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vena resources inc (VEM) Details

Vena Resources Inc. is engaged in the exploration, development, and production of mineral properties in Peru. The company explores for uranium, silver, lead, zinc, copper, manganese, and gold. Its principal properties include the Esquilache project, which covers an area of approximately 25,000 hectares located in Puno; the Pukara project that covers an area of approximately 1,662 hectares situated in Puno Department; and the JR-24 project, which covers an area of 1,400 hectares located in the northern sector of the Cordillera Negra mountain range. The company is headquartered in Toronto, Canada.

vena resources inc (VEM) Top Compensated Officers

Executive Chairman, Chief Executive Officer a...
Total Annual Compensation: --
Vice President of Exploration
Total Annual Compensation: C$135.0K
Compensation as of Fiscal Year 2013.

vena resources inc (VEM) Key Developments

TSX To Extend Its Review Of Eligibility Of Common Shares Of Vena Resources

Further to TSX Bulletin 2014-1133 dated October 21, 2014, TSX has decided to extend its review of the eligibility of the common shares of the Vena Resources Inc. for continued listing for a period of 30 days.

Vena to Drill Major Veins at the Esquilache Polymetallic Property

Vena Resources Inc. announced the initiation of drilling at the 100% owned silver rich polymetallic Esquilache project located in Puno Department approximately 850 kilometres southwest of Lima, Peru. The company has recently received the necessary permits for a 20 platform drill program and Ingetrol Peru SAC is mobilizing a portable rig to the property that will commence drilling this week. Community agreements, access roads, drill platforms, camp site and all required infrastructure requirements have been finalized. The 1,000 hectare Esquilache property covers the mineralized core of a five kilometre diameter volcanic caldera that has been mined for silver/lead since the early Colonial period. The exposed structures on the property are characterized as part of a system of polymetallic, low to intermediate sulfidation, epithermal to mesothermal veins containing silver-lead-zinc-copper and significant values of gold. This first phase of the drill program will consist of a minimum of 1,000 metres of drilling designed to confirm the surface sampling results from the Sepulveda and Creston veins as well as the high grade drill intersection from the Mamacocha vein. The results will be the initial stage in calculating near surface mineral resources on the property, leading to an updated NI 43-101 technical report in the first quarter 2015. The Company has the objective of fast tracking a mining plan to exploit high grade reserves that can be mined by a combination of open pit and the extension of existing underground infrastructure. The specific targets are: Sepulveda Vein - Located at the northern crest of Cerro Creston. Quartz breccia in a matrix of silica-barite. The structure strikes approximately N 50deg E and dips 55deg SE with widths up to 15 metres and is exposed over a strike length of 450 metres. Mineralization is predominantly silver with significant lead in sulfides with channel sample values ranging up to 17 ounces per ton silver. The initial phase will consist of drilling six short holes (inclined at - 30deg and - 60deg NW) from three platforms sited immediately southeast of the structure. An additional four platforms are being constructed further to the southeast of the structure for follow up deeper drilling (200 metre holes) if warranted by the initial results. Creston Vein - Located in the central portion of Cerro Creston. Breccia vein composed of quartz/calcite fragments in a matrix of iron/manganese oxides. The vein is emplaced within the Creston fault that strikes N 80deg E and dips 60deg SE. Widths are highly variable due to the sigmoidal nature of the structure with significant secondary veins in the hanging and foot walls. Channel sample values ranged to a maximum of 11 ounces per ton silver with significant gold values. Two platforms have been constructed and four holes will be drilled (inclined at -30deg and -50deg NW) as an initial test of the mineralization. Mamacocha Vein - located on the northeastern flank of Cerro Mamacocha. Breccia vein composed of a central quartz breccia core flanked by quartz veining that carry very high silver values. The structure is up to 12 metres wide and strikes N 40deg E with a dip of about 55deg SE. Hole ESH-31-2011 intersected 5.85 metres of 506 g/t Ag and 0.16 g/t Au at a vertical depth of about 50 metres. The plan is to follow up the discovery hole with a parallel hole sited 50 metres to the southwest and another that would intersect the vein about 50 metres down dip.

Vena Resources Inc. Announces Board Changes

Vena Resources Inc. announced that Mr. Nick Appleyard has agreed to join company's board of directors, replacing John Clarke who is pursuing other ventures. Nick Appleyard has been the chief executive officer of Chaparral Gold Corp. since its formation in October 2013. Mr. Appleyard's responsibilities include the day to day management of Chaparral and the development and implementation of corporate strategy.


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