VANCOUVER, BRITISH COLUMBIA, Jul 29 (MARKET WIRE) —
Ventana Gold Corp. (TSX: VEN) (“Ventana” or “the Company”) has completed
the acquisition of the La Bodega and La Baja properties and now owns 100%
of all mineral rights, key surface rights, easements, equipment and
facilities, and related intangible assets on both properties.
Ventana President and CEO Steve Orr said: “We are extremely pleased to
have completed this transaction as it means we now have an expanded land
package for continued exploration and development. We now plan to
mobilize two exploration drills onto La Baja to conduct infill and
extension drilling on the La Mascota and Las Mercedes zones that continue
onto the La Baja tenements.”
La Baja comprises 16.5 hectares between the La Bodega and El Cuatro
properties and contains an operating mine and processing plant. The
property is strategically located on strike with the La Mascota zone and
provides Ventana with contiguous mineral rights for a distance of 2.1
kilometres. Recent drill results indicate that La Mascota mineralization
extends across the northern portion of the La Baja property. In addition,
it is apparent that the recently discovered Las Mercedes parallel zone
trends onto La Baja. Acquisition of this strategic property consolidates
Ventana’s land position in the California district and the Company’s land
holdings now total 4,590 hectares.
Concurrent with the activation of exploration drilling on La Baja,
Ventana will have 10 drills active on the La Bodega project testing the
following areas:
– La Mascota – drilling will be focused on the southwest extension of the
mineralization and continue to test the depth extension;
– Las Mercedes – identified in 2008 and has been partially defined along
700 metres of strike length; remains open in all directions;
– Aserredero target – discovered in 2009, runs parallel to La Mascota and
southeast of Las Mercedes. No drilling has occurred to date on this
target;
– La Bodega – step-out drilling from the La Bodega zone toward La Mascota
to infill the gap between these two structures.
To view the map, please click on the following link:
http://media3.marketwire.com/docs/ven728.pdf
About Ventana
Ventana is a Vancouver-based mineral exploration and development company
with mineral rights to 4,590 hectares of exploration property in
northeastern Colombia. The Company’s flagship La Bodega project in
northeastern Columbia contains multiple high-grade zones of gold, silver
and copper mineralization occurring in north-northwest dipping
parallel-sheeted vein zones, breccias and mineralized faults within a
broad, northeast trending regional fault zone. The La Bodega project has
excellent road access and is close to existing infrastructure including
power and water. The Company is conducting an aggressive exploration
program and is advancing engineering studies to develop the deposit.
Ventana’s shares trade on the Toronto Stock Exchange under the symbol VEN.
Cautionary Statement Regarding Forward-looking Information
Certain of the statements made and information contained in this press
release may constitute forward-looking information within the meaning of
applicable securities legislation. All information and statements which
are not historical fact constitute forward-looking information and, in
many cases, can be identified by words such as “may”, “will”, “expect”,
“plan”, “anticipate”, “believe”, “estimate”, “potential”, or other
similar terminology. The forward-looking information contained in this
press release is based on the reasonable expectations and beliefs of
management as at the date of this press release and involves numerous
assumptions, known and unknown risks and uncertainties, both general and
specific to Ventana and the industry in which the Company operates. Such
assumptions, risks and uncertainties include, but are not limited to
future prices of gold, the factual results of current exploration,
development and mining activities, changes in project parameters as plans
continue to be evaluated as well as those factors disclosed in Ventana’s
documents filed from time to time with the securities regulators in the
provinces of British Columbia, Alberta and Ontario. Should one or more of
these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results, performance or achievements
of the Company, or industry results, may vary materially from those
described in this press release. Accordingly, readers are advised not to
place undue reliance on forward-looking information. Except as otherwise
required by law, Ventana does not intend to and assumes no obligation to
update or revise forward-looking information, whether as a result of new
information, plans, events or otherwise.
Contacts:
Ventana Gold Corp.
Meghan Brown
Investor Relations Manager
+1 604 638-2002
mbrown@ventanagold.com
www.ventanagold.com
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