Vendome Resources Corp TSXV:VDR announced an update for its San Javier Mine Property in Malinaltepec municipality, Guerrero State, Mexico. Over 600 chip and channel samples have been collected from existing and newly exposed mineralized showings. Analytical results for the samples are expected from SGS Laboratories in Durango, Mexico, within the next two to three weeks. Vendome’s consultant, A.C.A. Howe International Ltd, is now conducting detailed field mapping and reconnaissance. Preliminary mapping results appear to have enlarged the known mineralized envelope of the vein system, which field staff believe may be a hydrothermal system related to regional volcanism.
The 253-hectare San Javier Mine Property lies within the Sierra Madre del Sur precious-metal belt of southwest Mexico. Vendome has an option to acquire a 50% interest in the property by making aggregate payments of $325,000, issuing 3.8 million shares over two years and spending $2.6 million over three years.
We think there is a massive volcanic sulphide structure like the great deposits of Mexico that have been worked for hundreds of years—Franz Kozich
Speaking from Vienna, President/CEO Franz Kozich tells ResourceClips.com, “We’re meeting with an exclusive investors’ forum here, and everything looks very bright. People here are following our project. We have new satellite images to show them. We’re all very excited. What we’ve learned from the field work and the satellite images is incredibly encouraging. We think there is a massive volcanic sulphide structure like the great deposits of Mexico that have been worked for hundreds of years. This area has never been explored before, but it looks like we’re sitting on something like that.
“We’ve had bonanza grades already from previous samples,” he adds. “We know the amazing high grades are there. We have to drill this to prove it up. We might be able to start drilling as early as June, but if the rainy season sets in, we’ll start in September or October. When you’re working on a steep mountain area, you have to watch the weather. We’ll be bringing in new, state-of-the-art drilling equipment from Canada.”
Kozich concludes, “What makes our company different from the thousand or fifteen hundred junior companies listed on the Venture is that we have mineralization everywhere. If you walk over the area, you’ll walk over mineralization. I’ve never seen anything like it that wasn’t worked over. This is virgin. If you go on the road, you see mineralization. If you go on the hills, you see veins everywhere. That’s what makes us different from the other companies.”
Disclaimer: Vendome Resources Corp is a client of OnPage Media, and the principals of OnPage Media may hold shares in Vendome Resources.
by Greg Klein