Vena Resources Inc.

Published : January 07th, 2013

Announces Positive Metallurgical Test Results from the Esquilache Silver Project

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Keywords :   Canada | Collapse | Germany | K Street | Lead | Peru | Recovery | Silver | Zinc |

Vena Announces Positive Metallurgical Test Results from the Esquilache Silver Project

Jan 7, 2013

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TORONTO, Jan. 7, 2013 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru: VEM, Germany: V1RA, USA: VNARF) announces positive results on the preliminary metallurgical testing of outcropping veins and mine dumps as part of the recently initiated program to evaluate near surface resources on its 100% owned Esquilache project located in southern Peru.  The metallurgical tests have been conducted on composite representative samples from the Sepulveda and Elvira veins as well as the principal dumps confirming that the Esquilache project can produce commercially viable concentrates of silver-lead (Ag-Pb) and zinc (Zn) and that the mineralization is processable by standard metallurgical methods.

The head grade of the composite sample from the Sepulveda vein (8 to 10 metre width) ran 6.36 opt (ounces per tonne) Ag. The results from the initial conventional flotation test were very positive with an Ag recovery of 64% and a concentrate grade of 168 opt Ag. A subsequent test that included cyanidation of the tailings increased the Ag recovery by an additional 20%. From this initial work it is possible to predict that the Sepulveda vein will have Ag recoveries in excess of 80%. Additional work is in progress to maximize the recovery.

A composite sample of the principal mine dumps was prepared and assayed 2.95 opt Ag, 0.24% Cu, 1.67% Pb and 3.47% Zn. The initial conventional flotation test was very successful in producing commercial grade concentrates. These included a bulk concentrate grading 58 opt Ag, 52% Pb, 6.5% Cu and a zinc concentrate that graded 60%. Recoveries were 73% Ag, 93% Pb, 88% Cu and 83% Zn. Current testing is focusing on separating the bulk concentrate into individual Ag-Pb and Ag-Cu concentrates.

The composite sample from the Elvira vein ran 4.79 opt Ag. The vein is more oxidized at surface than the Sepulveda vein. The initial conventional flotation test produced a concentrate grading 253 opt Ag with a recovery of 43.3% Ag. Bottle cyanide leaching tests of this material have resulted in recoveries of up to 49% Ag. Tests are underway that will combine flotation followed by cyanidation of the tailings.

"The metallurgical work that is currently underway marks an important step in advancing the Esquilache project. We are very pleased with the results to date that indicate commercial concentrates can be produced from Esquilache by conventional milling processes. Planned metallurgical tests and subsequent fine tuning will be undertaken to maximize predicted concentrate grades and recoveries", stated David Bent, Vice President of Exploration of Vena Resources Inc. and General Manager of the Company's operations in Peru.

The Esquilache metallurgical studies are being conducted by the Universidad Nacional de Ingenieria under the direction of Ing. Edgar Segura. The assays for the tests are being completed in the ISO 9001 Certified laboratory of Actlabs Skyline Peru in Lima. The final assays from the vein and dump samples have been received and are being plotted. These results will be released shortly along with any additional information on the metallurgical test work.

This press release has been reviewed and approved by David Bent, P. Geo., Vena's Vice President of Exploration and Qualified Person as defined by NI 43-101. Vena's exploration and development programs are being supervised by Mr. Bent.

The TSX does not accept the responsibility for the adequacy or accuracy of this release.  Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

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Image with caption: "Sepulveda Vein - Composite Metallurgical Test T1 and T2 (CNW Group/Vena Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20130107_C4213_PHOTO_EN_22296.jpg

Image with caption: "Dump - Composite Flotation Test T1 and T2 (Bulk Ag-Pb Concentrate) (CNW Group/Vena Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20130107_C4213_PHOTO_EN_22297.jpg

SOURCE: Vena Resources Inc.

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Vena Resources Inc.

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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, CARHUAZ, COMPIN, HUARANCHAL, HUARAZ, MASMA, PALLASCA, SANTIAGO DE CHUCO, HUAMACHUCO, AUCAMPAMPA PROSPECT, LAS PRINCESAS, 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.
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Financials of Vena Resources Inc.
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9/24/2012(Azulcocha)Provides Update on Azulcocha Mining Project
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Corporate news of Vena Resources Inc.
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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...
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7/31/2015IIROC Trading Halt - VEM
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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...
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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
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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!
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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...
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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...
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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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