Vena Resources Inc. (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF), a Company with strong partnerships with some of the world's largest mining companies, has announce that Henkle and Associates has completed its first resource estimate for Minergia S.A.C., a uranium exploration company owned by Vena and Cameco Corporation.
Henkle's NI 43-101 compliant report will be published by the end of November.
This press release encompasses all of the properties in the Macusani region and includes the resource estimate for the Tantamaco property that was disclosed in the Company's press release of October 14th. The current resource numbers are based on 25,187 meters of diamond drilling in 158 drill holes performed over four years covering a small portion of the prospective target areas and indicates an overall resource estimate for the Macusani region of 8,316,818 pounds of indicated resources and 14,211,857 pounds of inferred resources at 0.18 pounds per ton cutoff and 7,618,216 pounds of indicated resources and 13,172,202 pounds of inferred resources at 0.36 pounds per ton cutoff is outlined.
This report was prepared by William R. Henkle, Jr., P.Geo., Vena's Qualified Person as defined by NI 43-101.
Upcoming Drill Program
The 2011 drill plan is primarily targeted to increase the resources at Tantamaco by following the trend of higher grade, disseminated mineralization to the southwest of hole TA-079. The near surface mineralized intersections at Isivilla in holes IS-06 and IS-04 will be followed up by 10 widely spaced holes which could result in additional resources. Permitting is in progress and it is anticipated that the program will start in January 2011.
In addition, there were 48 holes totalling 6,200 meters drilled at Nuevo Corani/Amaritza during the 2006 through 2008 period with mixed results. The mineralization was dominantly fracture - filling within the upper A horizon which is eroded off on both sides of the northeast – southwest trending ridge. Although the size and grade potential may be limited, a reportable resource could be drilled off fairly quickly.
Source: Vena Resources Inc.