Ventana Gold Corp.

Ventana Gold Corp.

March 13, 2009 10:13 ET

Ventana Announces Further La Bodega Drill Results-48.00 Metres of 5.35 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2009) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or "the Company") is pleased to provide drill results from holes 86 through 94 on its flagship 185-hectare La Bodega property, part of its ongoing gold exploration program in the California-Vetas gold mining district located in northeast Colombia. Of particular note are the results of drill holes 91 and 94, step-out holes drilled from the same location which have extended the La Mascota mineralization an additional 125 metres to the southwest.

Hole 91 cut two strongly mineralized zones, separated by 28 metres, which contained 7.37 grams per tonne gold over 26.00 metres and 8.68 grams per tonne gold over 22.00 metres. Hole 94 also cut the two mineralized zones approximately 30 metres further down-dip, with intercepts of 4.17 grams per tonne gold over 22.00 metres and 2.65 grams per tonne gold over 81.80 metres, separated by 35 metres. The La Mascota zone has now been tested over 625 metres of strike length and 100 metres down-dip, remaining open for expansion in all directions.

Ventana has drilled 105 core holes totalling 25,457 metres at the La Bodega property through the end of 2008. As announced on February 23, 2009, Ventana has begun a new 2009 drill program to further test strike and dip extensions of the La Mascota mineralization. Two machines are currently drilling at the project site and a third drill has been commissioned which should arrive within 10 days.

Gold assay results with completed QA/QC verification have been compiled through drill hole 94. Select drill hole intercepts from holes 86 through 94 are reported below:

DRILL HOLE NO. (metres) (metres) (metres) (grams/tonne)
La Mascota Zone
DDH-08-LB-087 143.00 191.00 48.00 5.35
DDH-08-LB-089 103.00 129.00 26.00 2.80
DDH-08-LB-091 157.00 183.00 26.00 7.37
and 211.00 233.00 22.00 8.68
DDH-08-LB-094 169.00 191.00 22.00 4.17
and 226.20 308.00 81.80 2.65

Drill intercepts are based on a 0.5 gram/tonne gold cut-off with no
upper cut. Drill intercept lengths are down-hole lengths reflecting
apparent widths of mineralization with true widths ranging between
60% -100% of the reported down-hole lengths.

A drill hole location map and a complete listing of drill intercepts from the first 94 holes are available at

Gold mineralization at the La Bodega property is hosted within a broad, northeast-trending fault zone and principally occurs as a series of north-northwest-dipping, parallel-sheeted vein zones, breccias and mineralized faults situated within an envelope of pervasively phyllic altered and variably silicified gneiss and intrusive rocks.

Core drilling by Ventana to date has concentrated on testing a 1,075-metre strike length extending southwest from the property line shared with Greystar Resources. The first 350 metres comprises the La Bodega zone, hosting the namesake La Bodega artisanal mine. The next 200 metres comprises the La Rosa zone, where steep topography has severely limited drill access. The few holes drilled in the La Rosa zone have provided mixed results to date and it remains uncertain whether this may be a fault block which has offset the main mineralized structure or is a more weakly mineralized segment. The next 625 metres beyond La Rosa comprises the La Mascota zone. An additional zone, Las Mercedes, is a relatively new target area situated 400 metres to the south of the La Bodega zone. Initial scout drill holes at Las Mercedes have intercepted encouraging gold mineralization but more drilling is required to define the geometry and extent of this mineralization.

La Bodega Zone

Drill results to date have shown the La Bodega zone to contain intersections of potentially ore grade material over composite true widths of 60 to 150 metres along a 350 metre strike length and to depths of at least 300 meters, remaining open at depth. A high-grade zone in the footwall of the main mineralized structure was discovered last year and has been traced over a 150 metre strike length where it appears to merge into the main structure to the northeast and remains open to the southwest. One drill hole at La Bodega is included in the holes reported upon here (DDH-08-LB-086), this hole tested a portion of the footwall to the south of the aforementioned high grade zone and cut through a series of relatively thin, lower grade, mineralized structures.

La Mascota Zone

The La Mascota zone has been shown to contain narrower, though generally higher-grade intersections of potentially ore grade material than that observed in the La Bodega zone, with estimated true composite widths ranging from 20 to 80 meters. The drill holes reported upon here include DDH-08-LB-087 which was drilled to infill and test continuity, DDH-08-LB-089 which was drilled to extend mineralization to the southwest of holes 82 and 85 (24 metres of 3.41 grams per tonne gold and 36 metres of 13.34 grams per tonne gold, respectively) and holes DDH-LB-091 and 094 which were step-out holes that extended the La Mascota mineralization an additional 125 metres to the southwest. They tested the mineralized zone to a depth of 100 metres at that location. La Mascota remains open to expansion in all directions.

Las Mercedes Zone

Drill holes reported upon here include DDH-08-LB-088, 90, 92 and 93. The first three of these holes cut through heavily faulted and fractured rock containing a series of mineralized zones ranging from 1.0 to 11.5 metres wide with gold grades ranging between 0.7 grams per tonne and 3.18 grams per tonne. Two 1.0 metre wide, high-grade structures were intercepted in hole 88 including 1.0 metre of 22.29 g/t Au at 206 metres depth and 1.0 metre of 24.38 grams per tonne at 212 metres depth. Drill hole 93 was abandoned due to caving hole conditions. Further drilling is required to define the geometry of the mineralization encountered to date.

Quality Control

Drill results have been reviewed, verified and compiled by Ventana's Vice President of Exploration, Jon Lehmann, L.P.G., a qualified person for the purpose of 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.

Ventana utilizes a rigorous QA/QC program with respect to sampling procedures including chain-of-custody tracking of core until shipment to the analytical laboratory. Core is sawn in half with one half shipped to an independent prep lab and samples shipped for analysis to ACME Analytical Laboratories Ltd., an ISO 9001:2000 and ISO 17025 certified laboratory in Vancouver, B.C. The remainder of the core is stored in a secured storage facility for future assay verification. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance and mineralized intervals are re-assayed at Inspectorate America Corp. analytical laboratory in Sparks, Nevada.

Independent NI 43-101 Technical Reports were prepared by EurGeol Miller O'Prey, PGeo, for the La Bodega project and the nearby California-Vetas project to provide a review of the exploration activities that have occurred on the projects. These reports are dated June 14, 2008 and are posted on the company's web site at Ventana plans to complete a NI 43-101 mineral resource estimate in 2009.

About Ventana

Ventana holds rights to 4,518 hectares of exploration property in the California-Vetas gold district in Colombia, of which 3,710 hectares are wholly owned with the remainder under option to acquire a 100% interest. The Company is currently drilling at La Bodega, a property lying adjacent to Greystar Resources' Angostura gold-silver deposit.

Forward-looking Statements

The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Ventana's latest quarterly report and management discussion and analysis. Ventana assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news release.

Contact Information