Vena Announces Positive Metallurgical Test Results from the Esquilache Silver Project

Jan 7, 2013

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.

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.