The 15,328.6 hectare Lagunillas property is located in southwestern Puno Department approximately 80 kilometres WSW of Puno city. Access is via a series of secondary roads from the town of Santa Lucia that takes approximately 2 ½ hours to the village of Ixsuya in the north part of the property and 2 hours to the village of Tincopalca in the south part of the property. The road passes the large lakes that give rise to the name of the area. The property is about 40 kiliometres northwest of San Antonio de Esquilache and 25 kilometers north of the Gold Fields/ Buenaventura Chucupaca gold discovery.

The Lagunillas property was originally acquired for its uranium potential and formed part of the Minergia portfolio. Uranium occurs in the Maure Group basinal volcano-sedimentary rocks mainly in chert lenses within lacustrine limestone. A series of 10 holes totaling 1725.7 metres were drilled to test the main uranium showings near Ixsuya in 2009. Grades were generally less than 100 ppm U3O8 in multiple, relatively narrow horizons and the property reverted to 100% Vena ownership.

The southern section of the Lagunillas property is underlain by Miocene/ Oligocene age Tacaza Group volcanics. These dacitic to andesitic rocks are the main hosts of gold-silver-copper-lead-zinc mineralization in southern Peru.

The Quello Quello and Airampuni showings are located in the southern sector of the Lagunillas property. At Quello Quello, two old workings expose fault/ vein mineralization in the 300 metre long Quello structure and the 250 metre long Diana showing. The Quello vein strikes is about 80 cm wide and strikes approximately E-W with maximum values in 8 samples of 44.4 g/t Ag, >1% Pb and >1.0% Zn. The Diana structure is 300 metres SE of the Quello vein. It strikes approximately N50⁰E and is a weak zone of veinlets of opaline quartz with oxides. The highest values from 6 samples were o.15% Pb and 1.0% Cu.

The Airampuni (or Toraya) showing is located about 2 kilometres NW of Quello Quello. The showing is a zone of weak silica veinlets with copper oxides striking NW-SE. Three of the 8 samples ran >1% Cu and one ran > 100 g/t Ag.

There are two 200 hectare concessions that are part of the Lagunillas project that are located approximately 6 kilometres south of the Buenaventura/ Goldfields Chucapaca property in Moquega Department. The claims are predominantly underlain by red conglomerate of the Puno Group. The claims were surveyed by scintillometer but not prospected specifically for precious or base metals.