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Gold Reserve confirms receipt of Permit to Occupy for Choco 5
Gold Reserve confirms receipt of Permit to Occupy for Choco 5.
About this update from Gold Reserve Ltd.
[{"type":"text","content":"\n\n\n\n\nSPOKANE, WA, July 15 /CNW/ - Gold Reserve Inc. (TSX: GRZ - AMEX: GRZ)\nannounced today it has received the Permit to Occupy the Territory from the\nMinistry of Environment and Natural Resources (\"MARNR\") for its Choco 5\nproperty located in Venezuela's El Callao mining district. The Company expects\nto receive the Permit to Affect Natural Resources next week allowing\ncommencement of an exploration program on the property.\nAn exploration Environmental and Socio-Cultural Impact Study (EScIS),\nwhich is a new requirement under the 1999 Venezuela Constitution, was\nsubmitted in May 2005 to the regional office of MARNR and approved this week.\nBy granting the Permit to Occupy, MARNR ratified the mining use of the area\ngranted as a concession by the Ministry of Basic Industries and Mines,\nestablishing at the same time a baseline environmental condition. The final\npermit, the Permit to Affect Natural Resources for exploration purposes, is\nthe permit required to conduct exploration activities under the Venezuelan\nenvironmental laws and regulations and this is expected to be received next\nweek.\nChoco 5 is a 5,000 hectare concession located in the western end of the\nEl Callao mining district. Choco 5 is contiguous and adjacent to the Bolivar\nGold Corp. (BGC-TSX) Choco 4 and 10 properties and is also adjacent to the\nGold Fields Limited (GFI-NYSE)/Bolivar Gold Joint Venture properties Choco 9\nto the south and Choco 6 to the west. Based on geochemistry and the drilling\nresults on these adjacent properties, management has identified a number of\ndrill targets on the Choco 5 property.\nDoug Belanger, President of Gold Reserve, stated, \"We are enthused about\nreceiving the permits to commence exploration on Choco 5, a property located\nin what I believe is one of the more exciting mining exploration districts in\nLatin America. Gold has been produced in the El Callao district for many years\nand is an area with considerable mining and exploration activity.\"\nMore information on Choco 5 will be posted on the Company website at\nwww.goldreserveinc.com. Both permits will be posted on the website as well.\nGold Reserve Inc. is a Canadian company which has the Choco 5 gold\nexploration property and the Brisas gold/copper project in southeastern\nVenezuela. The Brisas project has 10.1 million ounces of gold and 1.29 billio...