March 5, 2010
Toronto, Ontario – Vena Resources Inc. (TSX: VEM, LIMA: VEM, Frankfurt: V1R, OTC-BB: VNARF) Minergia S.A.C. (a jointly held company whereby Cameco Corporation is earning a 50% interest in the Company’s uranium properties) is pleased to provide an update on exploration of the Macusani uranium project located in south-eastern Puno department in Peru.
To February 28th, Minergia has completed 26 diamond drill holes totaling 5,085 meters on the Tantamaco prospect. The drilling program has been designed to test for continuity and grade of uranium mineralization within a near surface, sub-horizontal, 30 – 80 meter thick horizon of rhyolitic pyroclastics hosting fracture-filling and disseminated autunite/ torbernite. The Tantamaco drilling (8,400 meters in 46 holes) is part of a larger program of approximately 11,000 meters in 71 holes that will also include holes to test the Calvario Real, Isivilla and Tuturumani prospects along the prolific northern rim of the Macusani caldera.
Lithology of drill hole MA-TA-MI-DDH 210-061 is included to illustrate the distribution of uranium within the mineralized horizon in a typical hole through the volcanic package.
The 2008 reconnaissance drill program indicated that the dominant mineralized structures strike approximately north-south and have a steep dip to the west. The Tantamaco drill program consists primarily of a series of holes drilling east at -45⁰ on a regular 100 metre grid opening up to 200 metres as it progresses south. A series of five holes are being drilled to the north at -45⁰ on line 8,460,700 N to test the importance of the secondary set of fractures that strike approximately east-west and have a steep dip to the south. Early Indications are that the east oriented holes give the more representative results for the deposit.
David Bent, Vena’s Vice President of Exploration commented “The results of the Tantamaco drill program to date are very encouraging. Upon completion of the 2010 drill program it is anticipated that sufficient data will have been generated to initiate the calculation of a preliminary uranium resource for the deposit.”
Section 8,460,700 N is included to illustrate the geometry of the deposit and the potential for continuing to follow the mineralized horizon down dip to the west.
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. Vena’s exploration and development programs are being supervised by Mr. Bent. All core samples will be prepared and analyzed by CIMM Peru, an ISO certified laboratory in Lima, Peru. The program is designed to include a comprehensive analytical quality control routine comprising the systematic use of standards, blanks and field duplicate samples. A secondary laboratory will be used for check assaying.
The table below presents the calculated weighted averages of the more significant results to date. The broad horizons of uranium mineralization are given as well as some of the more robust intervals. All drill intercepts are down-hole lengths and not true widths.
For further information on Vena Resources, please visit the Company website at www.venaresources.com or contact:
Juan Vegarra – Chairman & CEO - (416) 364-7739, ext. 120 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
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 transactions and financing plans, 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.