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Vena Confirms High-Grade Polymetallic Structures at Azulcocha Mine
Published : March 01, 2012
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TORONTO, ONTARIO--(Marketwire - March 1, 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 Azulcochamining S.A., a company owned by Vena and Trafigura Beheer B.V. (70/30) has initiated the testing phase of the processing plant for the Azulcocha zinc mine. The testing of the mill's construction quality coincides with the completion of the initial phase of the tailings impoundment that has been designed to be expanded as required in a series of stages to a maximum capacity of about 8 million tonnes. Vena is awaiting final government construction inspection before commissioning mill and underground operation at full capacity.

Mr. Juan Vegarra, Chairman and CEO of Vena stated, "We are striving to double the mill capacity and to double the near-mine resources as soon as possible. Polymetallic systems like Fierromina and a series of newly discovered high-grade veins are welcome news as we can foresee significant credits from silver, gold, copper and lead mineralization improving the economics of the overall project."

As part of the exploration of the mine property, a 2 metre x 2 metre adit is being driven on the Fierromina structure that is host to surface showings of high grade zinc. The adit is presently at 29 metres following the N20ºE striking Fierromina transverse fault and is designed to explore beneath the main outcropping sulfide lens that assays up to 25% zinc at surface. The objective is to explore for near term additional resources both along the structure and within potential manto deposits that are oblique to the structure where sulfides have been deposited in favorable sedimentary beds in rocks that form the hanging wall of the Azulcocha mine as shown in the attached map.

Channel samples were cut in the walls and back (two samples across the back) of the adit at approximately 2 metre intervals measured from the portal except in cases where there was no visible mineralization. The mineralization is dominantly sphalerite/ galena in a quartz gangue and in contrast to the mine there are irregular high values in silver. The best zone to date has been in the interval from 7 metres to 22 metres measured from the portal that has values up to 17.5 % Zn, 4.8 % Pb and 62.8 g/t Ag. The true width of the zone will not be known until cross cuts have been driven into the NW and SE sides of the adit.

By continuing to drive the Fierromina adit an additional 135 metres to the north it will be possible to intersect another mineralized structure (Vein 02) that has been sampled in outcrop and shallow trenches over a horizontal distance of approximately 800 metres between the Fierromina and Laguna faults. This mineralized structure strikes at N65ºW and has an average dip of 72ºNE with widths varying from 0.30 to 4.0 metres and an average width of 1.45 metres. A total of 90 samples were taken from the trenches and outcrops with values ranging from geochemically anomalous to a peak values of 0.35 g/t Au, 72.3 g/t Ag, 309 ppm Cu, 8.35% Mn 1.02% Pb and 19.99 % Zn.

David Bent, Vena's Vice President of Exploration stated, "Now that we can literally see the end of the tunnel in bringing the Azulcocha mine into production and the rainy season is abating, the geology staff can accelerate this exciting task of identifying new resources to increase the mine life and mill capacity. The program will include targets within the mine and near the mine as well as an assessment of the 14,600 hectares of prospective land that we hold in the Azulcocha-Cercapuquio corridor. Targets will be prioritized in accordance with their potential to provide near term resources that can be fast tracked to production to provide feed for the scalable mill." 

To view the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/vena31.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, 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.

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

Vena Resources
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%
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Produit Manganese - Zinc
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Recherche Copper - Gold - Lead - Silver - Uranium
 
 
 
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