RUSORO MINING LTD.
355 Burrard Street, Suite 830
Vancouver, BC
V6C 2G8
Tel:
604-682-1545 Fax: 604-682-1514
In-Fill Diamond Drilling Confirms
Continuity of
High Grade Gold Zones at the SREP Project
April 30,
2007
Trading Symbol (TSX-V):RML
Vancouver, Canada – The Company is very pleased to
report that results for 32 holes of a 40 hole, 10,000 m
diamond drill program at
the San Rafael/El Placer Project (SREP) in southeastern Venezuela have been received.
This drilling was part of
an in-fill program designed by the Company’s engineering consultants,
Micon International,
to further test the
continuity of the main gold mineralized blocks.
Highlights:
Ø In-fill
drilling program has confirmed the existing interpretation with grades
consistent to previous drilling
(averaging 16 to 20 g/t Au), being encountered in all holes targeted at the
central portions of the interpreted ore blocks.
Ø Drilling
outlined a significant new gold mineralized structure 20 to 40 metres north of
the targeted blocks.
The Company will
immediately design a drill program to define the limits of this new zone both
in strike and to depth.
Ø
Based on the
highly positive nature of the in-fill drilling the Company plans to complete a
1.8 kilometre ramp which
will provide access to the main ore bodies 180 metres below surface. The
ramp will provide all of the necessary access
for future mining operations.
Detailed drilling and
underground sampling will continue to evaluate the potential economics of the
SREP zones. Preliminary
engineering including the
location, orientation, and angle of the ramp has been completed by Rusoro
staff. A mining contractor
has been hired who has
completed initial site visits and a review of the existing layout.
Equipment requirements have been
determined and their
purchase is underway.
The Company’s main
goal is to concurrently build this ramp and complete the underground
development at SREP, while continuing
the comprehensive
expansion and upgrade of the Company’s centrally located Emilia mill
facility. The Emilia Mill Facility project
is on schedule for
completion in Q4 2007 with the Company aiming to start commercial production in
early 2008.
Diamond drilling was
conducted by Major Drilling of Moncton,
New Brunswick, Canada.
All drilling and drill sampling have
been completed using
industry standard practices. All drill core is described in detail and
photographed and one half of the core
remains for inspection
and reference.
Sample analyses have been
conducted at SGS labs and Triad Labs located in El Dorado
and El Callao, Venezuela. All sample
analyses
were completed using
industry standard practices and standard samples, blanks and duplicate check
samples were randomly inserted
into the sample stream to
ensure quality control. A review of the QA/QC results shows no
significant bias and all results are considered
highly reliable.
Sample rejects for all drill samples are stored in Rusoro’s secure
facilities in Tumeremo, Venezuela, and will continue to
be available for any
further testing which may be required. All QA/QC is completed under the
direction of G.F. Smith, P.Geo.
Qualified Person: Mr. Gregory Smith, P.Geo, the
Vice-President Exploration of the Company, is the Qualified Person as defined
by
National Instrument
43-101, and is responsible for the accuracy of this news release.
ON BEHALF OF THE BOARD
“Mario Szotlender”
Mario Szotlender, President
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION :
Tel: 604-682-1545
Fax: 604-682-1514
Toll Free: 1-800-668-0091
Symbol: TSX-V:RML Email:
info@rusoro.com
Website: www.rusuro.com
|
Weighted
|
Average
|
|
|
Drill Hole
|
Au (g/t)
|
sample (m)
|
From (m)
|
To (m)
|
ED-07-540
|
4.44
|
1.0
|
174.0
|
175.0
|
ED-07-541
|
23.89
|
1.0
|
158.0
|
159.0
|
ED-07-542
|
9.25
|
2.0
|
107.0
|
109.0
|
ED-07-544
|
12.37
|
3.0
|
165.0
|
168.0
|
ED-07-545
|
4.36
|
3.0
|
276.0
|
279.0
|
ED-07-547
|
3.45
|
1.0
|
149.0
|
150.0
|
ED-07-548
|
3.04
|
3.0
|
217.0
|
220.0
|
and
|
7.67
|
1.0
|
247.0
|
248.0
|
ED-07-549
|
2.23
|
2.0
|
233.0
|
235.0
|
ED-07-550
|
11.44
|
3.0
|
340.0
|
343.0
|
ED-07-551
|
6.94
|
5.5
|
389.5
|
395.0
|
ED-07-552
|
12.40
|
2.0
|
364.4
|
366.4
|
ED-07-553
|
0.65
|
2.0
|
186.0
|
188.0
|
ED-07-554
|
7.12
|
2.0
|
225.0
|
227.0
|
ED-07-556
|
8.17
|
2.0
|
207.0
|
209.0
|
ED-07-557
|
0.73
|
3.0
|
334.0
|
337.0
|
ED-07-558
|
1.01
|
3.0
|
377.0
|
380.0
|
ED-07-559
|
1.16
|
5.0
|
421.0
|
426.0
|
ED-07-560
|
3.51
|
5.0
|
268.0
|
273.0
|
ED-07-650
|
3.08
|
2.0
|
143.0
|
145.0
|
ED-07-651
|
51.93
|
2.0
|
295.0
|
297.0
|
and
|
47.24
|
2.0
|
312.0
|
314.0
|
ED-07-652
|
3.78
|
2.0
|
109.0
|
111.0
|
ED-07-653
|
12.34
|
1.0
|
348.0
|
349.0
|
ED-07-657
|
7.53
|
1.0
|
228.0
|
229.0
|
ED-07-658
|
0.86
|
1.0
|
137.0
|
138.0
|
ED-07-661
|
1.56
|
6.0
|
405.0
|
411.0
|
ED-07-662
|
6.01
|
1.0
|
208.0
|
209.0
|
ED-07-665
|
3.78
|
2.0
|
150.0
|
152.0
|
ED-07-666
|
71.25
|
3.0
|
541.0
|
544.0
|
ED-07-667
|
0.78
|
2.0
|
154.0
|
156.0
|
ED-07-669
|
16.23
|
2.0
|
291.0
|
293.0
|
ED-07-670
|
12.33
|
3.0
|
312.0
|
315.0
|
ED-07-671
|
1.66
|
2.0
|
322.0
|
324.0
|
NOTES:
1) All thicknesses are core widths / true widths estimated at 70-80%.
2) All weighted averages calculated using uncut assays.