More than $4 million in working capital will be applied by Chesbar Resources (CBI-M) to its Anacoco gold project in Venezuela’s Bolivar state.
Chesbar holds a 100% interest in two concessions totalling 7.5 sq. km and an 80% interest in a third concession, comprising 2 sq. km. Together, these concessions form a continuous, 10-by-10-km block.
Chesbar President J.T. Flanagan says that work at the concessions has been delayed by inter-ministerial rivalries in the Venezuelan government but that drilling is now expected to begin in early 1997.
Be the first to comment on "Chesbar funds Anacoco project"