Jan 11 2011
Ventana Gold Corp. (TSX: VEN) has announced results from thirteen additional holes drilled on multiple exploration targets within its La Bodega gold, silver and copper project in Colombia.
These results continue to extend the mineralization within the project's La Mascota, La Bodega, Las Mercedes and Aserradero zones beyond that contained in the current inferred resource announced on November 8, 2010.
Highlights
- La Mascota SW Extension hole 368 returns 54 metres of 7.90 g/t gold with 20.73 g/t silver in the first test of deeper mineralization in this area, supporting the theory that gold mineralization may increase at depth.
- La Mascota holes 363 and 371 return 22 metres of 6.93 g/t gold with 100.12 g/t silver and 21.1 metres of 8.23 g/t gold with 74.88 g/t silver, respectively, within the La Baja tenement.
- Las Mercedes hole 347 returns 4.4 metres of 7.90 g/t gold with 75.64 g/t silver and extends this zone to the southwest.
- Las Mercedes hole 351 returns multiple intercepts including 16 metres of 4.18 g/t gold and 10 metres of 5.00 g/t gold within the La Baja tenement, providing further evidence that Las Mercedes extends through this tenement.
- Aserradero hole 370 returns 35 metres of 4.81 g/t gold in the farthest north eastern portion tested to date.
Details
Results of Drilling to Extend Mineralization
The drilling results detailed below represent extensions of mineralization reported in Ventana's NI 43-101 inferred mineral resource estimate announced on November 8, 2010 and demonstrate that the mineralization tenor remains robust as drilling extends at depth, on new zones and along strike to the southwest.
Hole 368, on section 8855E in the La Mascota SW Extension, intercepted 54 metres of 7.90 grams per tonne gold with 20.73 grams per tonne silver starting at 402 metres drilled depth, which includes 14 metres of 18.18 grams per tonne gold with 56.09 grams per tonne silver from 402 to 416 metres and 3 metres of 38.13 grams per tonne gold from 452 to 455 metres. It was drilled to the north at -50 degrees inclination from a site 150 metres lower in elevation and 200 metres further south from previous drilling in the area. It was targeted to test a potential parallel mineralized structure and to test mineralization at depth. Geochemical results from other holes drilled farther uphill in the SW extension area indicates that better gold mineralization may be present deeper in the system. The true thickness of these intercepts is not known as further drilling is required to determine the geometry of the structures encountered. Hole 373, further uphill on section 9000E tested a parallel structure 100 metres south of the La Mascota trend and intercepted 9.4 metres of 2.15 grams per tonne gold with 82.6 grams per tonne silver.
Drilling at La Baja continues to confirm the existence and continuity of the La Mascota zone through this mineral tenement. Hole 363 on section 9050E intersected 22 metres of 6.93 grams per tonne gold with 100.12 grams per tonne silver. Hole 371, also on section 9050E, tested the same structure about 35 metres down-dip and intersected 21.1 metres of 8.23 grams per tonne gold with 74.88 grams per tonne silver. The elevated silver values are consistent with previous intercepts in this area and further confirm that average silver grades are increasing to the southwest.
On the Las Mercedes zone, hole 347 on section 9900E intersected 4.4 metres of 7.90 grams per tonne gold with 75.64 grams per tonne silver. It is on the same section as previously reported hole 359 that intersected 4.2 metres of 5.62 grams per tonne gold, further confirming the extension of the Las Mercedes zone. To-date, the northeast portion of the La Mercedes zone has been defined for a distance of over 400 metres along strike and the southwest portion has been defined for a distance of over 200 metres along strike.
Hole 351 on section 9475E has confirmed the existence of the Las Mercedes zone extension into the newly acquired La Baja mineral tenement. It intercepted a series of mineralized structures with results including 16 metres of 4.18 grams per tonne gold starting at 43 metres drilled depth, 28.7 metres of 2.39 grams per tonne gold starting at 257 metres, and 10 metres of 5.00 grams per tonne gold starting at 343 metres drilled depth.
Hole 370 on section 0150E is in the Aserradero zone and intercepted 35 metres of 4.81 grams per tonne gold on the furthest northeast section drilled to date on that target zone. Hole 365 was also drilled on section 0150E and intercepted 6.8 metres of 4.03 grams per tonne gold approximately 40 metres up-dip from hole 370. Since the inception of drilling into Aserradero, ten holes have been drilled into this zone and nearly all have intercepted ore grade mineralization.
Infill Drilling Results
Infill drilling also continues at the La Bodega project in an effort to upgrade the initial resource from inferred to measured and indicated. Hole 357 on section 9425E was an infill hole within the centroid of the main La Mascota zone and returned two robust intercepts of 68.7 metres of 5.43 grams per tonne gold with 29.89 grams per tonne silver starting at 206 metres drilled depth and 27 metres of 12.13 grams per tonne gold with 20.71 grams per tonne silver starting at 294 metres. Hole 366, also on section 9425, intercepted 29.1 metres of 5.50 grams per tonne gold with 37.60 grams per tonne silver.
Holes 350 and 367 were drilled on section 0050E in the La Bodega zone and intercepted 5 metres of 5.72 grams per tonne gold and 5.8 metres of 4.76 grams per tonne gold respectively.
Ten drills continue to be active at the La Bodega project with drilling focused on exploration of newer target areas and infill in an effort to upgrade the initial inferred resource to the measured and indicated category.
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.
Source: Ventana Gold Corp.