Ventana Announces New Gold Discovery in Colombia-106.5 Meters of 7.81 G/T Au
Ventana Gold Corp. (“Ventana” or the “Company”) is pleased to provide the first series of drill results from its ongoing gold exploration program in the California-Vetas gold mining district located in northeast Colombia. Ventana controls a 3,892 hectare land position in the district.
Ventana’s exploration activities and all drilling to date has been concentrated on its 182.4 – hectare La Bodega property situated immediately adjacent and along strike to Greystar Resources’ Angostura gold deposit.
Ventana initiated diamond core drilling at La Bodega in August, 2006 and to date has drilled 84 drill holes totalling 20,600 meters. Assay results with completed QA/QC verification have been compiled for the first 42 drill holes, which are reported upon here. Assay results of subsequent drill holes will be reported as QA/QC protocols are completed and verified. The La Bodega property had never been drilled prior to Ventana’s acquisition.
Core drilling by Ventana tested two areas within an 850-meter strike length extending south-westerly from the property line shared with Greystar. The first 300 meters comprises the La Bodega zone, hosting the namesake La Bodega mine (26 drill holes). The second area is the La Mascota zone where 300 meters of strike length was tested with 16 drill holes. A 250-meter gap is present between these two areas, where due to difficult drill access, only a few initial drill holes were recently completed, results of which are pending. Drill pad spacing ranges from 25 to 100 meters and averages 50 meters with several holes drilled at different inclinations from each pad. A drill hole location map and a complete listing of drill intercepts from the first 42 holes is available at Ventana’s web site: www.ventanagold.com.
LA BODEGA ZONE
The La Bodega zone has been shown to contain appreciable intersections of potentially ore grade material over composite true widths of 60 to 150 meters. The mineralization in the La Bodega zone is essentially closed off to the northeast by the property line but remains open in all other directions. It has thus far been tested over a strike length of 300 meters and to depths of up to 300 meters. A recently discovered high-grade structure located in the footwall of the main zone (Holes 28 and 30) opens up additional expansion potential.
La Bodega Zone: Select Individual Drill Hole Intercepts – listed from NE to SW ————————————————————————– INTERVAL Au DRILL HOLE NO. FROM TO (METERS) (grams/tonne) ————————————————————————– DDH-06-LB-014 35.00 115.90 80.90 8.62 ————————————————————————– DDH-07-LB-023 41.00 153.00 112.00 3.14 ————————————————————————– DDH-06-LB-001 29.00 135.45 106.45 7.81 ————————————————————————– DDH-07-LB-019 101.85 177.80 75.95 2.58 ————————————————————————– DDH-07-LB-041 187.00 237.00 50.00 3.04 ————————————————————————– DDH-07-LB-028 101.00 134.00 33.00 4.96 ————————————————————————– DDH-07-LB-030 116.00 145.00 29.00 5.80 ————————————————————————–
LA MASCOTA ZONE
The La Mascota zone has been shown to contain narrower, though generally higher grade intersections of potentially ore grade material than that observed in the La Bodega zone with estimated true composite widths ranging from 30 to 80 meters. The mineralization in the La Mascota zone has been tested over a strike length of 300 meters and to a depth of 100 meters and remains open along strike in both directions and at depth.
La Mascota Zone: Select Individual Drill Hole Intercepts – listed from NE to SW ————————————————————————– INTERVAL Au DRILL HOLE NO. FROM TO (METERS) (grams/tonne) ————————————————————————– DDH-07-LB-042 121.40 183.00 61.60 2.15 ————————————————————————– DDH-06-LB-006 45.77 73.29 27.52 8.26 ————————————————————————– DDH-07-LB-017 21.00 48.00 27.00 12.83 ————————————————————————– DDH-06-LB-004 52.00 99.00 47.00 7.04 ————————————————————————– DDH-07-LB-036 141.00 168.40 27.40 17.44 ————————————————————————–
A complete table listing the drill results for the first 42 drill holes from both the La Bodega and La Mascota zones can be found at Ventana’s web site. Drill intercepts listed both on the complete table on the website and the selected intervals above are based on a 0.5 gram/tonne Au cut-off with no upper cut. Please note that drill intercept lengths listed are down-hole lengths thus reflecting apparent widths of mineralization, the true widths generally range between 60% to 100% of the reported down-hole lengths.
Gold mineralization at the La Bodega property is hosted within the same broad, northeast-trending fault zone as the adjoining Angostura deposit, occurring as a series of N-NW-dipping parallel sheeted vein zones, breccias and mineralized faults situated within an envelope of pervasively phyllic altered and variably silicified gneiss and intrusive rocks.
Ventana’s drill program at La Bodega currently has two core drills operating with plans to add two additional drills with the aim of defining a National Instrument 43-101 (“NI 43-101″) compliant resource estimate in 2008. Additional drill targets have been developed within the property holdings and will also be tested.
REVIEW BY QUALIFIED PERSON, QUALITY CONTROL AND REPORTS
The results of the company’s drilling program have been reviewed, verified and compiled by Jon Lehmann, L.P.G., a qualified person for the purpose of NI 43-101. Mr. Lehmann has over 25 years of mineral exploration experience, is a Licensed Professional Geologist in the State of Washington and a member in good standing of the Canadian Institute of Mining and Metallurgy.
The company utilizes a rigorous QA/QC program with respect to sampling procedures including chain-of-custody tracking of core until shipment to the analytical laboratory. Core is sawn in half with one half shipped to an independent prep lab and samples shipped for analysis to ACME Analytical Laboratories Ltd., an ISO 9001:2000 and ISO 17025 certified laboratory in Vancouver, B.C. The remainder of the core is stored in a secured storage facility for future assay verification. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance and mineralized intervals are re-assayed at Inspectorate America Corp. analytical laboratory in Sparks, Nevada.
Updated, independent NI 43-101 Technical Reports have recently been prepared by EurGeol Miller O’Prey, PGeo, for the La Bodega project and the nearby California-Vetas project to provide a current review of the exploration activities that have occurred on the projects.
ABOUT VENTANA GOLD CORP. – Ventana currently holds 3,892 hectares of exploration property in the California-Vetas gold district in Colombia, of which 3,710 hectares are wholly-owned with the remainder under option to acquire a 100% interest. The Company is currently drilling at La Bodega, a property lying adjacent to Greystar Resources’ Angostura gold-silver deposit.
On behalf of the Board of Directors of Ventana,
Donald B. Clark President and Director
FORWARD LOOKING STATEMENTS
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Ventana’s latest quarterly report and management discussion and analysis. Ventana assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
No stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news release.
Contacts: Ventana Gold Corp. Marlo Hamer-Jackson Investor Relations Manager (604) 687-1717 (604) 687-1715 (FAX) Email: firstname.lastname@example.org Website: www.ventanagold.com
SOURCE: Ventana Gold Corp.