CARACAS, October 15, 2009 (AFP) - "Large reserves" of coltan, a highly sought after metallic ore used in consumer electronics products, have been found in Venezuela, President Hugo Chavez said late Wednesday.

"A strategic ore dubbed coltan has been discovered... We do not yet know the quantity we have, but according to preliminary data these are large reserves," Chavez said.

The army has gone into the affected area, he said, in order to combat "illegal exploitation" of the reserves and "smuggling to Colombia." Venezuela has long served as a transit country for Latin America's illicit drug trade.

In addition to coltan, also known as columbite-tantalite, Science and Technology Minister Jesse Chacon has said uranium, gold, diamond, phosphate, titanium, and lead deposits have been discovered as Venezuela takes aerial photographs of its territory with the help of Iran.

Chavez defended last month his decision to cooperate with Tehran to develop nuclear energy, as world powers ratchet up pressure on Iran for allegedly secretly seeking to develop an atomic bomb under the cover of its civilian nuclear energy program. The Islamic Republic denies the charges.

Venezuela is Iran's main ally in Latin America and the two countries have signed a series of banking and industrial cooperation agreements.

Firebrand leftist leader Chavez has said his country is working on a preliminary plan to build a "nuclear village" with Iranian assistance to allow Venezuelans to benefit from nuclear energy.