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Gold Reserve Inc. makes annual option payment to Soltoro Ltd. for the La Tortuga Copper Gold Project
SPOKANE, WA, May 1, 2013 /CNW/ - Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the "Company"...
About this update from Gold Reserve Ltd.
[{"type":"text","content":"\n\n\n\n\n\nSPOKANE, WA, May 1, 2013 /CNW/ - Gold Reserve Inc. (TSX.V:GRZ)\n (OTCQB:GDRZF) (the \"Company\") has paid Soltoro Ltd. (SOL:TSX.V) a\n scheduled option payment of US $125,000.  Gold Reserve has the right to\n earn an undivided 51% interest in the La Tortuga property located in\n Jalisco State, Mexico.\n\n\nLa Tortuga, a copper and gold prospect, is an 11,562 hectare property\n being investigated for its base and precious metal potential with\n occurrences of copper and gold mineralization over 49 square\n kilometers. Potential deposit types include iron oxide copper gold\n deposits (IOCG), copper porphyries, and epithermal gold and/or base\n metal veining. Previous work includes 151 line-kilometers of induced\n polarization, 20 drill holes (both diamond core and reverse\n circulation), mapping and sampling (approximately 1,000 soil, rock chip\n and stream sediment samples), and a ground magnetic survey.\n\n\nGold Reserve's 2013 exploration program, which includes airborne\n geophysics and drilling, is well under way.  Ground based mapping,\n sampling, geochemical studies, and geophysical analyses have been\n conducted on the property and these activities, along with about 22 km\n of road upgrading, support a 7000 to 12000 meter drill program planned\n for 2013.  This program tests four known mineralized targets (Las\n Garrochas, Caballo Vein, Quartz Breccia Vein, and Oro East) along\n projected trends of mineralized structures identified by past surface\n exploration and drilling activities.  The airborne magnetic study will\n be used to determine extensions or additional targets to be followed up\n by ground magnetics and/or gravity surveys.  Additional drilling could\n also be initiated on any new targets generated by this and other\n exploration work this year. The Company has also commenced the\n environmental baseline studies required for exploration permitting, as\n well as future development and has also begun social program works.\n Contact has been initiated with the local community and baseline work\n started for social impact studies, which forms the basis of a\n comprehensive social impact and mitigation plan for any future\n development.\n\n\nFurther information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov and www.sedar.com. \n\n\nCAUTIONARY ST...