Bolivar Goldfields plans drilling in Venezuela

Exploration is under way on four concessions held by Bolivar Goldfields (VSE) in southeastern Venezuela.

The junior holds one of the largest land positions in the country’s Guyana Shield, encompassing concessions in El Callao, Chicanan and Marwani districts. Eight geologists and up to 70 support personnel are involved in the exploration.

Encouraging values were reported from trenching on concessions in El Callao district of Bolivar state. These include the McKenzie prospect, where values up to 10.8 grams gold per tonne were obtained over 45 metres. A further 200 metres of trenching are planned for this year, in order to provide a basis for drill testing early next year.

Anomalies and prospects have been identified on concessions in Chicanan and Marwani districts, and trenching is planned for early 1994.

Bolivar Goldfields is negotiating to acquire two further acquisitions, totaling 11,500 hectares, in Bolivar state. The negotiations are advanced and details are expected shortly.