Vena to Drill Major Veins at the Esquilache Polymetallic Property
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/10/14 -- Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM)(LMA: VEM)(FRANKFURT: V1RA)(OTCBB: VNARF) is pleased to announce the initiation of drilling at the 100% owned silver rich polymetallic Esquilache project located in Puno Department approximately 850 kilometres southwest of Lima, Peru. The Company has recently received the necessary permits for a 20 platform drill program and Ingetrol Peru SAC is mobilizing a portable rig to the property that will commence drilling this week. Community agreements, access roads, drill platforms, camp site and all required infrastructure requirements have been finalized.
Juan Vegarra, Chairman and CEO of Vena states: "With funding in place, we plan to advance the promising Esquilache project with a fourth drill program, and, if successful, an additional drill program in the first quarter 2015. Esquilache will remain the investment focus of the Company and we expect to release first set of drill results in December."
The 1,000 hectare 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 NI 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. The specific targets are:
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 will be prepared and analyzed by Certimin 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 .
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 second quarter ended June 30, 2014 and its annual information form for the year ended December 31, 2013, which are available at . 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.
Contacts:
Vena Resources Inc.
Juan Vegarra
Chairman and CEO
416 364 7739, ext. 120
Vena Resources Inc.
Martin Walter
President
416 599 7363
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Datum: 10.11.2014 - 13:00 Uhr
Sprache: Deutsch
News-ID 351033
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Mining & Metals
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