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Vena Acquires Historical Drill Data Indicating Significant New Zinc Mineralization East of the Azulcocha Mill
Published : March 15, 2012
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Mots clés associés :   Cadmium | Facebook | Germanium | Manganese | Zinc |

TORONTO, ONTARIO--(Marketwire - March 15, 2012) -

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US.

Vena Resources Inc. ("Vena" or the "Company") (News - Market indicators)(LMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA:V1R.DE), a company with strong partnerships with some of the world's largest mining companies, is pleased to announce that it has acquired historical drill data indicating multiple horizons of zinc mineralization in a land package controlled 100% by Vena Resources located approximately four to five kilometres east of the existing Azulcocha mill.

Vena acquired a report summarizing the 1974 drill campaign by Compania Minera Gran Bretana, former operators of the Azulcocha zinc mine, to explore for additional resources to the east of the mine. The information is in the form of internal monthly reports written by the Chief Geologist that summarize the drilling progress for the period February through May 1974. Although the drill hole report is not National Instrument 43-101 compliant, Vena staff has verified the existence of the drill platforms in the field and have found trenches that have surface mineralization up dip from several of the mineralized intersections. The significant drill hole intervals and assays are shown in the adjacent table. It should be noted that the widths in the table below are core lengths - not true widths. The core from the drill holes has been lost and is not available for re-logging. The report contains assays for zinc, manganese, arsenic and iron but apparently assaying did not include silver and lead.

To view the table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/VenaTable.jpg.

David Bent, Vice President, Exploration for Vena stated, "The acquisition of the Gran Bretana exploration data has given Vena a running start in our efforts to identify additional resources for the Azulcocha mill. The zinc grades and intersection lengths in the old holes are very significant for Vena and if verified by hole twinning will be the target of a major drill program during 2012. The mineralization appears to be sedex in origin meaning that the tonnage potential could be substantial, as attested by the wide separation between the old holes. The manto deposits in the Chunumayo formation are typically very persistent both along strike and down dip with widths varying from two to ten metres and high grades of zinc plus lead with accompanying silver and cadmium and significant quantities of germanium."

Preliminary examination of the old drill data and field observations indicate that the zinc mineralization at Azulcocha East is in the Chunamayo formation that is a sequence of limestone-sandstone-shale-tuff that hosts the primary mineralization underlying the karst breccia ore at the Azulcocha mine. Early indications are that there are three mantos identified in the old drill holes. An interpretative section is attached that shows our understanding of the relationship between the individual mantos. The mineralization is interpreted as being of sedex origin which means that continuity along strike and down dip could be extensive and can only be determined through drilling.

The immediate plan for the area is to complete detailed geological mapping aided by trenching to outline the surface expression of the three mantos. At the same time an application will be prepared for a drill permit that will allow for twinning a couple of the old holes followed by systematic step outs both along strike and down dip of the mantos to determine the potential tonnage and grade.

Juan Vegarra, Chairman and CEO of Vena Resources stated, "The Azulcocha East area has the potential to play a vital role in our stated objective to increase mill capacity to 2,000 tonnes per day as well as extending the operational life of the mine. The confirmation and delineation of this potential near mine resource has become a top priority for our exploration team."

To view the map associated with this press release, please visit the following link: http://file.marketwire.com/release/venamap.jpg.

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.

For further information on Vena Resources, please visit the Company website at www.venaresources.com or its Facebook page.

Statements in this press release regarding the Company's business, plans, intentions, proposed transactions and financing plans, 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.

Shares Outstanding: 124,601,658

Fully-Diluted: 153,379,268

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

Vena Resources Inc.
Juan Vegarra
Chairman & CEO
(416) 364-7739, ext. 120
jvegarra@venaresources.com
www.venaresources.com

Vena Resources Inc.

PRODUCTEUR
CODE : VEM.V
ISIN : CA9225893044
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Vena Res. est une société de production minière de zinc basée au Canada.

Vena Res. est productrice de zinc, de manganese au Perou, et détient divers projets d'exploration au Perou.

Son principal projet en production est AZULCOCHA au Perou et ses principaux projets en exploration sont ESQUILACHE, CARHUAZ, COMPIN, HUARANCHAL, HUARAZ, MASMA, PALLASCA, SANTIAGO DE CHUCO, HUAMACHUCO, AUCAMPAMPA PROSPECT, LAS PRINCESAS, PUCARA, MACUSANI, LAGUNILLAS, MUNANI et HUACHON au Perou.

Vena Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 115,7 millions CA$ (110,3 millions US$, 82,0 millions €).

La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2004 à 0,20 CA$, et son plus haut niveau récent le 23 février 2007 à 1,91 CA$.

Vena Res. possède 86 970 000 actions en circulation.

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TSX-V (VEM.V)FRANKFURT (V1R.F)
1,33-12.50%0,108+0.00%
TSX-V
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Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  - -
Volume var. 1 mois
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Produit Manganese - Zinc
Développe
Recherche Copper - Gold - Lead - Silver - Uranium
 
 
 
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