Vendetta Mining (VTT.V) announced it has entered into an agreement with Ocean Partner Holdings whereby the latter will advise Vendetta on the commercial and markets aspects of the zinc and lead concentrates that will be produced at the Pegmont project.
Ocean Partners is a leading concentrate trader and on top of providing companies with useful and necessary information on the concentrates they are trying to market, Ocean also has experience in project financing through debt, equity and offtake agreements (which would be a major step for Vendetta).
In other news, the Company has completed one drill hole approximately 1.6 kilometers towards the southwest of Pegmont, and this hole has intersected 3 meters of 3.21% copper and 0.57 g/t gold at a depth of 113 meters down-hole. The hole was drilled on the southern claim to meet minimum government exploration expenditures to keep the claim in good standing. The hole was far from a wildcat hole encountering high-grade copper mineralization exactly where a low level linear magnetic anomaly had been identified, but should not be taken to be anything more than maintaining the overall claim position of the Pegmont project; focus will remain on Pegmont’s lead-zinc zones.
This doesn’t mean the discovery of a copper-gold zone is ‘worthless’ and it’s definitely worth following up on, and it’s great to see Vendetta Mining already has a ‘plan of attack’ as it’s comparing this zone with the Kulthor mine, which is less than 30 kilometers away from Pegmont. At Kulthor, a similar gold-copper mineralization has been discovered and mined. Vendetta should (and will) continue to evaluate this zone, but this very likely won’t be on top of the Company’s list of priorities.