January 7, 2008
January 7, 2008-- Toronto, Ontario --Vena Resources Inc. ("Vena" or "the Company") (TSX:VEM, LIMA:VEM, FRANKFURT:V1R) is pleased to announce the results from seven additional diamond drill holes at the Pucara polymetallic project in Puno, Peru. The objective of the ongoing 21 drill hole-4,400 metre campaign is to test at depth a number of veins that crop out over an area of several square kilometres. Some of these holes have intersected significant lead and silver mineralization in veins in the northern part of the project area.
Highlights from the seven drill holes follow. All drill intercepts mentioned are down-hole lengths - not true widths. Drill data for the entire program will be posted on www.venaresources.com when the drill program is completed:
PK-18 intersected two veins with the following results:
- 9.3 m of 12.3% Pb and 1 ounces/tonne Ag from 119.5 m to 128.8 m
- 3.0 m of 7.5% Pb from 106.3 m to 109.4 m
PK-20 intersected a silver/lead bearing vein which returned:
- 5.1 m of 2.0 ounces/tonne Ag from 101 m to 106 m, including 2.0 m at 18.6% Pb
PK-20A intersected a 1.7 m vein assaying 14.4% Pb from 57.0 m to 58.7 m
PK-18, PK-19 and PK-19A intersected several near surface sectors with elevated Au values
PK-16 stopped prematurely due to ground conditions albeit ending in a 0.3 m vein grading 13.0% Pb
In addition to drilling in northern part of the project area, the Company has two rigs operating in the southern part of the property as well drill testing the Santo Tomas vein system.
Juan Vegarra, Chairman and CEO states:
"We have drilled tested the northern veins of Pucara that outcrop for more than 1,200 metres along strike and span in excess of 250 metres of vertical intervals. We are encouraged by the significant mineralization found so far and are contemplating a 2,000 metre underground exploration/development project by drifting along some of these veins, in part complementing work we plan to do near surface at the Gladys (Cu/Au) pit."
The drilling programs are being supervised by Dr. James W. Stewart P.Geo., Vena's Qualified Person as defined by NI 43-101. Core samples are cut longitudinally with a diamond saw, with one half of the core placed in sealed bags and analyzed by CIMM Peru an ISO certified assay laboratory. An appropriate QA/QC program is in place.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
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The TSX does not accept the responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Vena Resources Inc.
Chairman and CEO
(416) 364-7739, ext. 120
Source: Vena Resources Inc.