Posted in | Uranium | Mining Business

Vena Resources to File NI 43-101 Compliant Resource Estimate for Macusani Uranium Project

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 announced that an independent National Instrument 43-101 compliant resource estimate for its Macusani Uranium Project, located in Peru will be filed on SEDAR and on the Company's website today.

Henkle and Associates ("Henkle") has completed its first resource estimate for Minergia S.A.C., a uranium exploration company owned by Vena (75%) and Cameco Corporation (25%). It should be noted that the NI 43-101 compliant resource estimate only encompasses five of the nine properties in the Macusani region. Minergia also owns uranium properties in the Muñani region where work is continuing.

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. A new drill program is expected to begin mid-January 2011 intended to increase resources at Tantamaco and Isivilla.

Source: Vena Resources Inc.

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