EXPLORATION ROUNDUP — VenCan expands Honduran holdings

Having picked up five concessions in Honduras, VenCan Gold (VCG-M) plans to spend $1 million on exploration there in 1997.

The properties, which, in total, comprise more than 30,000 ha, were acquired by direct grant from the Honduran government.

The Garaganta Profunda I, II and III concessions are in the extreme south of the country, in a volcanic belt that hosts the recent discovery made by Battle Mountain Gold.

VenCan says these properties form a continuous, 40-km block of land, extending west from the Battle Mountain ground to its Gualiqueme concession, acquired earlier this year.

A fourth concession, the Iguana, is 30 km east of the capital city of Tegucigalpa and covers the same volcanic environment as the Garaganta Profunda concessions. Iguana is adjacent to a project being explored by a junior in the Robert Friedland stable.

Conchagua, the fifth concession, lies southeast of Iguana but in the same volcanic belt. The 6,000-ha property has similar potential and hosts old workings that are still being exploited by artisanal miners.

A drill program is under way at VenCan’s 50%-owned Opoteca concession in Honduras, with results expected shortly.