Oct 14 2010
Ventana Gold Corp. (TSX:VEN) has announced drill results from ten additional holes at the La Bodega gold project in Colombia.
A complete listing of drill intercepts is available on the Company's website at www.ventanagold.com.
Two of the new holes (294 and 311) are located on the recently discovered Aserradero zone southeast of and parallel to La Mascota. Six of the additional holes reported here (305, 314, 316, 317, 318 and 321) are infill holes in the La Mascota zone; and two holes (286 and 310) are down-dip extensions of footwall mineralization in the La Bodega zone. Refer to the attached map and cross sections for details.
Results continue to improve at Aserradero. The latest drill intercepts on this new zone returned more encouraging results with hole 294 in section 0150E returning 5.0 metres grading 23.18 grams per tonne gold. Drilling in this zone is still in the early stages and data to-date is not yet sufficient to estimate the overall dip of this structure. As more data is collected, true widths will be provided for these intercepts.
More residual holes from the infill drilling in La Mascota were returned and continue to support the consistency and higher grade nature of the mineralization in this main zone. In section 9675E, Hole 305 returned 25.91 metres of 10.19 grams per tonne gold which included 5.0 metres of 21.57 grams per tonne gold and Hole 318 returned 9.0 metres grading 20.35 grams per tonne gold. Further, Hole 317 in section 9625E returned an intercept of 26.35 metres grading 8.95 grams per tonne gold. Holes 286 and 310 in section 0350E were drilled south of the La Bodega zone and returned lower grade values.
Ventana's forthcoming initial NI 43-101 mineral resource statement is based on available drill and assay data as of September 1, 2010. The holes reported subsequent to this date are not included in the resource calculation.
Select intercepts from the reported drill holes are reported below:
Drill intercepts are based on a 0.5 gram/tonne gold cut-off with no upper cut. Drill intercept lengths are down-hole lengths of mineralization with true widths calculated assuming a 70 degree dip for the mineralized structure.
Review by Qualified Person, Quality Control and ReportsThe results of Ventana's drilling program have been reviewed, verified and compiled by Jon Lehmann, L.P.G., a qualified person as defined by 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 and the German Geological Survey, and at the Colombian preparation laboratory of ALS Chemex Laboratories. Prepared samples are direct-shipped to ALS Chemex Laboratories in Lima, Peru, an ISO 9001:2000 certified laboratory, for analysis.
Independent NI 43-101 technical reports have been prepared by Samuel Engineering, Inc., dated May 1, 2010 for the La Bodega project and by EurGeol Miller O'Prey, P.Geo., dated June 14, 2008 for the nearby California-Vetas project, to provide an updated review of the exploration activities that have occurred on the projects. These reports are posted on Ventana's website at www.ventanagold.com.