Vena eyes Peruvian uranium (February 16, 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 traverses and collect data from the anomalous zones situated on 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 the government of the United Kingdom in 1980. That airborne scintillometer surveying campaign 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.