Vena Announces Underground Drill Program at Azulcocha Mine
TORONTO, ONTARIO -- (Marketwire) -- 11/11/10 -- Vena Resources Inc. (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R)(OTCBB: VNARF), is pleased to announce that an underground drill program will commence on the Azulcocha Mine with the intention to upgrade known resources and to increase the resources at depth and along the eastern flank of the ore body. A contract has been signed with Andacollo Servicios de Perforacion S.A. to mobilize a drill to the mine site for a total of 1,717 metres of diamond core drilling in 22 holes from eight underground stations. In preparation for the drill program, the Company has completed 200 metres of underground development work.
The main purpose of the current drill program is to:
-- complete an infill drilling program to refine the first year mine plan
at levels 00 and -40, with grades of zinc ore from 5% to 40%
-- increase the mineral resources at depth as well as to reconfirm drill
data of the old Gran Bretana mine that contained several intersects of
up to 14% of zinc
-- increase the mineral resources along the eastern zone where Vena
Resources drilled underground in 2007 and intersected two sections of
9.9 metres and 8.75 metres with zinc grades of 15% and 8% respectively
The current drill program will commence the week of November 15th and should be completed mid-January 2011.
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 will be 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.
To view the 'Azulocha Exploration Program 2010 Map', please visit the following link:
http://media3.marketwire.com/docs/azulocha_exploration2010.pdf
For further information on Vena Resources, please visit the Company website at www.venaresources.com.
About Vena Resources
Vena Resources Inc. is a Canadian mining company focused on the exploration and development of Peru's mineral potential. Employing a model of diversification across metals and regions in Peru to mitigate investment risk, the Company consists of four divisions: Mining, Clean Energy, Precious Metals and Base Metals. Together with the Company's strategic partners, Cameco, Gold Fields and Trafigura, Vena will advance its significant portfolio of almost 73,000 hectares this year. Through its board of directors and advisors, Vena Resources possesses a unique quality of skills and experience in management, mining and finance globally.
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.
Shares Outstanding: 97,004,965
Fully-Diluted: 119,927,477
The TSX does not accept the responsibility for the adequacy or accuracy of this release.
Contacts:
Vena Resources Inc.
Juan Vegarra
Chairman & CEO
(416) 364-7739, ext. 120
jvegarra@venaresources.com
www.venaresources.com