April 25, 2011
Toronto, Ontario – Vena Resources Inc. (“Vena” or the “Company”) (TSX: VEM, LIMA: VEM, Frankfurt: V1R, OTC-BB: VNARF, Xetra®: V1R.DE), a Company with strong partnerships with some of the world’s largest mining companies, is pleased to announce that the Azulcocha Environmental Impact Assessment (EIA) is in the final days of the approval process. The mandatory information workshops have been held with and approved by the local communities and all of the additional information requested by the Ministry of Energy and Mines has been submitted. No additional observations are expected and all required engineering details have been submitted for the tailings pond as well as the milling facility leading to the construction phase in a matter of weeks.
In related news, detailed mapping and sampling of the hanging wall limestone sequence of the Azulcocha mine has outlined a new, steeply dipping mineralized structure that will be tested as an additional target during the imminent drill program to add near-mine resources as previously reported in the Company’s March 21, 2011 press release.
The detailed mapping and sampling program in the hanging wall limestone of the Azulcocha mine that was postponed in 2009 due to the global financial crisis has recently been re-initiated and is yielding very positive results. In addition to the high grade cross cutting Fierromina mineralized fault and the two main manto structures that have already been developed as drill targets, a steeply dipping mineralized structure has been identified that is sub-parallel to the Cochas-Gran Bretana fault.
The newly identified mineralized structure has been sampled in outcrop and shallow trenches over a horizontal distance of approximately 800 metres between the bounding Fierromina and Laguna cross faults. It strikes at N65⁰W and has an average dip of 72⁰NE with widths varying from 0.30 to 4.0 metres and an average width of 1.45 metres. Although the mineralized outcrops have been oxidized near surface, the sampling returned considerable values in manganese and zinc. A total of 90 samples were taken from the trenches and outcrops with values ranging from geochemically anomalous to a peak values of 0.35 g/t Au, 72.3 g/t Ag, 309 ppm Cu, 8.35% Mn, 1.02% Pb and19.99 % Zn. The best individual sample (5001375) assayed 0.144 g/t Au, 39.7 g/t Ag, 1.0 % Mn, 1.02% Pb and 19.99% Zn across 0.60 metres in a trench approximately 50 metres east of the projected intersection with the Fierromina structure.
By extending the nearest underground working on Level 0 an additional 495 metres south, the target structure could be intersected at a depth of approximately 200 metres below surface. This structure and any other blind similar mineralized structures encountered during the drill program could be rapidly developed and add considerable incremental resources to the mine plan.
This press release has been reviewed and approved by David Bent, P. Geo., Vena’s Vice President of Exploration and Qualified Person as defined by NI 43-101.
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The TSX does not accept the responsibility for the adequacy or accuracy of this release. Statements in this press release regarding the Company’s business, plans, intentions, proposed Offering and use of proceeds thereof, 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. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Information identifying risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s current Annual Information Form and its other filings with the various Canadian Securities Regulators, which are available online at www.sedar.com.