Tuesday, 19th April 2005 (2867 views)

Canada's Vena Resources has announced it is has signed a deal with Inca Gold, a private Peruvian exploration company.

Under the deal Vena will purchase eight properties all located in the highly prospective area of the Alto Chicama - Yanacocha structural corridor.

The gold properties make up 22,486 hectares and are in line with the company's mission to become a pre-eminent develop of the mineral and social wealth of Peru.

Juan Vegarra, chairman of Vena Resources, said: "Vena is demonstrating once again the strength and depth of its exploration teams. The Inca Gold projects are strategically located in this highly regarded area of Peru."

To make the purchase, Vena will make a one-time payment of $60,000 plus 800,000 shares of Vena stock.

Vena is a mining company focused on the exploration of Peru's mineral potential, it is now planning a strong programme of surface exploration and geophysical surveys to identify key sites for drilling.

 

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