May 22, 2007
May 22, 2007-- Toronto, Ontario -- Vena Resources Inc. (TSX-V: VEM, LIMA: VEM, Frankfurt: V1R, OTC-BB: VNARF) is pleased to announce that Dr. Deepak Malhotra, president of Resource Development Inc., (RDi) of Denver, USA has completed the metallurgical scoping study on a sample of run–of-mine copper-gold mineralized material from the Gladys Pit. The Gladys pit is a part of Vena’s Pucara project in Puno Peru. Pucara also contains a set of polymetallic veins in the addition to the stockwork. The company will commence a 4,100 metre drill program to test the extension of the Gladys pit and the four vein structures known so far as soon as permits are granted.
Grinding, flotation and leaching studies were undertaken on one composite sample provided to RDi. The highlights of the study indicate the following:
• The composite sample assayed 3.64 g/t Au, 19.34 g/t Ag and 4.23% Cu.
• Approximately 63% of the copper was acid soluble.
• Bond’s ball mill work index was determined to be very low.
• The optimal flotation test showed that +80% of gold and silver can be recovered in the concentrate. The concentrate weight was only 3.85% of the feed.
• Two stage leaching process consisting of first acid leaching for copper extraction followed by cyanide leaching was successful in recovering ± 60% of Cu and 87% of Au.
• Gold and silver minerals were also successfully floated from acid leach residue with
75% of gold and 80% of silver recovery.
Based on these results, RDi has developed a conceptual process flowsheet for the mineralized material from the Gladys Pit. It consists of floating gold and silver into a concentrate which can then be cyanide leached for extraction of gold and silver or sold to a smelter. The concentrate assayed 102 gpt Au, 110 gpt Ag and 5% Cu. The flotation tailings will be acid leached for copper extraction and the copper recovered by electrolysis (SXEW). Additional testing will be completed to generate data for a prefeasibility study.
Juan Vegarra, Chairman and CEO of Vena Resources states: “We are very excited from the preliminary metallurgical results obtained on the sample from Pucara tested as to the high grade of this material and the excellent recoveries of gold and silver obtained by flotation and the good copper extraction figures reported from acid leaching of the flotation residue.”
As previously reported the Gladys Pit was partially mined by a small miner using rudimentary methods. It is at present about 30 metres in diameter by 20 metres deep pit in the stockwork zone that outcrops for more than 200 metres. The Gladys structure is open along strike. Field relationships indicate that the floor of the present pit (~ elev. 3930m) is at the boundary of the oxide zone and the supergene enriched zone. CVRD’s drill hole DDH – 2 intercepted 70 metres of hypogene zone mineralization. This drill hole showed that the supergene zone bottoms out by elevation 3,890 metres, some 40 metres below the current pit floor. The exact thickness and strike length of the supergene enriched zone is still undetermined.
The Pucara project is now 2,000 hectares that include a historical underground silver mine from the colonial days in the northwest corner of the property. A team of Vena geologist will be visiting this new areas and report on their findings shortly.
Given the outstanding infrastructure in the area. The company plans to install a 50 tpd pilot plant as soon as environmental permits are approved, Over 1,000 metres of underground workings by drifting along the Santo Tomas vein will not only provide feed for the pilot mill but also should help identified potential veins that do not outcrop.
For further information please visit the Company website at www.venaresources.com or contact:
Juan Vegarra – Chairman & CEO (416) 364-7739, ext. 120 – email email@example.com
Denis Clement – Director (416) 364-7739, ext. 105 – email firstname.lastname@example.org
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