The Gianderi property comprises two mining concessions totaling 886 hectares located in La Libertad Department approximately 35 kilometres south of Huamachuco. Access is via 225 miles of highway and secondary roads from the coastal city of Trujillo. The nearest mine is the Santa Rosa open pit gold operation that is located about 6 kilometres to the southeast.
The property is underlain by Chicama Formation shale/ limestone and Chimu Formation sandstone intruded by large dykes and sills of granodioritic to quartz monzonitic composition. Three known styles of mineralization are known on the property – the Gianderi gold/ silver showing – the Santa Rita tungsten veins:- and the Carolina Mines molybdenum porphyry. In a regional sense, the mineralization is related to a very strong NW-SE striking fault system that links Gianderi with the Pasto Bueno tungsten mine and the large Magistral porphyry deposit that lie 15 kilometres and 35 kilometres to the southeast respectively.
Vena has been concentrating on exploring the Gianderi gold/ silver zone. The surface mineralization is within a fault structure that strikes N20⁰ E and dips 70-80⁰ SE. In the northern sector of the structure the mineralization is restricted to a width of 0.3 – 1.2 metres but towards the south the structure broadens to 5 - 20 metres of hydrothermal breccia with spot values up to 9 g/t Au and 1297 g/t Ag. Using Santa Rosa as the model, the exploration program is focusing on identifying mineralized horizons in the Chimu sandstone that have been ‘’fed’’ by the ascending fluids that mineralized the breccia structure. The method being used is detailed geology and rock sampling followed by an Induced Polarization survey.
The area in and around the property is underlain by sandstones of the Chimu, Farrat, Santa-Carhuaz and Inca Formations, intruded by adamellite bodies. Inca Gold reports results from preliminary surface rock sampling (41 samples) that include gold values as high as 1.4 g/t in Chimu Formation and 2.9 g/t in Farrat Formation. A silver value of 508 g/t (about 16 oz/t) also is reported by Inca Gold, but could not be confirmed by Micon from the list of assay results in the property report (although one sample is reported as “greater than 100 ppm Ag”).