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Vena's Intersects 5.85 Metres of 506 gpt AG in Veta Mamacocha and Extends the Ivet/Elvira Zone to Depth at Esquilache Project
Published : July 25, 2011
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Mots clés associés :   Copper | Facebook | Manganese |

TORONTO, ONTARIO--(Marketwire - July 25, 2011) -


Vena Resources Inc. ("Vena" or the "Company") (News - Market indicators)(LIMA: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 provide additional drill results from the recently completed program at the Esquilache project. The latest results include an intersection in ESH- 31-2011 of 5.85 metres of 505.9 grams per tonne (gpt) Ag from the Mamacocha vein as well as an intersection in ESH- 30-2011 of 2.95 metres of 254.5 gpt Ag, 1.01% Cu, 7.41% Pb and 11.35% Zn within the Ivet/ Elvira structure at a depth of 100 metres below the Mamacocha adit.

ESH- 30-2011 188.15 189.23 1.08 0.10 47.6 1.5 0.35 2.17 2.28
ESH- 30-2011 189.23 191.10 1.87 0.12 374.0 12.0 1.40 10.43 16.59
Average 188.15 191.10 2.95 0.11 254.5 8.2 1.01 7.41 11.35
ESH- 31-2011 57.50 59.00 1.85 0.12 218.0 7.0 0.02 0.04 0.45
ESH- 31-2011 59.00 61.00 2.00 0.13 499.0 16.0 0.02 0.13 0.26
ESH- 31-2011 61.00 63.00 2.00 0.24 779.0 25.1 0.01 0.10 0.13
Average 57.50 63.00 5.85 0.16 505.9 16.3 0.02 0.09 0.28

The 2011 drill campaign consisted of 18 holes totaling 3,159.6 metres and brings the grand total drilled by Vena to 5,709.6 metres in 31 drill holes. Vena has now completed the expenditure requirement to earn a 60% ownership of the San Antonio de Esquilache property under the terms of the option with Minera Silex Peru S.R.L (Silex).

The Ivet/Elvira structure is the feeder zone to the Franja de Oro stockwork gold-silver mineralization. The structure is a breccia vein striking NE-SW and dipping steeply NW that has been traced through mapping and drilling approximately 750 metres along the western flank of Cerro Mamacocha. In the area of the most intensive sectional drilling, the structure has a width of 12 to 17 metres and is hosted in andesitic volcanics. Hole ESH- 30-2011 was drilled on the same section as holes ESH- 24 and ESH- 27 and intersected the structure at a depth of 100 metres below the Mamacocha adit. At this depth, the structure is hosted in microdiorite and is seen as a series of distinct veins and breccia zones as opposed to the well defined single structure that is evident in the overlying volcanics. The high grade intersection in the interval 188.15 to 191.10 metres in ESH- 30 reported above is correlated to the footwall mineralization in hole ESH- 24 that was reported in the Company's press release of June 11, 2011 and is about 155 metres deeper.

The Veta Mamacocha is located approximately 300 hundred metres east of the Ivet/Elvira structure and is the eastern boundary of a mega-cymoid that is the main structural control of mineralization at Cerro Mamacocha. The breccia vein has been traced for approximately 500 metres on surface from the junction of the Julian and Katy veins to the quebrada Santa Elena and includes the Santa Rosa vein. The structure changes strike and dip in accordance with the cymoidal flexure. In the area of ESH- 31 it strikes at N40°E and dips -55° SE and at surface is observed as a 30 metre wide silica-clay-adularia alteration zone in andesitic tuff. The hole intersected the structure at a depth of about 50 metres below surface and was completely oxidized with abundant iron/ manganese oxides. There is an old adit commencing from quebrada Santa Elena that comes to within 10 metres of intersecting the Veta Mamacocha at a point about 60 metres deeper and 140 metres to the southwest of the intersection in hole ESH- 31.

Juan Vegarra, CEO of Vena Resources Inc., stated, "The excellent results obtained from this second round of drilling have shown the potential for high grade polymetallic resources within two very strong structures being explored at Cerro Mamacocha. While not forgetting the large scale breccia/ porphyry targets on the property, the priority will shift to fast-tracking the exploration of these structures through an aggressive drill campaign complemented by rehabilitation and extending existing underground workings. We are very fortunate to have favorable topography and strategically located historical workings that will greatly reduce the cost of assessing the economic potential of Cerro Mamacocha."

Vena is currently finishing the mapping and surface channel sampling of the Veta Mamacocha structure. Planning is underway for the next (60% Vena/ 40% Silex) major exploration campaign at Esquilache. Although the main focus will be on following up the high grade intercepts in the Ivet/Elvira and Veta Mamacocha structures there are other untested targets such as the copper-molybdenum porphyry showing northwest of Cerro Creston that will also be drilled. In addition to sectional drilling of the two breccia vein structures, limited underground work will be undertaken to gain access to high grade material for metallurgical testing and to determine continuity of mineralization. In the case of the Ivet/Elvira structure, access to the area of high grade (1.20 metres of 11.02 gpt Au and 2,293 gpt Ag) at the end of hole ESH- 24 will be via rehabilitation of the northern cross-cut near the end of the Mamacocha adit. The Veta Mamacocha structure will be accessed by rehabilitating the Santa Elena (Cobremina) adit and extending the working by about 30 metres. Two deep holes are planned to test the Mercedes breccia/ porphyry zone at a depth of approximately 600 metres.

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. All core samples are being prepared and analyzed by CIMM Peru, an ISO certified laboratory in Lima, Peru. The program is designed to include a comprehensive analytical quality control routine comprising the systematic use of standards, blanks and field duplicate samples. A secondary laboratory will be used for check assaying.

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

To view the "Franja de Oro & Veta Mamacocha Structures Esquilache Project" map, please visit the following link: http://media3.marketwire.com/docs/Esquilache.JPG.

Statements in this press release regarding the Company's business, plans, intentions, proposed Offering and use of proceeds thereof, 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. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Information identifying risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's current Annual Information Form and its other filings with the various Canadian Securities Regulators, which are available online at www.sedar.

Shares Outstanding: 124,601,658

Fully-Diluted: 155,813,300

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

Vena Resources Inc.

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.


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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