VENTANA ANNOUNCES RECEIPT OF
MINERALOGICAL CHARACTERIZATION AND PREDICTIVE METALLURGY REPORT FOR LA MASCOTA
SAMPLES
Vancouver, B.C., June 15, 2009 – Ventana Gold Corp.
(TSX: VEN) (“Ventana�� or “��the Company��) has received a mineralogical report from consulting mineralogist
Giovanni Di Prisco, PhD, P.Geo of Terra Mineralogical Services of Peterborough,
Ontario, an independent mineral analysis consultancy, detailing the mineralogical
characterization and predictive metallurgy evaluation of a sampling of the gold
mineralization within the La Mascota zone of the La Bodega project in
northeastern Colombia. The report concludes that gold mineralization in the
sampling is fine grained and inter-grown with pyrite and copper sulphide
minerals and occurs, for the most part, at the mineral grain boundaries.
Ventana commissioned the report to help plan and
develop the metallurgical testing program for the project. The mineralogical
evaluation was conducted on 29 samples taken from core in six drill holes in
the La Mascota zone. The report recommends that the metallurgical test work
evaluate the merits of developing a process flow sheet comprising gravity
separation followed by flotation of the copper sulphide minerals to produce a
copper concentrate, followed by cyanidation of the flotation tails. Based on
this flow sheet and the mineralogy of the material tested, the report concludes
that, although challenging, La Mascota ore could be processed by standard
metallurgical methods with achievable gold recoveries that are expected to
range from 87% to 92%. The gold recovery process discussed in the report has
been successfully implemented at other gold mines including the El Valle gold
mine in Spain that was operated by Rio Narcea Gold Mines and the Bulyanhulu
gold mine in Tanzania that is currently operated by Barrick Gold Corporation.
The metallurgical testing program will commence within
the next month and will be managed by Mike Ounpuu and Nelson King, independent
consulting metallurgists, who have extensive experience with the proposed
processing methodology including metallurgical test work and process plants at
both El Valle and Bulyanhulu gold mines.
In addition, Ventana is pleased to announce that MTB
Project Management Professionals, Inc., an external technical consultant, has
started the initial engineering programs on the project that will form the
foundation of future technical studies including the Preliminary Economic
Assessment. The engineering programs include the metallurgical testing program,
mine engineering and related geotechnical studies and infrastructure location
study.
The conclusions reached in the report with respect to
anticipated recoveries of gold from the company’s La Mascota zone are based
on a number of assumptions and estimates that while considered reasonable by
the report’s author, are inherently subject to significant technical
uncertainties. Many factors, both known and unknown, could cause actual results
that vary significantly from those that are or may be expressed or implied by
such forward-looking statements contained in this news release. In particular,
the recovery estimates set out in the report are based on the examination of a
limited amount of drill core samples, and although these observations are valid
to predict the metallurgical behaviour of mineralized material from specific
drill hole locations, caution should be used to extrapolate from this limited
data set the metallurgical behaviour of the entire La Mascota gold deposit.
Review by Qualified Person, Quality Control and
Reports
Giovanni Di Prisco, PhD, P.Geo and Principal of Terra
Mineralogical Services, is a Qualified Person as defined in National Instrument
43-101 for the mineralogical characterization and predictive metallurgy
contents of this release and has reviewed and approved them.
About Ventana
Ventana is a Vancouver-based mineral exploration and
development company with rights to 4,573 hectares of exploration property in
northeastern Colombia. Ventana is currently drilling at the La Bodega property
with a focus on expanding the high-grade La Mascota zone. The Company’s
shares trade on the Toronto Stock Exchange under the symbol VEN.
Cautionary Note Regarding Forward-looking Statements
Certain of the statements and information in this news
release constitute "forward-looking information" within the meaning
of applicable Canadian provincial securities laws relating to the Company and
its properties. All statements, other than statements of historical fact, are
forward-looking statements when used in this news release, including
information relating to: the estimated recovery of gold from mineralized
material extracted and processed from the Company’s property; the receipt of
initial results from the metallurgical testing program to be commenced on ore
from the La Bodega project; and engineering programs on the La Bodega project.
These statements reflect Ventana’s current views with respect to future
events and are necessarily based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently subject to
significant uncertainties and contingencies, including geological and technical
results from the Company’s property. Many factors, both known and unknown,
could cause actual results, performance or achievements to be materially
different from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. Although Ventana has
attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated, described or intended. The Company does not intend, and
does not assume any obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in circumstances or
any other events affecting such statements or information, other than as
required by applicable law.
For additional information please visit http://www.ventanagold.com/or contact:
Meghan Brown, Investor Relations Manager
tel: (604) 638-2002
email:
mbrown@ventanagold.com
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