Buenaventura is earning into the project under an option agreement with Focus signed in December 2010 and plans to drill a total of 11,000m at Minas Chanca in 2011-2012.
The first stage, which is currently underway, is an eight-hole diamond drilling program at the Santa Rosa area, on the western side of the joint venture area.
The drill program is the first part of a two-phase drill campaign planned for 2011, and a second phase is proposed for the main historic mine area in June once the required permits are in place.
Mapping and rock chip sampling at Santa Rosa discovered a previously unknown structure called the Plomomina Vein that outcrops over a strike length of over 1.7km and is largely covered by gravels.
From a total of 889 rock chip channel samples collected, about 34% assayed over 31g/t Ag, with an average value of 62 g/t Ag.
Individual assays ranged from trace to a high of 3,630 g/t Ag (over 0.75m), with sample widths ranging from 0.15m to 3.5m.
