Ventana Gold Corp.
TSX : VEN

Ventana Gold Corp.

October 05, 2010 09:16 ET

Ventana Reports Additional La Bodega Project Drill Results 28 Metres Grading 42.78 Grams Per Tonne Gold in La Mascota and the Aserradero Zone Returns 6 Metres Grading 7.94 Grams Per Tonne Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2010) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or the "Company") is pleased to announce drill results from 16 additional holes of which 13 holes are discussed at the La Bodega gold project in Colombia. A complete listing of drill intercepts is available on the Company's website at www.ventanagold.com.

Two of the new holes (281 and 288) are located on the recently defined Aserradero zone southeast of and parallel to La Mascota. Ten of the additional holes reported here (270, 292, 296, 300, 301, 303, 304, 308, 309 and 313) are more infill holes in the La Mascota zone; and one hole (285) is an infill hole on the El Cuatro tenement. Refer to the attached map and cross sections for details: http://media3.marketwire.com/docs/ven104l.pdf.

Two additional holes from the first phase of drilling on the Aserradero target returned encouraging results which have increased confidence that another parallel zone of mineralization has been discovered. Holes 281 and 288 were drilled on section 0075E and returned intercepts of 6.0 metres grading 7.94 grams per tonne gold and 6.1 metres of 3.44 grams per tonne gold, respectively. These initial drill results demonstrate the presence of higher grade mineralization similar to the main La Mascota structure. Ventana currently has one drill dedicated to Aserradero exploration and will redeploy a second drill to this zone from the La Mascota infill drilling.

Results from the infill drilling in La Mascota continue to support the consistency of mineralization along strike and down dip in this zone. Hole 296 on section 9875E returned a standout intercept of 28.0 metres grading 42.78 grams per tonne gold starting at the relatively shallow depth of 178 metres. 

Select drill holes with their respective intercepts and true widths are reported below:

Drill Hole #   From (metres)   To (metres)   Drill Intercept (metres)   True Width   Gold (g/t)   Silver (g/t)   Copper (%)
DDH-10-L270   28.95   32.00   3.05   1.30   4.45   3.68   0.03
    48.00   51.00   3.00   1.30   2.25   23.14   0.05
    102.00   106.00   4.00   1.80   3.80   13.16   0.16
    191.00   206.00   15.00   6.70   3.03   22.36   0.15
    295.00   303.00   8.00   3.5   3.79   22.02   0.11
    393.00   394.00   1.00   0.40   4.10   139.00   1.08
    429.00   435.00   6.00   2.70   2.26   1.69   0.01
DDH-10-L281   71.00   77.00   6.00   4.50   7.94   5.88   0.03
    110.00   117.00   7.00   5.20   2.32   27.17   0.03
    191.00   192.00   1.00   0.70   2.52   1.74   0.01
    227.99   229.00   1.01   0.80   2.59   0.88   0.03
DDH-10-L285   134.5   135.5   1.00   0.70   16.70   5.00   0.05
    339.00   343.00   4.00   2.70   3.00   3.34   0.04
Hole 285 bottomed in mineralization
DDH-10-L288   259.00   265.10   6.10   3.60   3.44   2.57   0.03
DDH-10-L292   44.00   46.00   2.00   1.30   5.93   7.24   0.05
    124.00   156.97   32.97   20.90   3.81   33.53   0.31
includes   145.00   147.00   2.00   1.30   22.36   165.50   1.47
and   151.00   154.00   3.00   1.95   14.39   183.33   1.73
    161.75   163.87   2.12   1.35   8.55   7.40   0.03
    168.00   176.00   8.00   5.00   2.65   6.24   0.03
DDH-10-L296   57.91   60.00   2.09   1.20   2.48   4.54   0.01
    112.00   113.00   1.00   0.60   4.86   26.00   0.03
    125.00   126.00   1.00   0.60   100.50   26.00   0.01
    178.00   206.00   28.00   16.20   42.78   54.18   0.22
includes   187.00   189.00   2.00   1.20   525.40   74.50   0.04
DDH-10-L300   79.00   86.00   7.00   4.10   2.09   23.77   0.09
    89.91   109.00   19.09   11.10   3.09   28.96   0.11
includes   100.58   101.60   1.02   0.60   23.00   225.00   0.17
    149.00   163.93   14.93   8.60   3.96   17.15   0.13
Includes   158.55   162.00   3.45   2.10   11.44   45.25   0.32
DDH-10-L301   78.80   82.40   3.60   2.00   2.26   28.54   0.02
    110.00   113.00   3.00   1.70   2.89   26.04   0.01
    149.00   161.00   12.00   6.70   2.61   9.15   0.01
includes   149.00   150.00   1.00   0.60   22.30   51.00   0.05
    166.11   175.00   8.89   5.00   13.95   90.73   0.93
includes   168.00   170.00   2.00   1.20   48.98   217.00   2.39
DDH-10-L303   65.00   67.06   2.06   1.50   7.44   125.23   0.40
    88.85   94.20   5.35   3.80   3.01   45.85   0.12
    117.80   132.00   14.20   10.30   4.50   29.18   0.25
includes   130.00   132.00   2.00   1.50   19.75   18.00   0.08
DDH-10-L304   19.50   25.50   6.00   3.30   3.36   12.39   0.01
    90.00   96.00   6.00   3.30   4.41   36.53   0.17
    154.02   155.24   1.22   0.70   3.90   7.86   0.41
    159.00   177.00   18.00   10.10   8.97   56.21   0.50
includes   174.00   177.00   3.00   2.20   19.48   64.00   0.29
DDH-10-L308   68.00   69.00   1.00   0.70   23.80   210.00   0.37
    133.40   142.93   9.53   6.30   4.47   38.46   0.28
DDH-10-L309   84.00   89.10   5.10   3.60   4.16   23.53   0.06
    109.00   111.00   2.00   1.40   2.43   13.76   0.21
    119.00   170.00   51.00   35.90   2.43   15.61   0.13
includes   160.00   164.54   4.54   3.20   8.61   81.58   0.59
    199.00   201.04   2.04   1.40   4.65   1.62   0.01
DDH-10-L313   149.00   183.00   34.00   22.40   3.57   17.78   0.16
includes   175.75   180.20   4.45   2.90   7.70   73.71   0.59

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 calculated assuming a 70 degree dip for the mineralized structure.

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 Samuel Engineering, Inc., dated May 1, 2010 for the La Bodega project and by EurGeol Miller O'Prey, P.Geo., dated June 14, 2008 for the nearby California-Vetas project, to provide an updated review of the exploration activities that have occurred on the projects. These reports are posted on Ventana's website at www.ventanagold.com.

About Ventana

Ventana is a Vancouver-based mineral exploration and development company with mineral rights to 4,590 hectares of exploration property in northeastern Colombia. The Company's flagship La Bodega project in northeastern Columbia 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. 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 is advancing 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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