JOHANNESBURG (miningweekly.com) – A feasibility study for a large expansion project at Canadian gold-miner Rusoro Mining’s Choco 10 mine and the nearby Increible 6 gold deposit, in Venezuela, will be completed in the first half of next year.

The study followed on a positive preliminary assessment (PA), which highlighted favourable economics for the expansion of the project from 170 000 oz/y of gold to 500 000 oz/y of gold, the company reported on Monday.

The study would be conducted by mining consultancy Micon International, which also undertook the PA.

Further, a prefeasibility study for the San Rafael–El Placer (SREP) project would be undertaken by engineering consulting firm Whillans Mine Studies and would also be completed by the first half of 2010.

The SREP project had a gold resource of 399 000 oz indicated and 523 000 oz inferred.

“Completion of these studies will be a strategic milestone in unlocking further value for the company and its shareholders at three of our key gold projects in Venezuela,” said Rusoro Mining president George Salamis.

Rusoro aims move the Choco 10 expansion to production by the end of 2012, Salamis had said previously.

The company bought the mine from Johannesburg-based Gold Fields in 2007.

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