Ezenet (ASX: EZE) is on the path to becoming a mineral resources company with a change of name to Oro Verde Limited on the horizon and a focus on copper and gold exploration in Chile.
In early August, Dr Wolf Martinick was appointed managing director and Dr Brad Farrell was appointed technical director. Both of whom were directors of Basin Minerals Limited responsible for the discovery of the Douglas world class mineral sands deposit that was acquired by Iluka Minerals Limited in 2002.
A meeting of shareholders is set for 8 November 2011 to approve change of activities and acquisition of the two Chilean mining projects, Chuminga (copper-gold) and Vega (gold).
For the change of activities, the company will need to re comply with ASX Listing Rules 1 and 2 and will be seeking the approval of its shareholders for the acquisition of the prospective Chuminga and Vega projects.
Ezenet has also established a wholly owned subsidiary company, Green Mining Ltda and appointed an experienced manager, in Santiago, the capital of Chile, to manage and progress Ezenet’s interests.
Ezenet will aim to acquire a 100% interest in the two projects, Chuminga and Vega (gold), both of which are located in highly prospective regions in Chile.
Links have been made with the successful and well known Errazuriz-Hochschild Group of Chilean mining companies. Construction has commenced on a road and drill pads to the Chuminga site which is expected to be completed by October 2011.
A magnetic survey of the mineralised body in the 900 hectare Chuminga project area has commenced.
Drilling is due to commence in early-mid October 2011 with first assay results likely to be available in early November 2011.