Jordex negotiates funding for exploration in Bolivia

An international company partly owned by the French government will provide funds to explore properties staked by Jordex Resources (TSE) in Bolivia.

During the past 18 months, Jordex carried out a reconnaissance program over a large area of that country’s Precambrian Shield. It staked 39,000 hectares to cover gold targets which include strongly sheared volcanic-sedimentary rock units considered prospective for primary gold and base metal deposits hosted in classic greenstone environments.

The claims are in the San Ramon area, 200 km north of Santa Cruz, which is one of Bolivia’s historic gold mining districts.

The agreement calls for Bureau des Recherches Geologiques et Minieres to spend $1 million on exploration to earn up to a 49% interest in the properties. The initial phase requires that it spend $380,000 over the next 18 months to earn 35%. Jordex will manage the program.

Jordex recently explored several concessions in Bolivar state, in eastern Venezuela, but dropped its interests when results proved insufficiently encouraging.