Junior exploration roundup: Vena, Crusade, Centaurus

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Wednesday, May 28, 2014

Toronto-based Vena Resources said it plans to restart exploration at its Azulcocha West zinc-lead-silver-copper project in Peru.

The company plans to resume exploration at the 2,58ha property after a four year arbitration process ruled that Vena pay joint venture partner Glencore Xstrata's Los Quenuales unit US$2.34mn in damages to settle a dispute over exploration commitments, the company said in a statement. Vena said it aims to publish a resource estimate as soon as possible.

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Australia's Crusader Resources said it started a diamond drilling program at its Posse iron ore mine in Brazil.

Crusader, which started work last week on a 12-hole, 1,000m drilling program in the Posse open pit in the state of Minas Gerais, has discovered an additional set of veins, according to a statement. Drilling results will be released as they become available.

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Australian explorer Centaurus Metals said it applied for a trial mining license for its Candonga iron ore project in Brazil.

The company said it also filed an application for an environmental license at the state environmental agency Supram to run a 300,000t/y operation, with approval of both permits expected within six months, the company said. Centaurus added it has begun a 600m diamond drilling program at the deposit, which contains an estimated 11.9Mt of 43% iron resources and could start mining operations within 9-12 months.