Vena Resources Inc.

Published : February 26th, 2015

/C O R R E C T I O N from Source ...

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/C O R R E C T I O N from Source -- Vena Resources Inc./

Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru : VEM, Germany : V1RA, USA : VNARF) is issuing this correction from source with respect to the news release that was disseminated on February 26, 2015 at 2:00 (Eastern Standard Time). The % of Cu for the Franja de Oro hole MADDHS15-02 is 0.976%. The correct version follows:

Vena Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Including 8.1 Metres of 292 g/t Ag and 0.73 g/t Au at Esquilache Polymetallic Property

TORONTO , Feb. 26, 2015 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru : VEM, Germany : V1RA, USA : VNARF) is pleased to announce the results of the final four Diamond drill holes of the recently completed drill campaign at the 100% owned silver-rich polymetallic Esquilache project located approximately 850 kilometres southeast of Lima , Peru.  The program consisted of 15 drill holes for a total of 970.9 metres that tested four principal targets: Sepulveda, Creston , Franja de Oro and Estibina.  This press release covers the sixth drill hole at Creston , the two Franja de Oro holes and the single hole into the Estibina structure.

The 1,000 hectare Esquilache property covers the mineralized core of a five kilometre diameter volcanic caldera that has been mined for silver/lead since the early Colonial period. The exposed structures on the property are characterized as part of a system of polymetallic, low to intermediate sulfidation, epithermal to mesothermal veins containing silver-lead-zinc-copper and significant values of gold.

ESQUILACHE PROJECT

PUNO - PERU

 Target 

 Drill Hole 

 From (m)  

 To (m) 

 Interval (m) 

 Ag g/t 

 Ag (opt) 

 Au g/t 

 Cu % 

 Pb % 

 Zn % 

 Crestón 

CRDDHS14-06 

32.00

76.90

44.90

7.15

0.23

0.01

0.003

0.137

0.862

including 

34.00

54.50

20.50

5.91

0.19

0.01

0.002

0.300

1.157

including

46.00

46.50

0.50

27.99

0.90

0.01

0.003

2.160

6.070

including

60.30

63.50

3.20

30.17

0.97

0.05

0.013

0.323

1.921












Franja de Oro 

MADDHS15-01 

37.80

38.20

0.40

25.50

0.82

0.05

0.148

0.397

1.670


44.50

51.20

6.70

44.95

1.45

0.81

0.067

0.089

0.517


68.30

70.00

1.70

31.60

1.02

0.46

0.077

0.045

0.270


79.80

81.30

1.50

10.40

0.33

6.61

0.016

0.011

0.071


96.10

96.80

0.70

87.50

2.81

0.21

0.197

1.060

3.100


115.60

123.00

7.40

64.94

2.09

0.36

0.113

0.094

0.514


199.60

202.60

3.00

137.03

4.41

0.05

1.855

0.206

0.713


210.60

212.60

2.00

20.30

0.65

0.94

0.206

0.033

0.050












Franja de Oro 

 MADDHS15-02 

25.80

50.00

24.20

130.98

4.21

0.40

0.130

0.192

0.048

 including 

28.40

29.20

0.80

286.00

9.20

0.21

0.053

0.315

0.022

 including 

41.90

50.00

8.10

291.69

9.38

0.73

0.094

0.385

0.041


92.50

102.00

9.50

56.60

1.82

0.18

0.976

0.468

0.242

 including

93.90

96.40

2.50

162.36

5.22

0.59

2.994

1.715

0.811










 Estibina  

 SBDDHS15-01 

 No Significant Intersections 

All intercepts are down hole lengths, not true widths. Straight conversion from grams/tonne to Troy ounces/tonne using a factor of 1 Troy ounce = 31.103 grams.

The results from the 15 holes provide an excellent basis for the planning of additional drilling to define near surface resources at the Esquilache project. The priorities will be the follow up of the Sepulveda intersections (see press release dated January 15, 2015 ) and the mineralized intervals in the second hole (MADDHS15-02) at the Franja de Oro.  Additionally, the Mamacocha area would be targeted to follow up on the intersection of 5.85 metres of 506 g/t Ag and 0.16 g/t Au in historical hole ESH-31-2011 at a depth of about 50 metres. However, the second phase of drilling, additional exploration activities and the completion of an updated resource estimate and National Instrument 43-101 technical report are subject to additional financing. Planning is in progress for this next drill stage and additional targets are being evaluated.

Deeper drilling will be required to test the true potential of the Creston vein as near surface mineralization is confined to narrow quartz-hematite veinlets within the breccia vein structure.

The Estibina structure is poorly exposed in small surface workings and was tested by a short hole (SBDDHS15-01). A poorly defined 4.60 metre wide zone of weak quartz-hematite veining and brecciation was intersected from 46.40 metres to 51.00 metres depth that is considered to represent the zone but values were low.

Simplified sections of the two Franja de Oro holes are attached to illustrate the intensity of mineralized veins and breccias in this area of the property where gold is commonly a significant component of the mineral suite. In addition to the multiple veins and stockworks there is a persistent mineralized breccia at the contact between the andesite and the underlying dioritic intrusive that was 8.45 metres wide in MADDHS15-01 and 3.70 metres wide in MADDHS15-02.


ESQUILACHE Diamond DRILL HOLE TABLE

DDH ID

Start Date

End Date

Target

Azimuth

Dip

Depth (m)

SEVDDHS14-01

11/19/2014

11/23/2014

Sepulveda

316°

-30

34.80

SEVDDHS14-02

11/24/2014

11/26/2014

Sepulveda

355°

-45

36.30

SEVDDHS14-03

11/27/2014

11/29/2014

Sepulveda

316°

-30

30.00

SEVDDHS14-04

11/30/2014

12/5/2014

Sepulveda

316°

-60

45.10

SEVDDHS14-05

12/6/2014

12/7/2014

Sepulveda

316°

-30

21.00

SEVDDHS14-06

12/7/2014

12/8/2014

Sepulveda

316°

-60

27.50

CRDDHS14-01

12/10/2014

12/10/2014

Creston

321°

-45

30.50

CRDDHS14-02

12/11/2014

12/12/2014

Creston

340°

-70

40.20

CRDDHS14-03

12/14/2014

12/16/2014

Creston

330°

-30

54.00

CRDDHS14-04

12/17/2014

12/17/2014

Creston

330°

-60

73.60

CRDDHS14-05

12/22/2014

12/29/2014

Creston

320°

-55

59.20

CRDDHS14-06

12/30/2014

1/6/2015

Creston

25º

-60

82.90

MADDHS15-01

1/9/2015

1/23/2015

Mamacocha

140°

-70

226.35

MADDHS15-02

1/24/2015

1/30/2015

Mamacocha

140°

-60

149.45

SBDDHS15-01

1/31/2015

2/2/2015

Estibina

160°

-30

60.00

Total Metres






970.90

In other news, the Company also announces that with the approval of the Toronto Stock Exchange it has settled trade payables in the amount of $142,634.24 through the issuance of 1,188,618 common shares in the capital of the Company, at a price of $0.12 per common shares.  The common shares issued are subject to a four month and a day hold period from the date of issuance in accordance with applicable securities laws.  The issuance of shares is subject to final approval by the Toronto Stock Exchange.

This press release has been reviewed and approved by David Bent , P. Geo., Vena's Technical Advisor and Qualified Person as defined by NI 43-101. Vena's exploration and development programs are being supervised by Mr. Bent.  All core samples are being prepared and analyzed by Certimen S.A., an ISO certified laboratory in Lima, Peru . The program is designed to include a comprehensive analytical quality control routine comprising the systematic use of standards, blanks and field duplicate samples. A secondary laboratory will be used for check assaying.

The TSX does not accept the responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by Vena.  Although Vena believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Vena can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in Vena's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2013 and the third quarter ended September 30, 2014 and its annual information form for the year ended December 31, 2013 , which are available at www.sedar.com.  The forward-looking statements contained in this press release are made as of the date hereof and Vena undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Vena Resources Inc.

Image with caption: "SECCION NW-SE SONDAJE MADDHS15-01 (ZONA MAMACOCHA) (CNW Group/Vena Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20150226_C8296_PHOTO_EN_12597.jpg

Image with caption: "SECCION NW-SE SONDAJE MADDHS15-02 (ZONA MAMACOCHA) (CNW Group/Vena Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20150226_C8296_PHOTO_EN_12598.jpg

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Vena Resources Inc.

PRODUCER
CODE : VEM.V
ISIN : CA9225893044
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Vena Res. is a zinc producing company based in Canada.

Vena Res. produces zinc, manganese in Peru, and holds various exploration projects in Peru.

Its main asset in production is AZULCOCHA in Peru and its main exploration properties are ESQUILACHE, LAS PRINCESAS, MASMA, PALLASCA, SANTIAGO DE CHUCO, CARHUAZ, COMPIN, HUARANCHAL, HUARAZ, AUCAMPAMPA PROSPECT, HUAMACHUCO, PUCARA, MACUSANI, LAGUNILLAS, MUNANI and HUACHON in Peru.

Vena Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 115.7 millions as of today (US$ 110.3 millions, € 82.0 millions).

Its stock quote reached its lowest recent point on December 24, 2004 at CA$ 0.20, and its highest recent level on February 23, 2007 at CA$ 1.91.

Vena Res. has 86 970 000 shares outstanding.

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Financings of Vena Resources Inc.
5/12/2011Announces Board Changes and Extends Warrant Expiry Date
Financials of Vena Resources Inc.
8/16/2011Files Second Quarter 2011 Financials and Updates Operations
Project news of Vena Resources Inc.
7/31/2015(Azulcocha)Provides Update With Regards to the Arbitration Concerning t...
1/16/2015(Esquilache)Intersects 5.65 Metres of 304 g/t Ag Including 2.0 Metres of...
2/10/2014(Las Princesas)Enhances JV Agreement on Las Princesas Au/Ag Project
6/3/2013(Esquilache)Cancels Non=2Dbinding Option on Esquilache=2C Pucara and Ama...
1/15/2013(Esquilache)Announces Positive Results of Surface Sampling at the Esquil...
1/7/2013(Esquilache)Announces Positive Metallurgical Test Results from the Esqui...
10/19/2012(Compin)Options Compin Property for $1+ Million in Cash Payments and...
9/24/2012(Azulcocha)Provides Update on Azulcocha Mining Project
4/30/2012Junior Focus=3A Candelaria Silver =2D early=2Dstage Peruvian...
1/23/2012Urban Select Capital Corp. and Vena Resources Inc.
1/19/2012You are Invited! Come and Visit us at the Vancouver Resource...
6/23/2011(Azulcocha)and Trafigura Improve Strategic Agreement for Azulcocha Mine
5/5/2011(Azulcocha)Fast-tracks Azulcocha Construction after Obtaining EIA Appro...
3/14/2011(Macusani)Uranium Resource Expansion Program in Macusani Successfully ...
2/25/2008(Azulcocha)2008 Technical report
Corporate news of Vena Resources Inc.
6/13/2016Vena Resources Closes $360,000 Private Placement, Files Cont...
1/29/2016TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
1/18/2016Vena Provides Update on TSX De-Listing Review
1/15/2016TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
1/11/2016IIROC Trade Resumption - VEM
1/11/2016Vena Receives Peruvian Court Decision on Azulcocha West Arbi...
1/8/2016IIROC Trading Halt - VEM
12/17/2015TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
10/21/2015TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
8/13/2015Vena Resources Provides Corporate Update
8/13/2015Vena Provides Update with Regards to the Arbitration Concern...
7/31/2015IIROC Trade Resumption - VEM
7/31/2015Vena Provides Update With Regards to the Arbitration Concern...
7/31/2015IIROC Trading Halt - VEM
6/24/2015Announces Results of 2015 Annual General Meeting
2/26/2015/C O R R E C T I O N from Source -- Vena Resources Inc./
2/26/2015Vena Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Inc...
2/26/2015Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Includin...
2/9/2015Vena Clarifies and Retracts Certain Statements Made Related ...
2/7/2015Vena Clarifies and Retracts Certain Statements Made Related ...
1/16/2015Vena Intersects 5.65 Metres of 304 g/t Ag Including 2.0 Metr...
1/16/2015IIROC Trade Resumption - VEM; SVY; LYD
1/15/2015IIROC Trading Halt - VEM
12/30/2014TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
12/18/2014Vena Announces Positive High-Grade Results from Ongoing Dril...
12/18/2014(Esquilache)Announces Positive High-Grade Results from Ongoing Drill Pro...
11/29/2014Vena Announces Closing of Shares for Debt
11/26/2014TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
11/25/2014Vena Announces Closing of Private Placement Financing
11/10/2014Vena to Drill Major Veins at the Esquilache Polymetallic Pro...
1/16/2014Closes Sale of Uranium Assets to Azincourt Uranium
12/2/2013Improves Balance Sheet Significantly - Working Capital Incre...
11/22/2013Enters Agreement to Sell Uranium Assets to Azincourt Uranium
8/21/2013Issues Shares to Settle Debt and Provides Board Update
6/25/2013Announces Annual and Special Meeting Voting Results
4/26/2013Issues Shares to Settle Debt
12/12/2012(Esquilache)Obtains Community Permits to Advance Esquilache
11/8/2012(Azulcocha)Completes Sale of Azulcocha Mining to Trafigura
10/5/2012Consolidates Shares
7/3/2012Andr=C3=A9 Gauthier joins Vena Resources Board of Directors
3/15/2012(Azulcocha)Acquires Historical Drill Data Indicating Significant New Zi...
3/1/2012(Azulcocha)Confirms High-Grade Polymetallic Structures at Azulcocha Min...
2/23/2012You are Invited! Come and Visit us at the PDAC!
2/16/2012to Drill Promising Gold Target on its Gianderi Project, Peru
2/8/2012(Azulcocha)Partner Trafigura Invests US$7 Million to Move Azulcocha Zin...
1/16/2012Files NI 43-101 Report for Granja Gold on the Granja Nueva P...
12/19/2011Files NI 43-101 Technical Report on Pukara Property
12/14/2011Receives Shareholder Approval to Spin-Out Candelaria Silver ...
10/26/2011and Gold Fields to Commence Drilling on Amantina Property in...
10/11/2011(Esquilache)Registers 60% Ownership and Files NI 43-101 Report on Esquil...
9/13/2011(Macusani)Significantly Upgrades Resources at Macusani Uranium Project
7/25/2011Intersects 5.85 Metres of 506 gpt AG in Veta Mamacocha and E...
6/8/2011(Esquilache)Discovers High Grade Silver-Gold Zone at Esquilache Project,...
5/25/2011(Macusani)Discovers Higher Grade Zone at Isivilla-Macusani Uranium Pro...
4/7/2011and Gold Fields Identify Significant Targets on Amantina JV ...
2/24/2011Closes $12 Million Financing
2/22/2011Vena Resources Files Prospectus Supplement for $12 Million F...
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TSX-V (VEM.V)FRANKFURT (V1R.F)
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Produces Manganese - Zinc
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Explores for Copper - Gold - Lead - Silver - Uranium
 
 
 
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