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Last updated on April 17, 2014 at 1:21 EDT

Vena Announces Positive Results of Surface Sampling at the Esquilache Silver Project

January 15, 2013

TORONTO, Jan. 15, 2013 /CNW/ –  Vena Resources Inc. (the “Company” or
“Vena”) (TSX: VEM, Peru: VEM, Germany: V1RA, USA: VNARF) announces the
results of the initial surface sampling phase of the current
exploration program being conducted on the Esquilache silver project
located in southeastern Peru. The sampling confirmed the continuity of
high grade silver values in the surface outcrops of the Sepulveda,
Creston, Elvira, Katty and Julian veins with values up to 25 opt Ag
(ounces per tonne silver), 5.68% Pb (lead) and 1.45% Zn (zinc) and
complements the positive preliminary metallurgical test results that
were reported in a press release on January 7, 2013.

The current exploration program commenced with a compilation of
historical data of the mine including information from three thesis
presentations submitted to the Universidad Nacional San Agustin that
date from the early 1960′s when Hochschild was actively mining the
deposit. To date, systematic sampling (272 channel samples) of five of
the more prominent outcropping veins has been undertaken as the first
step in establishing resources amenable to exploitation by low cost
open pit mining. The program includes sampling of the mine dumps and
on-going metallurgical studies to maximize recoveries and concentrate
grades.

Based on this work, a planned drill campaign will test the near surface
potential of the principal veins with a series of short holes and will
also include eight deeper holes to test the potential for the
continuity of high grade silver at depth on the Sepulveda and Mamacocha
veins. The program is expected to total about 1,700 to 2,000 metres.

The Sepulveda vein is located on Cerro Creston and has been evaluated by
channel sampling of outcrops and trenches over a strike length of 450
metres. The transverse sampling was at 25 metre intervals and the best
section assayed 10 ounces per tonne (opt) Ag across a vein width of 8
metres. There were 20 sample sections and the elevation difference
between the lowest and highest is 130 metres. The accompanying
longitudinal section shows the drill plan to test for near surface open
pit resources and an initial series of four holes to test the
mineralization at depth. The projections of silver mineralization at
depth and the outline of underground workings is based on data in the
thesis of Alejandro Fundinaga Bedoya that was published in 1961. Table
1 shows the most significant results from the channel sampling program
on the vein.

Table 1 – Sepulveda Vein – Significant Channel Samples


    Trench Sample  Length Gold g/t Silver Oz Lead % Zinc %

     Tr-2  7003109   2.0     0.09     5.11    0.76   0.08

     Tr-2  7003111   2.0     0.06     10.55   0.15   0.02

     Tr-2  7003112   2.0     0.01     3.83    0.06   0.04

     Tr-2  7003117   1.1     0.01     4.15    5.68   1.15

     Tr-3  7003121   2.0     0.01     4.60    0.01   0.01

     Tr-3  7003122   2.0     0.01     4.63    0.01   0.01

     Tr-3  7003124   1.0     0.01     3.95    0.02   0.01

     Tr-5  7003136   2.0     0.01     4.57    0.10   0.01

     Tr-5  7003137   2.0     0.01     17.01   0.12   0.07

     Tr-6  7003138   2.0     0.01     3.14    0.04   0.04

     Tr-6  7003139   2.0     0.01     15.72   0.23   0.02

     Tr-6  7003141   2.0     0.02     4.63    0.14   0.02

     Tr-7  7003009   1.7     0.02     7.97    0.08   0.01

     Tr-7  7003011   1.7     0.02     12.25   0.06   0.02

     Tr-8  7003012   1.9     0.00     3.79    0.07   0.01

    Tr-10  7003018   0.9     0.01     14.80   0.17   0.01

    Tr-11  7003023   2.4     0.05     5.72    0.13   0.01

    Tr-11  7003025   1.5     0.03     8.81    0.05   0.00

    Tr-11  7003027   1.0     0.02     6.04    0.04   0.00

    Tr-12  7003028   1.3     0.05     7.81    0.10   0.01

    Tr-13  7003034   1.0     0.02     4.08    0.14   0.01

    Tr-20  7003075   1.3     0.00     4.95    0.04   0.00

    Tr-20  7003076   1.2     0.02     5.69    0.34   0.01

    Tr-20  7003077   2.6     0.01     3.09    0.10   0.01

    Tr-20  7003078   1.3     0.02     4.73    0.24   0.03

 

The Creston vein is also located on Cerro Creston approximately 300
metres to the southeast of the Sepulveda vein. It was sampled over a
strike length of 300 metres by 14 channel sample sites at 25 metre
intervals. The best section assayed 10.96 opt Ag across a vein width of
3.3 metres. The elevation difference between the lowest and highest
sample sites was 45 metres. Drilling is planned to test the near
surface open pit potential and also the vein at depth. Table 2 shows
the most significant results of the channel sampling of the Creston
vein.

Table 2 – Creston Vein – Significant Channel Samples


    Trench Sample  Length Gold g/t Silver Oz Lead % Zinc %

     Tr-1  7003418   2.0     0.03     4.98    0.28   0.01

     Tr-2  7003406   1.4     0.12     4.85    0.20   0.02

     Tr-4  7003401   2.2     0.16     10.96   1.26   0.04

     Tr-9  7003377   1.3     0.05     3.38    0.65   0.22

     Tr-9  7003378   2.0     0.14     4.15    0.18   0.18

 

Three of the more prominent veins at Cerro Mamacocha were also sampled
during the program. Systematic channel sampling of outcrop and hand
excavated trenches demonstrates the continuity of the mineralization
along the veins with individual samples having grades up to 25 opt Ag,
1.59% Pb and 1.45% Zn. A drill plan has been designed to test the
Mamacocha vein at depth along strike from a successful drill hole
completed in 2011. The Mamacocha vein is the southwestern extension of
the combined Katty and Julian structures and can be traced for about
300 metres before it disappears under overburden. Table 3 shows the
most significant results of the channel sampling of the three veins.


    Table 3 - Elvira, Katty & Julian Veins - Significant Channel

           Samples                                   

    Elvira Vein                                      

    Trench Sample  Length Gold g/t Silver Oz Lead % Zinc %

     Tr-3  7003443   1.6     0.28     5.98    0.18   0.40

     Tr-3  7003444   2.0     0.03     1.56    0.02   1.45

     Tr-4  7003449   1.7     0.10     7.04    0.09   0.33

     Tr-7  7003461   2.0     0.14     4.73    0.03   0.00

     Tr-7  7003463   2.4     0.10     5.66    0.05   0.00

    Tr-10  7003472   4.0     0.33     6.66    0.57   0.02

    Katty Vein                                       

    Trench Sample  Length Gold g/t Silver Oz Lead % Zinc %

     Tr-1  7003477   2.0     0.04     3.47    0.40   0.01

     Tr-1  7003478   0.9     0.06     4.21    0.55   0.01

     Tr-6  7003494   0.5     0.63     9.81    0.12   0.02

     Tr-8  7003498   1.3     0.43     25.03   0.64   0.02

     Tr-9  7003501   0.8     0.08     5.11    0.54   0.04

    Tr-10  7003503   1.1     0.71     15.29   0.42   0.01

    Julian Vein                                      

    Trench Sample  Length Gold g/t Silver Oz Lead % Zinc %

     Ch-2  7003507   1.2     0.21     19.56   0.21   0.00

     Ch-4  7003509   2.0     0.23     5.40    0.91   0.01

     Ch-5  7003511   1.2     0.07     1.82    1.59   0.01

 

During the exploration program a total of 23 mine dumps were evaluated
by pits and trenches that were mainly excavated by using a backhoe to
systematically expose profiles for sampling. The material is dominantly
polymetallic with values in silver, lead, zinc, copper and gold. Table
4 shows the average grades that were calculated for the individual
dumps using the results of the 322 samples that were collected.
Topographic surveying is presently underway to provide a calculation of
the tonnage of the dumps.


    Table 4 - Average Grades of the Mine Dumps                           

                        Samples                       Grades Average
                DUMP    per Dump
                                 Gold g/t Silver Oz. Copper % Lead % Zinc %

    1      Azufrada 1        2      0.08      1.83      0.10   3.46  14.46

    2      Azufrada 2        3      0.04      0.87      0.13   1.97   8.08

    3      Azufrada 3        3      0.06      1.38      0.10   4.12  18.80

    4     Blanca Norte       3      0.31      1.79      0.03   2.94   1.18

    5       Crestón 1        7      0.27      4.03      0.09   4.44   3.82

    6        Farallón      111      0.44      3.55      0.28   1.76   2.47

    7       Mamacocha        6      0.28      3.52      0.36   0.14   0.44

    8  Mesa de Plata 1       4      0.79      7.36      0.07   2.10   4.76

    9  Mesa de Plata 2       4      0.15      1.98      0.14   1.13   1.70

    10   Mesa de Plata       6      0.28      4.25      0.07   2.26   4.87

    11 Victoria Nivel 6      8      0.27      4.89      0.20   2.48   1.19

    12  Nivel 8 Blanca       6      0.10      2.74      0.05   3.91   0.59

    13  Nivel 9 Blanca       5      0.41      2.32      0.07   3.47   0.17

    14 Nivel 11 Blanca       9      0.27      2.92      0.04   8.17   2.33

    15    Quelleumina       33      3.18      2.70      0.19   0.79   1.55

    16       Yanacaca       17      0.39      5.88      0.19   0.79   1.55

    17    San Antonio       10      0.04      9.81      0.03   0.68   0.58

    18   San Antonio I       5      1.38      6.80      0.02   0.48   0.27

    19       Konawire        8      0.21      2.56      0.06   4.69   4.65

    20    Split Blanca       6      0.24      1.36      0.05   3.29   1.11

    21         Hardy        49      0.12      1.36      0.08   0.79   1.71

    22       Hardy B         3      0.05      0.30      0.06   0.15   0.36

    23      Sepulveda       14      0.02      2.21      0.01   0.20   0.13

 

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.

 

SOURCE Vena Resources Inc.

Image with caption: “Longitudinal Section Sepulveda Vein (CNW Group/Vena Resources Inc.)”. Image available at: http://photos.newswire.ca/images/download/20130115_C5911_PHOTO_EN_22576.jpg


Source: PR Newswire