Vendetta Mining (VTT.V) has started its drill program on the Pegmont lead-zinc project in Australia. The first phase of this drill programme will focus on the Zone 5 and the Burke Hinge zone where the average zinc grade is higher compared to the lead-rich zones that were part of the previous resource estimate. As the zinc price has been steadily moving higher in the past few days and weeks, a boost in the average zinc grade might bode very well for Vendetta’s plans to develop a mine plan.
Perhaps even more exciting than the current exploration program might be the fact the company has hired Geoff Richmond, a metallurgist with almost half a century experience on his resume. He was the principal metallurgist at MMG (which, as you know, operated the Century zinc mine in Australia and is currently developing the Dugald River zinc mine) and definitely sounds like an excellent addition to the team.
2016 will be very exciting for Vendetta Mining as the company plans to spend the majority of the cash it just raised in the ground, in an attempt to increase the total resource estimate to 15 million tonnes so it can develop a viable mine plan. We really like the company’s prospects and are preparing an in-depth report that will be released shortly.
Go to Vendetta’s website
The author has a long position in Vendetta Mining. Vendetta is a sponsor of the website. Please read the disclaimer
