Ventana Gold Corp.

Ventana Gold Corp.

March 01, 2010 07:00 ET

Ventana Announces Additional La Mascota Drill Results-El Cuatro Extension Drilling Intercepts 37.0 Metres of 5.6 Grams Per Tonne Gold, 65 Grams Per Tonne Silver, and 0.41% Copper-

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2010) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or "the Company") is pleased to announce drill results from nine additional holes on the La Bodega gold project in Colombia, including gold, silver and copper assays.

Five of the new holes were infill holes in the main La Mascota zone (holes 168, 176, 194, 195 and 196), two were step-out holes drilled on the El Cuatro property (holes 187 and 197), one was an exploration hole in the Las Mercedes zone (hole 188), and one was an infill hole from the La Bodega zone (hole 198). Refer to the attached map and cross sections for details:

Of note among these results is hole 187, which was drilled on the El Cuatro property, approximately 500 metres to the southwest of the known mineralization at the La Mascota zone. This hole was drilled at a -50 degree angle and encountered an intercept, currently interpreted to be close to the true width, of 37.0 metres grading 5.61 grams per tonne gold, including an interval of 7.0 metres at 15.38 grams per tonne gold, demonstrating that high-grade gold mineralization continues along strike to the southwest.

The infill drilling at La Mascota continues to return excellent results, with hole 168 returning a 27.0 metre intercept grading 10.55 grams per tonne gold and hole 195 returning a 70.0 metre intercept grading 4.69 grams per tonne gold. The silver and copper values are also consistent with previous La Mascota results, reflecting significant additional value per tonne of ore.

Ventana President and CEO Steve Orr said: "This most recent set of results has increased our confidence in the La Mascota zone by confirming that mineralization is present at similar style and grades along strike as far as 500 metres to the southwest of the current infill drilling area. La Mascota is shaping up to be one of the most exciting high-grade gold discoveries in recent years, and we are confident that further drilling will continue to expand this world-class deposit. We will maintain our current rate of exploration with nine drills distributed between the La Mascota, La Bodega and Las Mercedes zones."

Select drill hole intercepts are reported below:

(metres) (metres) (metres) (grams/ (grams/
tonne) tonne)
DDH-09-LB-168 79.00 80.00 1.00 27.10 1,000.00 3.34
193.40 197.60 4.30 6.09 16.08 0.04
237.00 243.00 6.00 4.97 14.05 0.18
260.00 287.00 27.00 10.55 6.10 0.03
includes 282.00 287.00 5.00 50.57 14.91 0.08
293.00 297.00 4.00 21.77 5.72 0.04
DDH-09-LB-176 2.00 8.10 6.10 5.56 1.67 0.01
220.00 270.00 50.00 1.95 24.10 0.13
299.00 351.00 52.00 1.85 27.18 0.25
DDH-09-LB-187 526.00 563.00 37.00 5.61 65.43 0.41
DDH-09-LB-188 113.00 118.00 5.00 5.91 5.97 0.03
DDH-09-LB-194 67.05 68.00 0.95 63.40 19.00 0.01
253.00 278.00 25.00 2.52 15.46 0.04
313.00 381.00 68.00 3.92 19.54 0.14
387.00 402.00 15.00 2.03 5.54 0.03
DDH-09-LB-195 229.00 299.00 70.00 4.69 24.24 0.23
347.00 368.00 21.00 2.82 8.30 0.06
397.00 433.15 36.15 6.24 17.35 0.06
includes 426.00 431.00 5.00 16.80 21.93 0.08
DDH-09-LB-196 81.50 86.00 4.50 6.33 60.45 0.01
159.10 179.00 19.90 3.97 26.82 0.31
188.97 206.00 17.03 5.86 24.52 0.23
DDH-09-LB-197 275.00 283.00 8.00 2.17 125.69 0.09
Hole 197 bottomed in mineralization
DDH-09-LB-198 55.00 76.00 21.00 4.19 0.93 0.01
115.00 137.00 22.00 3.18 28.11 0.27
Drill intercepts are based on a 0.5 gram/tonne gold cut-off with no upper
cut. Drill intercept lengths are down-hole lengths of mineralization with
true widths ranging between 20% -90% of the reported down-hole lengths
depending on hole angle.

A drill hole location map and complete listing of drill intercepts reported to date is available at

Ventana currently has nine drills active at the La Bodega project and is part of Ventana's ongoing gold exploration program in the California-Vetas gold mining district of northeast Colombia. Ventana's exploration activities are currently concentrated on the high-grade La Mascota zone. Mineral rights acquisitions in early 2009 consolidated a land position that now totals 4,573 hectares and 2.1 kilometres of strike extent.

Mineralization at the La Bodega project occurs as a series of north-northwest-dipping parallel-sheeted vein zones, breccias and mineralized faults hosted within a broad, northeast trending regional fault zone.

Review by Qualified Person, Quality Control and Reports

The results of Ventana's drilling program have been reviewed, verified and compiled by Jon Lehmann, L.P.G., a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Lehmann has over 25 years of mineral exploration experience, is a Licensed Professional Geologist in the State of Washington and a member in good standing of the Canadian Institute of Mining and Metallurgy.

To ensure reliable sample results Ventana has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and sawed in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent local laboratory established by a joint effort between the regional environmental permitting agency and the German Geological Survey, and at the Colombian preparation laboratory of ALS Chemex Laboratories. Prepared samples are direct-shipped to ALS Chemex Laboratories in Lima, Peru, an ISO 9001:2000 certified laboratory, for analysis.

Independent NI 43-101 technical reports have been prepared by EurGeol Miller O'Prey, P.Geo., for the La Bodega project and the nearby California-Vetas project to provide an updated review of the exploration activities that have occurred on the projects. These reports, dated June 14, 2008, are posted on Ventana's website at

About Ventana

Ventana is a Vancouver-based mineral exploration and development company with mineral rights to 4,573 hectares of exploration property in northeastern Colombia. Ventana is currently drilling at the La Bodega project with a focus on expanding the high-grade La Mascota zone. The Company's shares trade on the Toronto Stock Exchange under the symbol VEN.

For additional information please visit

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.

Contact Information