TORONTO, Jan. 15, 2013 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru: VEM, Germany: V1RA, USA: VNARF) announces the results of the initial surface sampling phase of the current exploration program being conducted on the Esquilache silver project located in southeastern Peru. The sampling confirmed the continuity of high grade silver values in the surface outcrops of the Sepulveda, Creston, Elvira, Katty and Julian veins with values up to 25 opt Ag (ounces per tonne silver), 5.68% Pb (lead) and 1.45% Zn (zinc) and complements the positive preliminary metallurgical test results that were reported in a press release on January 7, 2013.
The current exploration program commenced with a compilation of historical data of the mine including information from three thesis presentations submitted to the Universidad Nacional San Agustin that date from the early 1960's when Hochschild was actively mining the deposit. To date, systematic sampling (272 channel samples) of five of the more prominent outcropping veins has been undertaken as the first step in establishing resources amenable to exploitation by low cost open pit mining. The program includes sampling of the mine dumps and on-going metallurgical studies to maximize recoveries and concentrate grades.
Based on this work, a planned drill campaign will test the near surface potential of the principal veins with a series of short holes and will also include eight deeper holes to test the potential for the continuity of high grade silver at depth on the Sepulveda and Mamacocha veins. The program is expected to total about 1,700 to 2,000 metres.
The Sepulveda vein is located on Cerro Creston and has been evaluated by channel sampling of outcrops and trenches over a strike length of 450 metres. The transverse sampling was at 25 metre intervals and the best section assayed 10 ounces per tonne (opt) Ag across a vein width of 8 metres. There were 20 sample sections and the elevation difference between the lowest and highest is 130 metres. The accompanying longitudinal section shows the drill plan to test for near surface open pit resources and an initial series of four holes to test the mineralization at depth. The projections of silver mineralization at depth and the outline of underground workings is based on data in the thesis of Alejandro Fundinaga Bedoya that was published in 1961. Table 1 shows the most significant results from the channel sampling program on the vein.
SOURCE Vena Resources Inc.