A new gold zone at Gold Reserve’s (GLR-T) Las Brisas concession in the Kilometre 88 region of Venezuela has increased the deposit’s resource estimate.
A third phase of infill drilling, on 50-metre spacings, on the Pozo Azul zone is complete, and results have identified a new structure southwest of that zone.
To date, 60,000 metres of drilling have been completed at Las Brisas, with another 20,000 metres planned before year-end.
A fourth rig has begun drilling, and will cover selected areas, including the Blue Whale horizon, on a 25-metre spacing.
As a result of data received from the third phase, Gold Reserve expects future increases in the resource figure. However, the newest resource estimate for the deposit only incorporates data from the second phase of infill drilling.
The results of the revised estimate amount to an increase of 300,000 oz.
gold.
The total resource stands at 183 million tonnes grading 0.87 gram gold per tonne (or 5.2 million oz.), plus 0.18% copper (726 million lb.).
About 90% of the resource is found at depths of less than 250 metres, which is the planned depth of the pit at the nearby Las Cristinas deposit, owned by Placer Dome (PDG-T). That deposit is 450 metres on strike from the southern limit of the designed pitwall.
Highlights from the third phase of infill drilling at Las Brisas are listed below:
| Hole | Interval(m) | Thickness(m) | Gold(g/t) |
| 316 | 54-57 | 3 | 24.22 |
| 57-99 | 42 | 1.81 | |
| 153-156 | 3 | 9.89 | |
| 207-255 | 48 | 1.49 | |
| 319 | 99-174 | 75 | 1.36 |
| 240-285 | 45 | 2.54 | |
| 320 | 48-99 | 51 | 4.16 |
| 322 | 117-135 | 18 | 4.85 |
| 323 | 96-129 | 33 | 1.91 |
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