Cadre Resources - Venezuela
Evaluating an alluvial deposit to determine the economic potential for recovering gold, diamonds, and titanium from the Rosita Concession on the Lower Caroni River.
Small independent dredge operators have mined the Caroni River in eastern Venezuela for more than 30 years, with diamonds originally being the primary resource. In the 1980s, the mining focus changed to gold recovery. About 200 dredges currently work the entire Caroni River, with about 50 to 60 on the Lower Caroni.
Cadre Resources retained RESPEC to evaluate an alluvial deposit in eastern Venezuela to determine the economic potential for recovery of gold, diamonds, and titanium from the gravels of the 500-hectare Rosita Concession on the Lower Caroni River. After reviewing data from previous testing and operating records, RESPEC prepared a report that evaluated these records and concluded that the client should proceed with a comprehensive testing program to evaluate the viability of recovering these metals.
RESPEC recommended that the testing be separated into a limited "Phase I" scoping program, followed by a "Phase II" Testing program, which would involve conducting a bulk sample testing using an airlift dredge (or similar equipment) to recover between 10,000 and 50,000 tonnes for processing through an on-site test facility. Because of the limited remaining life of the Rosita Concession, the potential flooding of the area related to a new Caroni River Dam, and the political risk of the country, the project did not proceed.