Not averse to working in warm climes, Orvana Minerals (VSE) has started drilling a property in Jamaica and has negotiated an option agreement for a Mexican property.
At its Central Inlier gold project in Jamaica, the company is carrying out a 1,000-metre program.
The work is aimed at testing the downdip extension of a near-surface, high-grade structure known as the Bennett zone. Measuring 200 metres in length, it lies within a 4,000-metre-long geochemical anomaly. Two holes previously drilled by Orvana intersected a mineralized structure which remains open along strike, to the east and at depth.
The 68-sq.-km property hosts another target, where previous drilling by BHP International intersected 3.1 metres which averaged 17 grams gold per tonne at a depth of 120 metres. Deeper drilling is planned.
Meanwhile, Orvana has negotiated an agreement enabling it to acquire El Tigre, a gold prospect in northeastern Sonora state, Mexico. The property hosts old Spanish workings where recent mapping and sampling have defined a 350-metre-wide-by-500-metre-long area with anomalous gold values. Mineralization appears to be hosted by a silicic dome complex which is both structurally and stratigraphically controlled.
Orvana can earn the interest, subject to a 3% to 5% royalty, by paying US$50,000 upon signing the agreement. The vendor will also receive advance royalty payments of US$50,000 at 6-month intervals for the length of the agreement. It will also receive 10,000 Orvana shares six months after the agreement is signed, and 20,000 shares in the following six months. Geological mapping and sampling will be carried in the upcoming months, followed by drilling.
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