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Vena Resources Inc. (“Vena” or the “Company”) (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA®:V1R.DE), a Company with strong partnerships with some of the world’s largest mining companies, is pleased to announce the initial results of the third major drill campaign on the Macusani properties of Minergia S.A.C., a uranium exploration company jointly owned by Vena and Cameco Corporation.
A total of approximately 4,000 metres of diamond drilling has been completed to date including 16 holes at the Isivilla prospect and 11 holes at the Tantamaco prospect. Two track mounted machines are being used and assays have been received for the first 14 holes.
The drilling at Tantamaco has extended the higher grade zone around hole TA-2010-79 (54 metres of 1.4 lbs/t U3O8; including 9.7 metres of 5.9 lbs/t U3O8) 300 metres to the west and 150 metres to the south. Several of the initial holes were spaced at 50 metre x 50 metre intervals to prove the consistency of the 40 metre thick disseminated zone within the B horizon of the Yapamayo rhyolite pyroclastic. The current plan is to continue expanding the zone to the south with a series of holes spaced at 100 metre x 100 metre intervals. The table below presents the assay results for the first seven drill holes. It should be noted that assay results from the two visually best holes drilled to date, TA – 115 and TA – 117 are expected in a few days.
Assays for the initial seven Isivilla holes that were drilled on the southern line of five platforms to the west of 2010 drill hole IS-06, gave relatively low uranium values. Drilling on the northern tier of holes (600 metres to the north) was much more successful and visual uranium mineralization increased progressively towards the west. Based on the encouraging intersections in holes IS-026 and IS-027, an additional hole is being drilled 200 metres to the west of IS-027. When this hole is completed the drill will be moved to Tantamaco to accelerate the resource expansion program.
David Bent, Vena’s Vice President Exploration stated: “We are very pleased with the initial results of the drilling at both prospects. The higher grade zone at Tantamaco is continuing to the south and west and with the addition of the second drill we should be able to rapidly expand the resource base. The Isivilla drilling has indicated that the higher grade zone has a more northwesterly trend than initially thought and the next drill plan will be designed to fill in between holes IS-06 and IS-27 as well as follow the zone to the northwest.”
Read the full news release and findings here.
