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LOCATION .jpg)
The Choco 5 site is located in the historic El Callao mining district in Venezuela, approximately 180 km south of Puerto Ordaz. The Ministry of Basic Industry and Mines concession (owned by CVG Minerven) is under contract to Gold Reserve. The concession ownership will revert to Gold Reserve upon a production decision. The property is 5,000 hectares or 12,355 acres and measures over 7 km by 7 km. There is excellent infrastructure in the area with a paved road and electrical substation within a few kilometers. The Company has established an office in the town of El Callao and has staff currently conducting geochemical and geophysical prospecting on the property. The area is underlain by strongly folded, Lower Proterozoic metamorphosed volcanic rocks of the Guayana Shield greenstone belt. The El Callao area is host to several large gold deposits including Minerven’s Colombia Mine, the new Gold Fields Limited mine on Choco 10, directly to the east, and the Mina Isadora being developed by Hecla Mining Company. Also, Choco 5 is located to the east of Choco 6 and north of Choco 9. Currently, Gold Fields Limited is exploring and drilling Choco 9. Previous exploration work on Choco 5 includes regional air magnetic geophysical surveys (Map I), geologic mapping (Map II), stream sediment sampling, and soil geochemistry. In 2005 and 2006 Gold Reserve conducted comprehensive soil geochemistry work over the entire property, detailed ground geophysics, and limited diamond drilling over primary target areas located by previous work. Ongoing work in 2007 includes ground geophysics, detailed geochemical sampling, and diamond drilling on additional anomalies discovered in 2006. The Company has all the requisite permits to conduct this work including the Permit to Occupy and the Permit to Affect. Map I .jpg)
Map II 
Please see Permit To Affect
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