DIAMOND PAGE — Earth Sciences inks Venezuelan diamond deal

Earth Sciences (ESCI-Q) has acquired the right to explore for diamonds in the Gran Sabana, a large treeless expanse in southeastern Venezuela.

The vendor, a Venezuelan company known as CODSA 14, controls a 2,500-ha concession in Bolivar state, near the Brazilian border.

Earth Sciences agreed to pay US$50,000 in cash and stock over a 6-to-8-month period, during which time the company will begin exploration. The Venezuelan company retains a sliding royalty of between 5% and 20% based on the value of diamonds recovered.

Earth Sciences plans to evaluate the alluvial potential of the property through bulk sampling. Local miners have already recovered diamonds, measuring 2 to 5 carats, as well as gold, from alluvial material.

Earth Sciences controls several gold exploration properties in Venezuela and operates the only purified phosphoric acid plant in Canada.

Print

Be the first to comment on "DIAMOND PAGE — Earth Sciences inks Venezuelan diamond deal"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close