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Vena Resources Inc.

Publié le 18 décembre 2014

Vena Announces Positive High-Grade Results from Ongoing Drill Program at Esquilache Polymetallic Property

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Vena Announces Positive High-Grade Results from Ongoing Drill Program at Esquilache Polymetallic Property

Vena Announces Positive High-Grade Results from Ongoing Drill Program at Esquilache Polymetallic Property

Created on Thursday, 18 December 2014 03:00

Toronto, Ontario - Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM, Peru: VEM, Germany: V1RA, USA: VNARF) is pleased to announce the initial results of drilling at the 100% owned, silver-rich polymetallic Esquilache project located in Puno Department approximately 850 kilometres southeast of Lima, Peru.  To date, Vena has completed nine drill holes totaling 310 metres of the current drilling campaign which is expected to total 18 drill holes and up to 1,000 metres.  Current drilling has mainly focused on testing the Sepulveda Vein where six holes have been drilled and assay results have been received for the first four holes. The holes were targeted on the results from a channel sampling program spaced along the vein that was completed in 2012.  The Sepulveda holes were spaced at 25 metre intervals to test below the structure discovered in a previous channel sampling / trenches program.  Following is a summary of key intersects achieved so far in the first four Sepulveda Vein holes:

Principal Intersections (Ag)

Hole No.

From (m)

To (m)

Width (m)

Ag g/t

SEVDDHS14-01

13.50

26.00

12.50

75.64

SEVDDHS14-02

15.65

28.00

12.35

86.71

Including

21.40

23.40

2.00

232.00

SEVDDHS14-03

13.20

19.00

5.80

152.85

Including

13.20

15.20

2.00

217.00

SEVDDHS14-04

17.60

29.30

8.70

167.66

Including

20.50

22.00

1.50

314.00

And

25.20

26.30

1.10

222.00

All drill intercepts reported are down-hole lengths, not true widths.

The Sepulveda Vein crosses the ridge to the north of Cerro Creston. Silver mineralization occurs in a quartz breccia in a matrix of silica-barite. The structure strikes approximately N 50° E and dips 55° SE with widths up to 15 metres and is exposed over a strike length of 450 metres. Mineralization is predominantly silver with significant lead in sulfides with channel sample values ranging up to 17 ounces per ton silver.  The initial phase consisted of drilling six short holes (inclined at - 30° and - 60° NW) from three platforms sited immediately southeast of the structure.  The average width of the vein in the first four drill holes is 7.35 metres. There often are ancillary veinlets in the hanging wall and/or footwall of the principal structure that carry significant values in silver and lead.

The Esquilache property covers the mineralized core of a five kilometre diameter volcanic caldera that has been mined for silver/lead since the early Colonial period. The exposed structures on the property are characterized as part of a system of polymetallic, low to intermediate sulfidation, epithermal to mesothermal veins containing silver-lead-zinc-copper and significant values of gold. This first phase of the drill program will consist of a minimum of 1,000 metres of drilling designed to confirm the surface sampling results from the Sepulveda and Creston veins as well as the high grade drill intersection from the Mamacocha vein. The results will be the initial stage in calculating near surface mineral resources on the property, leading to an updated National Instrument 43-101 technical report in the first quarter 2015.  The Company has the objective of fast tracking a mining plan to exploit high grade reserves that can be mined by a combination of open pit and the extension of existing underground infrastructure.

This press release has been reviewed and approved by David Bent, P. Geo., Vena's Technical Advisor 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 Certimen S.A., 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 contact: Juan Vegarra, Chairman and CEO at 416 364 7739, ext. 120 or [email protected]or Martin Walter, President at 416 599 7363 or [email protected].

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

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by Vena.  Although Vena believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Vena can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in Vena's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2013 and the third quarter ended September 30, 2014 and its annual information form for the year ended December 31, 2013, which are available at www.sedar.com.  The forward-looking statements contained in this press release are made as of the date hereof and Vena undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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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)
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