November 23, 2005 -- Toronto, Ontario --Vena Resources Inc. (TSX.V: VEM; LIMA: VEM) reports the third quantitative results from uranium exploration and sampling at the Company's extensive uranium concessions. The project area comprises 15,500 hectares of 100% controlled land in Puno, Peru. Previous campaigns also found significant mineralization as reported in a Vena press release on September 28, 2005. These near surface exploration targets are disseminated in nature occurring in highly porous volcanic rock formations. Given the encouraging results of the geochemical confirmation campaigns, Vena is preparing a drilling campaign to test these targets at depth and produce a 43-101 compliant resource estimate as soon as possible.
The results of 50 composite samples along areas of tectonic disturbance of autenite and torbenite from 7 trenches in Concharrumio (part of the Lincoln XXIV concession) are included. Most of the samples were analyzed by the delayed neutron count process. However, 10 samples shown here were analyzed by x-ray diffraction due to the high grade nature of the rock analyzed. The exploration target in Concharrumio extends over an area of 600 by 300 meters, with uranium mineralization ranging from 0.01% to 23.0% U3O8 at surface. Concharrumio’s trenches are between 13 and 271 meters long, between 1 and 1.8 meters wide, between 1.1 and 1.8 meters in height and the spacing between trenches ranges from 32 to 147 meters.
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Element: |
U |
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Element: |
U |
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Element: |
U |
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Element: |
U308 |
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Method: |
DNC |
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Method: |
DNC |
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Method: |
DNC |
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Method: |
FUS-XRF |
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T1B |
0.23% |
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T5A |
0.42% |
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T6A |
0.34% |
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T1A |
6.05% |
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T2A |
0.01% |
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T5C |
0.49% |
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T6B |
0.56% |
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T2B |
22.50% |
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T3A |
0.02% |
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T5D |
0.13% |
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T6C |
0.03% |
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T3B |
13.80% |
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T3C |
0.15% |
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T5E |
0.01% |
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T6D |
0.26% |
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T4C |
23.00% |
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T4A |
0.08% |
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T5F |
0.01% |
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T6E |
0.40% |
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T4F |
11.60% |
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T4B |
0.64% |
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T5G |
0.79% |
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T6F |
0.66% |
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T5B |
2.77% |
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T4D |
0.02% |
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T5I |
0.07% |
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T7A |
0.41% |
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T5H |
3.91% |
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T4E |
0.02% |
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T5L |
1.32% |
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T7B |
0.14% |
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T5J |
5.08% |
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T4G |
1.55% |
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T5M |
0.05% |
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T5K |
6.80% |
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T4H |
0.40% |
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T5N |
0.33% |
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T5LL |
10.40% |
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T4I |
1.34% |
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T5N |
1.12% |
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T4K |
1.80% |
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T50 |
1.59% |
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T4M |
0.45% |
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The Company has concentrated its efforts on the Macusani and Munani regions where it has completed three confirmation sampling campaigns and is developing a more complete understanding of the geological nature of the uranium mineralization occurrences.
Composite samples are placed in sealed bags and shipped to ActLabs in Lima, Peru, an ISO certified assay laboratory. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.
About Vena Resources Inc.
Vena Resources is dedicated to building capital appreciation and creating long term shareholder value by developing the mineral resources and social welfare of Peru. Vena Resources’ commitment will be demonstrated by deploying its financial resources to aggressively acquire and advance high quality people and assets throughout the country. We seek Safe Harbor.
For further information please visit the Company website at www.venaresources.com or contact:
Bryce Bradley , Corporate Development (416) 666-0519 -- email bbradley@venaresources.com
Denis Clement, Director (416) 364-1909 – email dclement@venaresources.com
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