Geology, Mining, and Mineral Potential of Southern Venezuela

Abstract

ABSTRACT The highly prospective Precambrian Guyana shield south of the Orinoco River in Venezuela can be divided into five main provinces: Imataca, Pastora-Botanamo, Cuchivero, Amazonas, and Roraima. The combination of gold-rich granite-greenstone belts, felsic volcanic and granitic terrains, highly diamondiferous kimberlites, widespread gold and diamond placers, and large unexplored areas makes this region an exciting exploration province. Important mineralization events occurred at different times over a wide range of geologic time, from 3.2 Ga for banded iron formation in Imataca, 2.0 to 1.9 Ga for gold mineralization in Pastora-Botanamo, 0.71 Ga for diamondiferous kimberlite emplacement in Cuchivero, and the Tertiary for formation of enriched iron ores and bauxite ores in Imataca and Amazonas. Iron and aluminum mining is controlled by state mining corporations, with current annual ore production of 23 and 5.2 Mt, respectively. Gold mining is divided between state and private companies and artisanal operations. Total gold production is probably about 750,000 oz per year, including artisanal production. All diamond production is currently artisanal, with total estimated annual production of 500,000 ct. When current project go into production, Venezuela’s gold and diamond production will pass 1.3 Moz/yr and 1 Mct/yr, respectively. Artisanal mining is a key part of the gold and diamond-mining industry in Venezuela, and prospective exploration and mining companies must be aware of this; they should include projects with artisanal miners and local communities in their exploration and development planning.