Oct 17 2014
Venerable Ventures Ltd. is pleased to announce that it has received geochemical sample results from its summer exploration program. The work focused on the additional claims acquired pursuant to the option agreement extension dated May 19, 2014.
In August, the Company inspected eight areas containing historical gold and multi-element till geochemical anomalies using soil geochemistry, geological mapping and prospecting. Results confirm at least three of these areas contain significant precious metal anomalies.
A 600 metre long gold, silver, arsenic soil anomaly (Area 8) has been identified 3.5 kilometres southwest of the original Trout 'Discovery' zone. This northeast trending geochemical anomaly occurs along a till covered slope associated with airborne resistivity high and magnetic low signatures. It lies within the boundaries of what is interpreted to be the continuation of the Trout graben and is considered a priority target for future follow-up work.
Two additional areas (Area 3 and 4) in the western part of the property have less pronounced but similar geophysical responses and contain significant 'single line' precious metal and base metal geochemical anomalies. They will require further soil testing and prospecting.
The Company has acquired data from a previous airborne electro-magnetic and resistivity survey covering the expanded property boundaries. This new data, combined with the current geological information will serve as an important guide for further work by improving interpretations and locations of underlying bedrock, fault structures and potential alteration zones.
Mineralization at the main Discovery Zone on the Property is a low-sulphidation gold-silver epithermal system hosted by silica-adularia altered breccias in polymictic conglomerate and rhyodacite. At the main Discovery Zone, several new drill targets remain top priority for testing.
Source: http://www.venerableventuresltd.com/