VENTANA ANNOUNCES ADDITIONAL DRILL RESULTS - LA BAJA INTERSECTS 17 METRES OF 6.55 GRAMS PER TONNE GOLD AND LA MASCOTA CONTINUES TO DEMONSTRATE SIGNIFICANT RESULTS
VANCOUVER, Nov. 30 /PRNewswire/ - Ventana Gold Corp. (TSX: VEN) ("Ventana" or the "Company") is pleased to announce results from 13 of 14 additional exploration holes drilled at the La Bodega gold project in Colombia. A complete listing of drill intercepts and details on the cross sections are available on the Company's website at www.ventanagold.com.
Highlights
- La Mascota hole 329 returned 32 metres of 24.6 g/t gold, hole 331 returned 45 metres of 24.5 g/t gold, and hole 338 returned 20 metres of 34 g/t gold and 28 metres of 11.5 g/t gold, hole 345 returned 103 metres of 4.1 g/t gold, and hole 346 returned 23 metres of 8.9 g/t gold
- La Mascota SW Extension hole 330 returned 3 metres of 16.5 g/t gold and 91 metres of 1.3 g/t gold
- La Baja hole 335 returned 17 metres of 6.55 g/t gold
Details
Ten of the new holes (326, 329, 331, 336, 338, 342, 343, 345, 346 and 349) are infill holes from La Mascota where 25-metre infill drilling is ongoing to upgrade resources from the inferred to indicated category. The infill drilling continues to return excellent results confirming the continuity of mineralization and delineating periodic bonanza grade sectors within the deposit. Holes of particular note include hole 329 on section 9625E, which returned 32 metres of 24.62 grams per tonne gold and hole 331 on section 9675E, which returned 45 metres of 24.51 grams per tonne gold. Hole 338 on section 9575E intersected two good intervals, 28 metres of 11.45 grams per tonne gold and 20 meters of 34.33 grams per tonne gold. Further, hole 346 on section 10000 intersected 23 metres of 8.86 grams per tonne at the very northeast end of La Mascota toward the La Bodega zone. The La Mascota deposit remains open to expansion along strike in both directions as well as down-dip. Please see attached map for further detail.
The Company continues to intercept better than average grade mineralization on the La Baja property. Hole 335 on section 9050 intersected 17.16 metres of 6.55 grams per tonne gold, which extends mineralization down-dip from the previously reported hole 322 that intercepted 19 metres of 4.41 grams per tonne gold. These results continue to confirm the extension of the La Mascota structure to the southwest through La Baja.
Hole 330 on section 8650E in La Mascota's SW Extension intersected a thick and consistent interval of 91.18 metres of 1.31 grams per tonne gold. Drilling is still sparse in this area but the average resource grade in this area is similar to the main La Mascota zone.
Drilling has only recently resumed at Las Mercedes. Hole 339 on section 9950-2 intercepted the mineralized zone with a series of lower grade structures of which the longest interval is 16 metres grading 1.89 grams per tonne gold.
Drilling continues throughout the La Bodega project with ten drills which are engaged in exploration of newer target areas and infill to upgrade the initial resource from inferred to indicated and measured.
Select intercepts from the reported drill holes are reported below:
| Drill Hole # | From (metres) |
To (metres) |
Drill Intercept (metres) |
True Width |
Gold (g/t) |
Silver (g/t) |
Copper (%) |
||||
| DDH-10-LB-326 | 65.00 | 69.00 | 4.00 | 2.60 | 2.74 | 35.57 | 0.03 | ||||
| 140.00 | 141.00 | 1.00 | 0.70 | 2.04 | 16.80 | 0.09 | |||||
| 166.00 | 167.00 | 1.00 | 0.70 | 11.75 | 102.00 | 0.56 | |||||
| 187.00 | 193.90 | 6.90 | 4.50 | 2.08 | 20.83 | 0.09 | |||||
| 216.30 | 243.84 | 27.54 | 18.00 | 2.35 | 25.02 | 0.30 | |||||
| INCLUDES | 226.10 | 229.00 | 2.90 | 1.90 | 7.06 | 28.92 | 0.15 | ||||
| 267.00 | 269.00 | 2.00 | 1.30 | 2.12 | 4.49 | 0.11 | |||||
| DDH-10-LB-329 | 35.05 | 36.00 | 0.95 | 0.60 | 6.61 | 17.00 | 0.02 | ||||
| 44.00 | 45.00 | 1.00 | 0.60 | 2.00 | 102.00 | 0.14 | |||||
| 67.00 | 67.97 | 0.97 | 0.60 | 14.30 | 7.00 | 0.05 | |||||
| 99.70 | 103.63 | 3.93 | 2.50 | 3.03 | 13.51 | 0.05 | |||||
| 116.00 | 124.00 | 8.00 | 5.10 | 3.56 | 23.09 | 0.12 | |||||
| 180.30 | 183.00 | 2.70 | 1.70 | 3.65 | 18.29 | 0.03 | |||||
| 217.00 | 218.00 | 1.00 | 0.60 | 2.63 | 2.64 | 0.03 | |||||
| 226.00 | 258.00 | 32.00 | 20.10 | 24.62 | 67.50 | 0.22 | |||||
| INCLUDES | 238.00 | 239.00 | 1.00 | 0.60 | 113.50 | 86.00 | 0.82 | ||||
| AND | 250.10 | 251.30 | 1.20 | 0.80 | 226.00 | 36.00 | 0.14 | ||||
| DDH-10-LB-330 | 11.27 | 14.32 | 3.05 | 2.10 | 16.51 | 235.85 | 0.04 | ||||
| 23.90 | 27.43 | 3.53 | 2.40 | 9.42 | 12.04 | 0.04 | |||||
| 139.00 | 230.18 | 91.18 | 60.70 | 1.31 | 27.64 | 0.08 | |||||
| DDH-10-LB-331 | 115.00 | 119.00 | 4.00 | 2.00 | 2.19 | 20.94 | 0.28 | ||||
| 123.50 | 124.35 | 0.85 | 0.42 | 8.11 | 50.00 | 0.32 | |||||
| 175.00 | 182.00 | 7.00 | 3.45 | 2.13 | 14.88 | 0.07 | |||||
| 204.00 | 206.00 | 2.00 | 1.00 | 3.34 | 5.03 | 0.02 | |||||
| 219.00 | 225.00 | 6.00 | 3.00 | 9.67 | 35.11 | 0.11 | |||||
| 268.10 | 304.00 | 35.90 | 17.60 | 3.16 | 12.90 | 0.07 | |||||
| INCLUDES | 279.80 | 290.00 | 10.20 | 5.00 | 8.21 | 39.27 | 0.20 | ||||
| 400.00 | 445.00 | 45.00 | 22.00 | 24.51 | 89.86 | 0.30 | |||||
| INCLUDES | 410.80 | 429.00 | 18.20 | 8.90 | 52.29 | 173.91 | 0.51 | ||||
| DDH-10-LB-335 | 184.00 | 201.16 | 17.16 | 11.10 | 6.55 | 163.84 | 0.15 | ||||
| INCLUDES | 185.00 | 187.00 | 2.00 | 1.30 | 14.76 | 27.58 | 0.14 | ||||
| 262.00 | 274.00 | 12.00 | 7.80 | 2.68 | 14.51 | 0.05 | |||||
| INCLUDES | 265.70 | 266.70 | 1.00 | 0.70 | 16.25 | 73.00 | 0.18 | ||||
| DDH-10-LB-336 | 107.00 | 108.10 | 1.10 | 0.80 | 3.03 | 2.83 | 0.01 | ||||
| 204.00 | 206.00 | 2.00 | 1.40 | 2.13 | 2.04 | 0.06 | |||||
| 234.00 | 248.10 | 14.10 | 10.10 | 2.05 | 4.05 | 0.02 | |||||
| INCLUDES | 239.00 | 242.20 | 3.20 | 2.30 | 5.30 | 7.52 | 0.02 | ||||
| DDH-10-LB-338 | 78.00 | 81.00 | 3.00 | 1.90 | 9.46 | 94.74 | 0.10 | ||||
| 163.00 | 191.00 | 28.00 | 17.50 | 11.45 | 54.14 | 0.22 | |||||
| INCLUDES | 163.00 | 166.60 | 3.60 | 2.30 | 66.14 | 234.25 | 0.80 | ||||
| 197.00 | 217.00 | 20.00 | 12.60 | 34.33 | 16.84 | 0.04 | |||||
| INCLUDES | 210.00 | 213.00 | 3.00 | 1.90 | 208.42 | 36.67 | 0.06 | ||||
| DDH-10-LB-339 | 111.00 | 112.00 | 1.00 | 0.60 | 2.53 | 3.94 | 0.05 | ||||
| 115.00 | 131.06 | 16.06 | 9.45 | 1.89 | 9.04 | 0.08 | |||||
| DDH-10-LB-342 | 31.00 | 36.88 | 5.88 | 4.20 | 2.15 | 12.78 | 0.02 | ||||
| 89.00 | 91.43 | 2.43 | 1.70 | 4.08 | 2.95 | 0.02 | |||||
| 129.00 | 135.63 | 6.63 | 4.70 | 2.15 | 13.61 | 0.10 | |||||
| 247.00 | 248.00 | 1.00 | 0.70 | 4.95 | 8.00 | 0.21 | |||||
| 267.00 | 279.00 | 12.00 | 8.50 | 18.36 | 8.28 | 0.07 | |||||
| INCLUDES | 274.80 | 278.00 | 3.20 | 2.30 | 66.49 | 27.44 | 0.23 | ||||
| 325.00 | 330.70 | 5.70 | 4.00 | 15.49 | 25.46 | 0.23 | |||||
| INCLUDES | 329.19 | 330.70 | 1.51 | 1.10 | 50.40 | 30.00 | 0.21 | ||||
| DDH-10-LB-343 | 43.00 | 52.00 | 9.00 | 4.50 | 9.29 | 42.05 | 0.16 | ||||
| INCLUDES | 51.00 | 52.00 | 1.00 | 0.50 | 56.50 | 12.00 | 0.03 | ||||
| 124.00 | 136.00 | 12.00 | 6.00 | 2.95 | 51.29 | 0.84 | |||||
| INCLUDES | 131.06 | 135.02 | 3.96 | 2.00 | 6.16 | 119.61 | 1.95 | ||||
| 148.56 | 154.00 | 5.44 | 2.72 | 2.07 | 8.17 | 0.08 | |||||
| DDH-10-LB-345 | 7.62 | 8.83 | 1.21 | 0.80 | 2.52 | 10.10 | 0.02 | ||||
| 158.00 | 261.00 | 103.00 | 66.40 | 4.06 | 22.55 | 0.14 | |||||
| INCLUDES | 244.25 | 251.46 | 7.21 | 4.60 | 21.26 | 61.21 | 0.19 | ||||
| DDH-10-LB-346 | 0.00 | 9.14 | 9.14 | 5.80 | 3.70 | 60.45 | 0.05 | ||||
| 62.00 | 64.00 | 2.00 | 1.20 | 3.09 | 2.54 | 0.04 | |||||
| 84.00 | 107.00 | 23.00 | 13.70 | 8.86 | 21.74 | 0.19 | |||||
| INCLUDES | 101.00 | 104.00 | 3.00 | 1.80 | 54.47 | 53.67 | 0.19 | ||||
| DDH-10-LB-349 | 0.00 | 13.40 | 13.40 | 6.90 | 4.48 | 68.96 | 0.01 | ||||
| ABANDONED PRIOR TO TARGET DEPTH | |||||||||||
Drill intercepts are based on a 0.5 gram/tonne gold cut-off with no upper cut. Drill intercept lengths are down-hole lengths of mineralization with true widths calculated assuming a 70 degree dip for the mineralized structure.
Review by Qualified Person, Quality Control and Reports
The results of Ventana's drilling program have been reviewed, verified and compiled by Jon Lehmann, L.P.G., a qualified person as defined by National Instrument 43-101 (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.
To ensure reliable sample results Ventana has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and sawed in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent local laboratory established by a joint effort between the regional environmental permitting agency and the German Geological Survey, and at the Colombian preparation laboratory of ALS Chemex Laboratories. Prepared samples are direct-shipped to ALS Chemex Laboratories in Lima, Peru, an ISO 9001:2000 certified laboratory, for analysis.
Independent NI 43-101 technical reports have been prepared by Samuel Engineering, Inc., dated May 1, 2010 for the La Bodega project and by EurGeol Miller O'Prey, P.Geo., dated June 14, 2008 for the nearby California-Vetas project, to provide an updated review of the exploration activities that have occurred on the projects. These reports are posted on Ventana's website at www.ventanagold.com.
About Ventana
Ventana is a Vancouver-based mineral exploration and development company with mineral rights to 4,590 hectares of exploration property in northeastern Colombia. The Company has two project areas, La Bodega and Cal-Vetas, of which the flagship La Bodega project contains multiple high-grade zones of gold, silver and copper mineralization. Ventana has announced the results to the project's scoping study and completed its first inferred mineral resource which includes 27 million tonnes grading 3.9 grams per tonne gold, 21.5 grams per tonne silver, and 0.14% copper for a total of 3.5 million ounces of gold, 19.2 million ounces of silver and 84.9 mllion pounds of copper. There is significant potential to expand the resource and the Company intends to continue aggressive exploration at the project both from surface and underground.
Ventana's shares trade on the Toronto Stock Exchange under the symbol VEN.
Cautionary Statement Regarding Forward-looking Information
Certain of the statements made and information contained in this press release may constitute forward-looking information within the meaning of applicable securities legislation. All information and statements which are not historical fact constitute forward-looking information and, in many cases, can be identified by words such as "may", "will", "expect", "plan", "anticipate", "believe", "estimate", "potential", or other similar terminology. The forward-looking information contained in this press release is based on the reasonable expectations and beliefs of management as at the date of this press release and involves numerous assumptions, known and unknown risks and uncertainties, both general and specific to Ventana and the industry in which the Company operates. Such assumptions, risks and uncertainties include, but are not limited to future prices of gold, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated as well as those factors disclosed in Ventana's documents filed from time to time with the securities regulators in the provinces of British Columbia, Alberta and Ontario. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Company, or industry results, may vary materially from those described in this press release. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as otherwise required by law, Ventana does not intend to and assumes no obligation to update or revise forward-looking information, whether as a result of new information, plans, events or otherwise.
SOURCE Ventana Gold Corp.
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