Crystallex drills at Lo Incredible

Gold exploration in Venezeula is a shadow of what it was in the late 1980s, but several juniors, including Crystallex International (KRY-T), remain active in the region.

Crystallex recently secured control of El Callao Mining‘s (ECM-V) Lo Increible project, plus related assets. Crystallex launched its takeover bid for El Callao, then held by Bema Gold, early this year. The deal was completed in April, giving Crystallex an 80% equity interest in El Callao.

Lo Increible consists of six deposits which are considered minable by open-pit methods. The project is near the Revemin gold mill, which Crystallex acquired last year, along with the Tomi project.

Drilling aimed at proving up reserves at Lo Increible is expected to continue, and a feasibility study will follow.