Ventana Gold Corp.

Ventana Gold Corp.

May 19, 2010 09:02 ET

Ventana Announces Drill Results from La Bodega Zone-4.8 Metres of 443.8 Grams Per Tonne Gold Intercepted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2010) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or "the Company") is pleased to announce results from exploration drilling on its La Bodega zone northeast of the La Mascota zone along the California-Vetas mineralized trend.

The La Bodega zone is Ventana's initial high-grade discovery in the California-Vetas district in 2006. The zone has been defined along a strike length of 350 metres, to a depth of 250 metres and remains open to the southwest and at depth. Geologic interpretation to date indicates that the La Bodega zone is a separate deposit from La Mascota. However, recent analysis of the La Bodega zone assay database indicates the La Bodega zone could continue further to the southwest toward La Mascota.

In January 2010 Ventana redeployed two drills back to the La Bodega zone to conduct infill drilling on certain sections of La Bodega. The Company has received results from three holes – 203, 210 and 217 – (to see attached map and cross sections please click here: Most notable is hole 203 on the far southwest end of La Bodega on section 200E. Starting at 93.0 metres depth, a 151.0 metre interval grading 16.8 grams per tonne gold was intercepted. Within that interval is an intercept of 4.8 metres grading 443.8 grams per tonne gold, which represents the highest grade intercept since exploration drilling was initiated at the La Bodega project. Throughout this intercept grades were consistent along the 4.8 metre length.

Hole 217 on section 425E near the northeast boundary of the project intercepted 71.4 metres grading 7.2 grams per tonne gold, 38.7 grams per tonne silver and 0.8% copper. Within that interval was 18.0 metres grading 13.1 grams per tonne gold, 61.0 grams per tonne silver and 1.0% copper. Additionally, the interval contained 4.7 metres grading 17.6 grams per tonne gold, 101.1 grams per tonne silver and 1.9% copper.

Ventana President and CEO Steve Orr said: "These results indicate a higher grade tenor for this zone of mineralization, and open up new opportunities to expand the known mineralization. Hole 203 is of particular importance, returning the best intercepts we have seen to date anywhere within the La Bodega project. We will now continue drilling to the southwest to explore extensions of the La Bodega zone toward the La Mascota zone."

Select drill hole intercepts are reported below:

NO. (metres) (metres) (metres) (grams/tonne) (grams/tonne) (%)
DDH-09-LB203 92.96 244.00 151.04 16.75 4.46 0.06
  Includes 94.00 98.00 4.00 7.32 5.87 0.02
    and 108.00 115.00 7.00 8.99 2.13 0.02
    and 179.00 184.00 5.00 5.93 3.52 0.04
    and 200.00 209.00 9.00 10.50 16.63 0.25
    and 225.20 230.00 4.80 443.78 1.00 0.20
  261.00 327.00 66.00 0.97 1.15 0.02
DDH-09-LB-210 44.80 53.00 8.20 3.48 5.68 0.05
  113.00 134.90 21.90 3.50 25.11 0.40
DDH-09-LB-217 9.14 16.50 7.36 1.08 3.68 0.01
  41.00 51.00 10.00 2.40 4.48 0.02
  114.00 129.00 15.00 1.14 4.30 0.07
  138.00 152.00 14.00 4.79 13.56 0.11
  175.00 195.07 20.07 1.13 3.58 0.05
  226.00 297.40 71.40 7.23 38.68 0.71
  Includes 240.00 258.00 18.00 13.13 60.98 1.04
    and 280.30 285.00 4.70 17.60 101.09 1.88
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

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. The Company's flagship La Bodega gold-silver project is located in northeastern Columbia immediately adjacent to the Angostura gold-silver project. The La Bodega project contains multiple high-grade zones of gold, silver and copper mineralization occurring in north-northwest dipping parallel-sheeted vein zones, breccias and mineralized faults within a broad, northeast trending regional fault zone.

Ventana recently announced an agreement to acquire the La Baja land and mineral rights, which are strategically located immediately to the southwest of the La Bodega tenements, consolidating Ventana's ownership along 2.1 kilometres within this prolific gold district.

The La Bodega project has excellent road access and is close to existing infrastructure including power and water. The Company is conducting an aggressive exploration program and progressing engineering studies to develop the deposit. Ventana's shares trade on the Toronto Stock Exchange under the symbol VEN.

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.

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