Vena eyes Peruvian uranium (March 07, 2005)

Vena Resources (VEM-V) will take a closer look at 38 anomalies identified on 96 sq. km worth of prospective uranium concessions recently staked in Peru.

The Toronto-based junior will send a team armed with handheld scintillometers to collect data from the anomalous zones, which occupy 16 concessions.

Vena selected its targets from 78 anomalies originally identified via a US$1-million survey carried out over 125,000 sq. km by the Peruvian government’s Atomic Energy group and by the government of the United Kingdom in 1980. That airborne scintillometer survey covered a large portion of southern Peru, and indicated that most uranium mineralization occurs as tobernite — a clear, green, phosphorescent copper-phosphate mineral containing up to 68% uranium. The Puno formation sandstones most commonly host the radioactive minerals identified. Vena says up to 94% of the uranium can be recovered with no mineral contaminants.

Vena will combine its data with the existing airborne data to define the most prospective drill targets on the 100%-owned concessions. To that end, the company has inked a joint exploration deal with the Peruvian Institute of Nuclear Energy (IPEN).

IPEN is a decentralized public institution charged with the promotion, management, development, and supervision of Peru’s nuclear energy industry.