Benz Mining CEO Miloje Vicentijevic discusses the company’s recent work on the Mel zinc project in the Yukon and why the territory is the right place to be.
Benz Mining CEO Miloje Vicentijevic (TSXV:BZ) believes that the Yukon territory is the right place to be as its mining-friendly government and recent infrastructure investment is attracting a growing mining presence.
In the interview below, Vicentijevic discusses the advantages of working within the Yukon and the recent advancements the company has made at its Mel zinc-lead-barite project.
Benz Mining’s first round of exploration has shown higher grades than those recorded in historic data, as well as expansion potential for the deposit. Benz plans to continue exploring both these features in its second season of exploration.
Below is the video of our interview with Benz Mining CEO Miloje Vicentijevic as well as the transcript. It has been edited for clarity and brevity.
Investing News Network: Please give our investor audience an overview of Benz Mining and its flagship property, the Mel zinc-lead-barite project in the Yukon.
Benz Mining CEO Miloje Vicentijevic: Benz Mining is a junior mining company which was founded a few years ago by a group of experienced mining and geological professionals. The company acquired the Mel zinc project for $2.7 million in the Yukon last March. Benz Mining recently completed an initial exploration program, and the company is well positioned for the next phase to further develop the project.
The current share structure includes 25 million shares outstanding and there is approximately $1.9 million in the bank.
The Yukon is an extremely exciting place to be in. I myself worked in the Yukon in the late 1990s when the region was slowing down as Fort McMurray was opening up. Now, with the Yukon’s government, assets and investments, the territory is the place to be for developing a project. Beyond having a mining-friendly government, the region is also attracting some large mining companies that are moving their activities and focus into the Yukon, executing large transactions and investing significant amounts of money. Overall, it’s a great place to be and it’s the right place to invest in and further develop a project.
INN: Please tell us about the exploration activities you have conducted on the Mel project to date. Are there any findings you would like to highlight?
MV: This season was our first exploring and drilling the Mel project. The results we have seen have given us a high level of confidence in the deposit. Historical data associated with the project outlined grades of 6.5 percent zinc. However, we are seeing a larger zinc grade, which is extremely positive.
After analyzing the results and learning more about the property through trenching and sampling along our geological mineralization outcrops, we believe that there is a high probability that the project can be expanded by at least 30 to 35 percent during the next season.
INN: With these findings in mind, what is next for the Mel project and how does that fit into Benz Mining’s long-term plans?
MV: In our next season, we will be drilling 14,000 meters, which will enable us to achieve our exploration goal. There are two things that we want to achieve. The first is to secure the minimum level of high-grade ore so that the project can be carried into a feasibility study. The second is to open up the blue-sky areas on the project that might contain open-pittable resources that we are targeting for our next drilling program.
INN: Savvy investors known strong management is key to a company’s success. Are there any executives you would like to highlight on your board and management team?
MV: I would like to emphasize and highlight our entire team, starting with Michael Gareau, our vice president of geology and exploration, who has done an extremely good job in selecting and acquiring the Mel project as well as leading the exploration initiatives on it. I also want to highlight Gordon Bub, the most experienced name on our team, [as well as] Carlos Escribano and Ron Hall, all great professionals with notable experiences that are putting all of their skills and efforts into further advancing this project.
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