Vendetta Mining Corp.
TSX VENTURE : VTT

March 16, 2011 11:10 ET

Vendetta Stakes Additional Ground and Commences Phase 1 Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2011) - Vendetta Mining Corp. (TSX VENTURE:VTT) ("Vendetta" or the "Company") a Vancouver based mineral exploration company, announces that it has staked two new mineral claims that cover potential extensions of known mineralization in the southeastern part of the Company's Honeymoon East property located in southern British Columbia.

The Honeymoon East property is an early stage exploration project that has potential for poly-metallic VMS type deposits and for structurally controlled vein type gold mineralization. The most advanced target on the property is a geochemical anomaly referred to as the Joseph Prospect identified by Esso Minerals in the early 1980's. Esso drilled two shallow holes in 1984 and intersected a 9.2m wide interval that assayed 2.39% lead, 1.05% zinc, 30.9 g/t silver and 1.27% barium (BCMEM Minfile records, 1984). A NI 43-101 compliant report on the property (entitled "Review of Technical Information and Proposed Exploration Program for the Honeymoon East Property" prepared by Carl A. Von Einsiedel, P.Geo and dated July 20, 2010) noted that the geochemical anomaly that defines the Joseph Prospect is more extensive than reported by Esso and that potential extensions of this zone to the north were covered by mineral tenures owned by unrelated third parties. A copy of this report can be accessed under the Company's profile on SEDAR (www.sedar.com).

The new claims acquired by Vendetta comprise 241.2 hectares that cover the potential north extensions of the Joseph target. The new claim area is overburden covered however a review of BC Ministry of Mines assessment reports for the new claims indicates that a previous operator (Spokane Resources Ltd.) completed trenching and till geochemical sampling in 2001. Based on the results of the 2001 program the previous owners concluded that the claims cover potential extensions of the Joseph Prospect.

The main objective of the proposed Stage 1 exploration program for the Honeymoon East property is to determine if additional VMS type mineralization occurs along the extensions of the airborne EM conductors that are associated with the Joseph Prospect in the eastern part of the property. Based on the new claim acquisition the Company has amended the proposed Stage 1 exploration program to include geochemical sampling on the newly acquired claims.

Preliminary work on the property will involve reconnaissance scale geochemical surveys along the N-NNW trending airborne EM conductors in the eastern part of the property. A total of 500 to 600 widely spaced samples will be collected along 200 to 400 meter spaced profile lines over a strike length of roughly five kilometers across the Honeymoon East property, including the newly acquired claims. The target area is overburden covered and geochemical surveys should determine if additional mineralized zones are present along the projected extension of the rock units that host the Joseph Prospect. The estimated cost of the geochemical surveys including the proposed work on the new claims is approximately $100,000 which forms part of the Phase 1 exploration program as set out in the abovementioned technical report. If warranted, follow up trenching will be completed later in the field season.

The Company has authorized its consultants to complete as much of the reconnaissance surveys as is practical under current conditions. Results will be announced as they become available.

Carl von Einsiedel, P.Geo, is the qualified person who has, on behalf of the Company, reviewed the geologic information summarized in this news release.

ON BEHALF OF THE BOARD

Michael Williams, President, CEO, Secretary and Director

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Vendetta Mining Corp. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Vendetta Mining Corp. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Vendetta Mining Corp.
    Michael Williams
    President, CEO, Secretary and Director
    (604) 638-8067
    (604) 648-8105 (FAX)