2010.
September 5, 2008
A series of contracts will allow Rusoro to process ore at Choco 10 for MINERVEN operations. The ore will include sands, tailings and other sources being evaluated from their various operations. The contracts have established that 2,000,000 tonnes of gold bearing tailings and sands are available from MINERVEN for contract milling.
In 2007, exploration drilling at and adjacent to the Isidora mine was successful in outlining several new potential zones of economic mineralization. A possible down plunge extension of the S vein was discovered returning 0.75 ounces of gold per ton over 10.5 feet. This intersection is located approximately 328 feet below the currently defined resource block. A new parallel vein/shear was discovered approximately 1,300 feet to the west of the Isidora Mine and 160 feet north in the footwall of the S Vein. The uppermost part of this structure returned low gold values. However, at a depth of 820 feet, three potentially economic intercepts were returned over a strike
length of 738 feet. Values of 0.61 ounces per ton over a width of 5.02 feet, 1.28 ounces per ton over 6.59 feet and 2.56 ounces per ton over 1.73 feet were returned.
Exploration work on the Block B concessions has included geologic mapping, geophysical surveying, geochemical sampling and 160,000 feet of exploration diamond drilling. This work led to the discovery of two mineralized zones, the Twin and Conductora mineralized zones, located approximately one-kilometer northeast of the Mina Isidora orebody.
August 1, 2008
As of Aug/08, Hecla’s in-house evaluations of other exploration targets (i.e., Chile East and Canaíma) indicated that the mineralization did not have reasonable prospects for economic extraction, given the parameters used at the time of the evaluations.