Ventana Gold Corp.

Ventana Gold Corp.

May 12, 2009 15:07 ET

Ventana Extends La Mascota to Depth and Discovers New Mineralized Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2009) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or the "Company") is pleased to provide drill results from the first four holes of its 2009 drill program. The Company currently has three core drills operating focused on testing the down-dip and strike extensions of the high grade La Mascota mineralized zone on its flagship La Bodega gold property in Colombia.

Ventana has approximately tripled the known depth extension of the La Mascota zone with the results of holes 107 to 109. Prior to the current drilling program, the northeast-trending La Mascota mineralization had been defined along 725 metres of strike length, to a depth of 100 metres down-dip, with estimated true composite widths of 20 to 80 metres and remained open for expansion in all directions. Drill holes 106 through 109 reported on here were drilled in the southwest portion of La Mascota to test the down-dip extension of known mineralization and have confirmed that potentially economic grades and widths of gold mineralization extends to at least 250 - 270 metres down-dip in that area. A new discovery in hole 109 cut a deeper interval from 383 to 425 metres depth grading 5.85 grams per tonne of gold over 42 metres and appears to be a parallel mineralized structure situated in the footwall of the main mineralized structure.

The 2009 drill program is part of Ventana's ongoing gold exploration program in the California-Vetas gold mining district of northeast Colombia. Ventana holds rights to 4,573-hectares of land in the district. Ventana's exploration activities and all drilling to date have been concentrated on its flagship 185-hectare La Bodega property. Recent property acquisitions have consolidated a land position that provides an additional 1,300 metres of potential strike length to extend the La Mascota zone to the southwest.

Gold assay results with completed QA/QC verification have been compiled for 109 drill holes. Select drill hole intercepts from holes 106 to 109 are reported below:

HOLE NO. (metres) (metres) (metres) (grams/tonne)
La Mascota Zone
DDH-09-LB-106 Hole abandoned -
due to poor core recovery;
re-drilled as Hole 108
DDH-09-LB-107 202.00 209.00 7.00 5.87
and 317.00 341.70 24.70 8.01
DDH-09-LB-108 185.00 206.00 21.00 1.44
and 239.90 245.00 5.10 9.67
and 285.00 300.00 15.00 2.42
and 305.00 309.00 4.00 6.55
DDH-09-LB-109 254.00 263.00 9.00 3.15
and 285.00 319.00 34.00 3.06
and 329.00 350.00 21.00 1.26
and 383.00 425.00 42.00 5.85

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 109 holes are available at

Gold mineralization at the La Bodega property is hosted within the same broad, northeast-trending fault zone as the adjoining Angostura gold deposit of Greystar Resources, which contains a National Instrument 43-101 ("NI 43-101") compliant measured and indicated resource of 11.5 million ounces as announced by Greystar in December 2008. Mineralization at La Bodega 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 1,275-metre strike length extending south-westerly from the property line shared with Greystar Resources. The first 350 metres comprises the La Bodega zone, hosting the historical artisanal La Bodega mine. The next 200 metres comprises the La Rosa zone, where steep topography has severely limited drill access. The few holes drilled thus far 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 mineralization or is a more weakly mineralized segment. The next 725 metres beyond La Rosa comprises the La Mascota zone, where drilling is currently concentrated. 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 Mascota Drill Results

Both drill holes 106 and 108 were drilled from the same site at inclinations of -87.5 degrees bearing due south. Hole 106 was abandoned due to difficult drilling conditions and poor core recovery and re-drilled as hole 108. Hole 108 cut through nine mineralized intervals between 185.0 and 309.0 metres drilled depth, each ranging from 2.0 to 21.0 metres wide, indicating that the mineralized structure has split into a series of parallel zones in that area. The best of these intercepts included 5.1 metres of 9.67 grams per tonne of gold starting at 239.9 metres drilled depth and closely followed by 2.0 metres of 20.33 grams per tonne of gold starting at 253.0 metres drilled depth.

Drill holes 107 and 109 were also drilled as vertical holes from the same drill pad, located 125 metres southwest of holes 106 and 108. Hole 107 was terminated at 341.7 metres due to difficult drilling conditions after cutting through 24.7 metres of 8.01 grams per tonne of gold (including 8.0 metres of 14.68 grams per tonne of gold) between 317.0 and 341.7 metres drilled depth with the hole bottoming in mineralization grading 10.69 grams per tonne of gold. Hole 109 was then successfully drilled as a twin to test the full width of the mineralization observed in hole 107, which it encountered between 285.0 and 319.0 metres drilled depth, cutting 34.0 metres of 3.06 grams per tonne gold (including 8.7 metres of 7.58 grams per tonne of gold). The down-hole drill survey showed that hole 109 deviated four degrees in inclination toward the southeast resulting in cutting the same zone approximately 20 metres up-dip from the hole 107 intercept. Hole 109 reached a total depth of 437.17 metres and in the process cut what appears to be a new, footwall mineralized structure between 383.0 and 425.0 metres drilled depth that intercepted 42.0 metres of 5.85 grams per tonne gold (including 8.5 metres of 8.69 grams per tonne gold).

Review by Qualified Person, Quality Control and Reports

The results of the Company's drilling program have been reviewed, verified and compiled by Jon Lehmann, L.P.G., a Qualified Person as defined by 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 have been prepared and updated by EurGeol Miller O'Prey, PGeo, for the La Bodega project and the nearby California-Vetas project to provide a current review of the exploration activities that have occurred on the projects. These reports, dated June 14, 2008, are posted on the Company's website at

About Ventana

Ventana holds rights to 4,573 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. The Company plans to complete a 43-101 mineral resource estimate in 2009.

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.

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