Vena Resources Inc. (TSX: T.VEM, Stock Forum) said that early results of the program to evaluate near term resources on its Esquilache project in southern Peru are very promising.
The program is focused on evaluating the mine dumps generated by historical mining as well as the potential for small open pits to exploit the wider and higher-grade surface exposures of the principal veins.
According to the Vena Resources press release, highlights of the sample program include 12 samples of 2.0 grams per tonne gold, 32 samples of 200 grams per tonne silver, five samples of 1.0%
copper, 26 samples of 3.0% lead and 41 samples of 3.0% zinc.
Once the initial sampling program is completed, the next phase will consist of a program of short-drill holes to test the selected vein structures to a depth of approximately 30 metres.
The results of the drill program will then be used to calculate a NI 43-101 technical report amenable to low cost, open-pit mining.
Vena is a Canadian mining company focused on the exploration and development of Peru’s mineral potential.
On Monday morning, Vena was trading at $0.205 a share. The company has a market cap of $12.8 million, based on 62.3 million shares outstanding. The 52-week high and low was $0.38 and $0.125 respectively.