Vena Resources Inc.
OTC Bulletin Board : VNARF

Vena Resources Inc.

April 07, 2010 02:00 ET

Vena and Trafigura Improve Tailings Recovery Process at Azulcocha

TORONTO, ONTARIO--(Marketwire - April 7, 2010) - Vena Resources Inc. (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF) is pleased to announce that in cooperation with Trafigura Beheer B.V. ("Trafigura"), a privately-held international commodity trader (see below for more information), a series of metallurgical tests have been completed. These tests were undertaken in order to obtain commercial Zinc concentrates and to develop an improved flowsheet for the Azulcocha mill that is intended to process the known tailings and underground resources.

The results to date have produced a commercial concentrate from the tailings with a grade of 53% Zinc and a recovery of 62.25%. Additional flotation tests are being performed using a finer grind to further improve the recovery and optimize the final mill flowsheet. The current milling procedure will lead to a more economical mill flowsheet than the one specified in the tailings pre-feasibility study completed in 1995.

A composite sample totaling 3 metric tons was collected from all of the tailings ponds for the metallurgical tests that were performed in a commercial 300 tpd mill by regrinding the material to -150 microns.

"The advantage of using a commercial plant to fine tune the flowsheet for milling the Azulcocha tailings and underground resources cannot be overstated. The design of the Azulcocha mill will be based on proven and practical processes that will optimize the recoveries and concentrate grades without the usual costly delays incurred during start up of commercial production. Given the positive metallurgical results and the recently announced $10 million SEDA (Standby Equity Distribution Agreement), the Company is in a position to complement any funding needed to bring Azulcocha into production with our partners" stated Juan Vegarra, Chairman and CEO of Vena.

Metallurgical Balance with Regrind 100% -100 (< 150 microns)
Product Weight % Grades (%) Fines Content (g) Recovery (%)
Pb Zn As Mn Pb Zn As Mn Pb Zn As Mn
Head 100.00% 1.44 6.61 3.08 7.92 21.60 99.15 46.13 118.84 100.00 100.00 100.00 100.00
Conc. Pb-As 9.73% 8.00 0.21 18.10 1.32 11.67 0.31 26.41 1.92 54.03 0.31 57.24 1.62
Conc. Zn 7.52% 1.10 52.99 1.10 1.58 1.24 59.74 1.24 1.78 5.74 60.25 2.68 1.49
Tailings 82.76% 0.70 3.15 1.49 9.28 8.69 39.10 18.49 115.14 40.23 39.44 40.07 96.89
Head Calc.   1.44 6.61 3.08 7.92                

The Company has hired Henkle and Associates to update the NI 43-101 report to include all information obtained since February 2008 including Glencore's recent work on Azulcocha West. 

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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.

About Trafigura Beheer B.V.

Trafigura Beheer B.V. is one of the world's leading international commodity traders, specializing in the oil, minerals and metals market, with 67 offices in 44 countries in Europe, Africa, Asia, Australia, and North, Central and South America. Its principal corporate offices are in Amsterdam, London and Lucerne. Trafigura's primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, non-ferrous concentrates and refined metals. It is the world's second largest independent non-ferrous trading company and the third largest independent oil trader. Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in the last five years, growing turnover from US$18 billion in 2004 to US$47 billion in 2009.

About Vena Resources

Vena Resources Inc. is a Canadian mining company focused on the exploration and development of Peru's mineral potential. Employing a model of diversification across metals and regions in Peru to mitigate investment risk, the Company consists of four divisions: Mining, Clean Energy, Precious Metals and Base Metals. Together with the Company's strategic partners, Cameco, Goldfields and Glencore, Vena will advance its significant portfolio of almost 90,000 hectares this year. Through its board of directors and advisors, Vena Resources possesses a unique quality of skills and experience in management, mining and finance globally.

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.

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