Juniors gone wild (Ventana)Nice sub $1 to $4+ move in pps with this announcement....
Jun 04, 2009 13:09 ET
Ventana Announces Additional La Mascota Drill Results
94.50 Metres of 5.83 Grams Per Tonne Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2009) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or "the Company") is pleased to provide drill results from two more holes of its 2009 drill program. The Company currently has three core drills working on site to test the down-dip and strike extensions of the high-grade La Mascota mineralized zone on its flagship La Bodega gold property in Colombia.
Due to the success of the current drill program, the Company plans to add another three drills to accelerate the exploration and infill drilling at La Mascota, bringing the number of rigs on site to six.
Prior to the current drilling program, the northeast-trending La Mascota mineralization had been defined along 725 metres of strike length and to a depth of 100 metres down-dip, with estimated true composite widths of 20 to 80 metres and remaining open for expansion in all directions. Drill holes 106 through 109, reported on in a press release dated May 12, 2009, confirmed that the La Mascota mineralization continues to at least 250 metres down-dip and discovered an additional mineralized structure situated in the footwall of the main zone. Drill holes 110 and 112, reported on here, were also drilled in the southwest portion of La Mascota to test the down-dip extension of mineralization and have confirmed that potentially economic grades and widths extend to at least 250 metres down-dip over a tested strike length thus far of 325 metres. Both holes also encountered additional mineralized zones in the footwall of the main structure, further enhancing the potential to expand resources.
The 2009 drill program is part of Ventana's ongoing gold exploration program in the California-Vetas gold mining district of northeast Colombia, where Ventana controls a 4,573-hectare land position. Ventana's exploration activities and all drilling to date have been concentrated on its flagship 185-hectare La Bodega property. Recent property acquisitions have consolidated a land position that provides an additional 1,300 metres of potential strike length to extend the La Mascota zone to the southwest.
Gold assay results with completed QA/QC verification have been compiled for drill holes 110 and 112. Select drill hole intercepts from these holes are reported below:
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FROM TO INTERVAL Au
DRILL HOLE NO. (metres) (metres) (metres) (grams/tonne)
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La Mascota Zone
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DDH-09-LB-110 110.00 118.00 8.00 5.10
and 211.00 230.00 19.00 2.31
and 372.00 381.00 9.00 13.04
and 395.00 433.00 38.00 5.00
and 441.00 460.20 19.20 3.88
and 507.00 513.00 6.00 5.05
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DDH-09-LB-111 ASSAYS PENDING ------ -------
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DDH-09-LB-112 218.00 226.10 8.10 17.54
and 247.50 342.00 94.50 5.83
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Drill intercepts are based on a 0.5 gram/tonne gold cut-off with no
upper cut. Drill intercept lengths are down-hole lengths reflecting
apparent widths of mineralization with true widths ranging between
50%-70% of the reported down-hole lengths.
A drill hole location map and a complete listing of drill intercepts from the first 112 holes are available at
www.ventanagold.com.
Mineralization at La Bodega occurs as a series of north-northwest-dipping parallel-sheeted vein zones, breccias and mineralized faults situated within an envelope of pervasively phyllic altered and variably silicified gneiss and intrusive rocks.
La Mascota Drill Results
Drill hole 110 was drilled from a site situated 100 metres along strike to the northeast of previously reported down-dip test hole 108. It was drilled as a vertical hole and cut through 13 mineralized intervals between 110 and 513 metres drilled depth, each ranging from 4.0 to 38.0 metres in drilled length, indicating that the structure has split into a series of presumably parallel zones in that area. The best of these intercepts included 9.0 metres of 13.04 grams gold per tonne (including 1.80 metres of 59.17 grams gold per tonne) starting at a drilled depth of 372 metres, and 38.0 metres of 5.00 grams gold per tonne (including 10.1 metres of 15.95 grams gold per tonne) starting at a drilled depth of 395 metres. In addition, four mineralized zones were cut in the footwall of the main structure that included 19.2 metres of 3.88 grams gold per tonne starting at a drilled depth of 441 metres.
Drill hole 112 was drilled from a site located 125 metres along strike to the southwest of previously reported down-dip test hole 109. It was drilled at a -75 degree angle in a due south direction to test the down-dip extension of mineralization encountered in hole 100, which encountered 57.4 metres of 8.66 grams per tonne of gold and terminated while still in mineralization. Hole 112 cut a relatively thin, high-grade intercept in the hanging wall of the structure of 8.1 metres of 17.54 grams gold per tonne (including 1.5 metres of 77.69 grams gold per tonne) starting at a drilled depth of 218 metres and also cut the main structure with an interval of 94.5 metres of 5.83 grams gold per tonne starting at 247.5 metres drilled depth. This section included two high grade zones of 11.0 metres of 12.26 grams gold per tonne and 3.0 metres of 56.63 grams gold per tonne. Hole 112 extended the mineralization previously encountered in hole 100 an additional 75 metres down-dip, giving a total of 175 metres of down-dip extension tested thus far in this area.
Review by Qualified Person, Quality Control and Reports
Results of the Company's drilling program have been reviewed, verified, and compiled by Ventana's VP of Exploration Jon Lehmann, L.P.G., a Qualified Person for the purpose of 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 ("CDMB") and the German Geological Survey, and at the Colombian preparation laboratory of Inspectorate Laboratories, a worldwide ISO 9001:2001 certified laboratory. Prepared samples are direct-shipped to ACME Analytical Laboratories in Vancouver, B.C., an ISO 9001:2000 certified laboratory, for analysis. Pulp splits of mineralized intervals are re-assayed at an independent referee laboratory, Inspectorate America Corp. in Reno, Nevada.
Updated, independent NI 43-101 technical reports were prepared in June 2008 by EurGeol Miller O'Prey, PGeo, for the La Bodega property and the nearby California-Vetas property to provide a current review of exploration activities.