LAST BUT NOT LEAST — Crystallex acquires more properties

A US$11-million acquisition is expected to almost double the land package held by Crystallex International (VSE) in northeastern Venezuela.

The junior has signed an option agreement to acquire four concessions from Asociacion Co-operativa Minera Mixta del Sur. The concessions — Santa Elena 7 and 8, Carabobo and San Miguel 8 — are situated along the Ca- lao/Dorado/Kilometre 88 greenstone belt in Bolivar state.

Two of the concessions are fully permitted and all have been previously mined for gold. Exploration is to begin immediately.

The agreement has yet to be approved by regulators and the country’s mines ministry.

Of the US$11-million total cost, US$70,000 has been paid up front. A further US$2.4 million is due one month after ministerial approval and the remaining US$8.5 million eight months later.