Eldorado Gold Corporation has reported an 11 percent increase in mineable reserves at its Kisladag Gold Project located in western Turkey, increasing the reserves to 5.1 million ounces.
The increase of 521,000 ounces of gold is derived from additional drilling subsequent to the completion of the Kisladag Feasibility Study resource estimate. A total of 7,057 meters of reverse circulation drilling has been completed on the Project in 2003, increasing the total drilling to 37,190 meters. This program succeeded in upgrading inferred resources within and peripheral to the Feasibility pit design.
Revisions to the Kisladag pit design have resulted in an increase in overall tonnage of 17 percent. The larger pit extends 20 meters deeper and further to the east-northeast. Inferred ore within the pit has been significantly reduced to less than 1.0 million tons, contributing to a reduced waste/ore strip ratio.
Eldorado is a gold producing and exploration company with gold assets in Brazil and Turkey. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
