Chinese and Venezuelan officials have struck an agreement to jointly develop one of the world's largest undeveloped gold deposits, the Las Cristinas asset near El Dorado.
The Las Cristinas ore body is located in the southern Bolivar state and is estimated to contain 17 million ounces of gold. The deposit has lain dormant for decades due to political and financing issues.
Las Cristinas ore body is massive in size but low grade, with an estimate average grade at 1.13 grams per tonne gold.
The agreement to develop the Las Cristinas gold mine was signed by officials of the Venezuelan Government and Chinese company China International Trust and Investment Corp (CITIC) at the weekend.
SOURCE:
Proactiveinvestors.com.au
China International Trust And Investment Corp To BankRoll Massive Venezuelan 17 Million Ounce Las Cristinas Gold Deposit
