Brisas selects 70,000 TPD plant for completion of the feasibility study
7/8/04
SPOKANE, WA, Jul 08, 2004 (Canada NewsWire via COMTEX) --
Gold Reserve Inc. (TSX: GRZ - AMEX:GRZ) reported today it has selected a 70,000 tonne per day conventional flotation plant as the basis for completion of the Brisas bankable feasibility study being conducted by Aker Kvaerner Metals Inc. The Company plans to produce gold dore on-site and ship copper concentrates to an off-site smelter.
To date, Aker Kvaerner has conducted several trade-off studies including different processing options and plant throughputs before recommending the 70,000 tonne per day flotation plant as the optimum alternative. At 70,000 tonnes per day, Brisas is estimated to produce approximately 475,000 ounces of gold and 60 million pounds of copper per year. Gold Reserve expects to complete the bankable feasibility study and make a production decision by the end of the year.
Concurrent with the completion of the feasibility study, the Company will complete the metallurgical testing and engineering on the high temperature pressure oxidation of the gold-copper concentrates to produce gold dore and copper cathode on-site.
Doug Belanger, President, stated, "The selection of a larger conventional flotation plant for Brisas should result in maximum benefits from economies of scale and capitalize on the substantial changes in the copper market, including the increase in the price of copper and the lower copper smelter charges. The combination of the larger throughput and the selection of well established proven technology should place Gold Reserve in the top tier of the intermediate gold producers."
Information regarding Gold Reserve Inc. is located at www.goldreserveinc.com
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: www.newswire.ca/en/releases/orgDisplay.cgi?okey=48433
For further information: Internet - www.goldreserveinc.com; A. Douglas Belanger, President, 926 W. Sprague Ave., Suite 200, Spokane, WA, 99201, USA, Tel. (509) 623-1500, Fax (509) 623-1634
News release via Canada NewsWire, Toronto 416-863-9350
Copyright (C) 2004 CNW, All rights reserved
hxxp://www.stockhouse.ca/news/news.asp?newsid=2359272&tick=GRZ
7/8/04
SPOKANE, WA, Jul 08, 2004 (Canada NewsWire via COMTEX) --
Gold Reserve Inc. (TSX: GRZ - AMEX:GRZ) reported today it has selected a 70,000 tonne per day conventional flotation plant as the basis for completion of the Brisas bankable feasibility study being conducted by Aker Kvaerner Metals Inc. The Company plans to produce gold dore on-site and ship copper concentrates to an off-site smelter.
To date, Aker Kvaerner has conducted several trade-off studies including different processing options and plant throughputs before recommending the 70,000 tonne per day flotation plant as the optimum alternative. At 70,000 tonnes per day, Brisas is estimated to produce approximately 475,000 ounces of gold and 60 million pounds of copper per year. Gold Reserve expects to complete the bankable feasibility study and make a production decision by the end of the year.
Concurrent with the completion of the feasibility study, the Company will complete the metallurgical testing and engineering on the high temperature pressure oxidation of the gold-copper concentrates to produce gold dore and copper cathode on-site.
Doug Belanger, President, stated, "The selection of a larger conventional flotation plant for Brisas should result in maximum benefits from economies of scale and capitalize on the substantial changes in the copper market, including the increase in the price of copper and the lower copper smelter charges. The combination of the larger throughput and the selection of well established proven technology should place Gold Reserve in the top tier of the intermediate gold producers."
Information regarding Gold Reserve Inc. is located at www.goldreserveinc.com
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: www.newswire.ca/en/releases/orgDisplay.cgi?okey=48433
For further information: Internet - www.goldreserveinc.com; A. Douglas Belanger, President, 926 W. Sprague Ave., Suite 200, Spokane, WA, 99201, USA, Tel. (509) 623-1500, Fax (509) 623-1634
News release via Canada NewsWire, Toronto 416-863-9350
Copyright (C) 2004 CNW, All rights reserved
hxxp://www.stockhouse.ca/news/news.asp?newsid=2359272&tick=GRZ