Vendome Resources Corp.

Vendome Resources Corp.

February 08, 2013 08:00 ET

Vendome Shareholders Update 2012-2013 Outlook

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2013) - Vendome Resources Corp. (TSX VENTURE:VDR)(FRANKFURT:9VR) ("Vendome" or the "Company") is pleased to provide a review to its shareholders of its Mexican exploration interests, as follows:

  • Preliminary reconnaissance samples at the San Javier Mine Property collected in 2010 returned values up to 15,042 g/tonne silver, 3.19% zinc, and 3.41% lead. Mineralization observed in the quartz veins consisted of arsenopyrite, pyrite, chalcopyrite, argentite, galena, and sphalerite.

  • The results from the December 2011, San Javier Mine random grab sampling program returned values of up to 1,384 g/t silver, 4.18% zinc and 7.32% lead. Furthermore, these results considerably expanded the known aerial extent of the property's stockwork vein system potential.

  • In January 2012 the Company retained the services of ACA Howe International Ltd. (ACA Howe) as its independent geological consultants, in order to assist in the planning and management of future exploration work at the company's Guerrero State, Mexico properties.

  • The vendor of the San Javier concession, Camsim Minas SA de CV, agreed to give Vendome an expenditure credit in the amount of $400,000 in exchange for 800,000 common shares of the company, having a deemed price of $0.50 per share.

  • During the spring 2012 field program, 42 grab samples were collected from exposed vein material. Values for silver ranged from <2 grams per tonne to 7,212 grams per tonne, with an average grade of 925 grams per tonne. Of the 42 grab samples, four (4) returned silver values less than 10 grams per tonne, 10 returned silver values between 10 and 100 grams per tonne, 18 returned silver values between 100 and 1,000 grams per tonne, and 10 returned silver values greater than 1,000 grams per tonne. Additionally, values for lead in these grab samples ranged from 0.1% to 5%, and zinc ranged from 0.1% to 6%.

  • In excess of 340 chip samples were collected during the Spring 2012 field program across exposed vein and wall rock material in the Veta Tajo area. Chip channels were typically 2 to 3 cm wide and 1 cm deep and were cut using a hammer and moil. Laboratory analysis of these samples returned silver values ranging from < 2 grams per tonne to bonanza grades in excess of 2,000 grams per tonne, with a high light of 471 g/tonne over a continuous chip channel length of 16 m. Vendome management is extremely encouraged by these chip results in that the potential for bulk silver mineralization in wall rock, in addition to high grade narrow vein mineralization has been confirmed.

  • The company received a very encouraging National Instrument 43-101 Technical Report for its San Javier, La Diana and San Miguel projects. Highlights of the report suggest that the mineralized polymetallic vein systems on the San Javier Project are related to regional scale structures that penetrate to great depth, and, moreover, that it is probable that additional veins are present in proximity to other regional structures on and near the San Javier property. Furthermore, based on ASTER satellite imagery the apparent disposition of hydrothermal alteration and structure, the La Diana and San Miguel concessions may host mineralization similar to that found at the San Javier Property, and, with it, the possibility of multiple prospects and occurrences across those properties.

  • Vendome has strengthened its management team, with the appointment of two new Directors, Mr. Victor Dario of Zurich, Switzerland, and Mr. Robert Chisholm of Burlington, Ontario, Canada.

Franz Kozich, CEO of Vendome Resources commented: "All of the preliminary ground work has been completed. Management is very enthusiastic about the values returned to date, and we are now preparing for a 3,000 metre drilling campaign to confirm the high grade bonanza-silver values found at surface."

Warren Hawkins, P.Eng, a "Qualified Person", within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Hawkins is not considered to be "independent" of the Corporation (as defined in National Instrument 43-101), as he currently holds securities of the Corporation.

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