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Azulcocha Mineralization Substantially Greater than Anticipated and new High Grade Zinc Zone Discovered

July 23, 2007

July 23, 2007-- Toronto, Ontario --Vena Resources Inc. (TSX: VEM, Lima: VEM, Frankfurt: V1R, OTC: VNARF) is pleased to announce that the ongoing program designed to confirm the historic resource of 3.2 million tonnes (43-101 non-compliant) of mineralization at Azulcocha has shown increased thickness and new high grade zones of zinc mineralization have been discovered.

Three crosscuts from the -40 Mine Level in the Eastern Zone (See Figure 1) have extended the historical estimated thickness of mineralization from one lense with 3.5 metres true width, to two lenses totalling 14.5 metres true width. The mineralization is open along strike and is expected to extend below the current level of exploration based on historical drilling. Four additional crosscuts, averaging 30 metres in length and spaced 50 metres apart, will be driven from both the western and the eastern drift extensions into the projected mineralized zone.

Two mineralized zones were exposed in Crosscut 823-S with true widths of (1) 12 metres averaging 20.5% zinc and (2) 2.5 metres averaging 19.1% zinc, systematically channel sampled on both walls. The true thickness attributed to the intercept sampled in the crosscut was derived assuming a dip angle of 45 degrees – which typifies this sector of the mineralized lense.

Crosscut 823-S East Wall
Crosscut 823-S West Wall
Sample # Zn (%) Pb (%) Mn (%)
Sample # Zn (%) Pb (%) Mn (%)
8563 12.27 0.16 0.76




8564 15.28 0.33 0.23
8554 29.84 0.74 0.07
8566 2.75 0.36 0.02
8571 1.7 0.06 0.02
8567 26.81 0.16 0.2
8572 26.93 0.28 0.05
8568 15.42 0.18 0.07
8573 12.82 0.22 0.07
8569 31.58 0.51 0.04
8574 4.25 0.24 0.13
8591 42.14 1.43 0.3
*** 7.81 0.49 0.12
8592 43.06 1.64 0.63
8594 11.36 0.74 0.1
8593 33.45 0.86 3.26
8595 32.94 0.25 10.15
8600 5.21 0.16 27.29
8596 20.17 0.19 16.38
8651 9.14 5.95 27.67
8597 5.14 0.08 14.08
8652 1.58 0.04 19.13
8598 2.29 0.03 13.58
8653 0.34 0.02 11.67
8599 0.46 0.03 14.64

 

*** Average value - based on adjacent samples, as sample was not received
by laboratory

Mining preparation and development has been completed on Mine Level 0 and is now ready for stope production. Vena Resources is under contract to sell 11,500 tonnes of material, of which 1,483 tonnes of mineralization grading 17.0% zinc, and 1,808 tonnes of mineralization grading 8.3% zinc has already been sold. In addition to what has already been sold, Vena Resources has approximately 12,300 tonnes of material, extracted from four rehabilitated mine levels, stockpiled on site and ready for sale or milling. See Figure 2 representing Mine level 0.

 

James W. Stewart B.Sc., PhD, a registered Professional Geoscientist in the province of British Columbia, Vena’s Qualified Person as defined by NI 43-101 has reviewed this news release. All samples have been sealed in bags with security tags and shipped to SGS Laboratories in Lima, Peru, an ISO certified assay laboratory. The program includes an extensive quality control program for assaying which includes the systematic use of standards and field duplicate samples. Secondary laboratories are also used for check assaying.

 

For further information please visit the Company website at www.venaresources.com or contact:

Kirsten Marcia (416) 364-7739, ext. 142

Director of Investor Relations kmarcia@venaresources.com

 

 


 

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 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. 

 

Figure 2

 

Figure 1