Ventana Gold Corp.
TSX : VEN

Ventana Gold Corp.

September 07, 2010 18:03 ET

Ventana Reports Additional La Bodega Project Drill Results Including 21 Metres of 11.9 Grams Per Tonne Gold in La Mascota Zone and 15 Metres of 7.8 Grams Per Tonne Gold in La Bodega Extension

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2010) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or the "Company") is pleased to announce drill results from 19 additional holes at the La Bodega gold project in Colombia. Results from 15 of these holes are reported here and a complete listing of drill intercepts is available on the Company's website at www.ventanagold.com.

Five of the new holes reported here (254, 262, 268, 274 and 280) are infill holes in the La Mascota zone; three of the new holes (259, 267, 276) are southwest infill holes on the El Cuatro mineral tenement; six holes (263, 264, 266, 271, 277 and 279) are extensions of the La Bodega zone toward the La Mascota zone; and one hole (283) is located on the newly discovered Aserradero zone southeast of La Mascota. Refer to the attached map and cross sections for details: http://media3.marketwire.com/docs/ven97c.pdf

In the La Mascota zone infill drilling is increasing continuity along the dip of the mineralization. On section 9675E, hole 274 intercepted 12.0 metres grading 8.24 grams per tonne gold and hole 280 intercepted 21.0 metres grading 11.90 grams per tonne gold about 50 metres further down-dip. Hole 254 on section 9550E returned 36.5 metres grading 4.04 grams per tonne gold. Hole 254 is located on the same section and above previously reported holes 85 and 180, which returned 36 metres grading 13.34 grams per tonne gold and 52.0 metres grading 5.92 grams per tonne gold, respectively. Hole 262 on section 9700 intercepted 18.5 metres grading 6.53 grams per tonne gold at 399 metres in depth. This intercept is below previously reported holes 168 (27.0 metres grading 10.55 grams per tonne gold), hole 119 (18.0 metres grading 9.27 grams per tonne) and hole 36 (27.4 metres grading 17.44 grams per tonne).

Infill drilling in conjunction with step-out drilling has begun on the El Cuatro mineral tenement. Hole 276 on section 8850E intercepted 66.0 metres grading 3.76 grams per tonne gold and hole 267 on section 8700E intercepted 8.1 metres grading 6.29 grams per tonne gold. Hole 267 is on the same section and about 80 metres up-dip from previously reported 207 which returned 38.1 metres grading 10.38 grams per tonne gold. Drilling in this area, is southwest of the recently acquired La Baja property, where drills are currently being mobilized.

The La Bodega zone exploration continues to generate excellent results that have increased the average grade of La Bodega and extended this zone at depth and toward La Mascota. Hole 266 on section 0100E intercepted 12.0 metres grading 4.62 grams per tonne gold at 462 metres in depth. Hole 279 on section 0150E returned 15.3 metres grading 7.84 grams per tonne gold, 42.62 grams per tonne silver and 0.72% copper at 495 metres of depth just 50 metres west of the previously reported hole 203, which returned 151.0 metres grading 16.75 grams per tonne gold. Also in the La Bodega extension area, hole 264 on section 0025E returned 15.0 metres of 5.75 grams per tonne gold, 68.19 grams per tonne silver and 0.89% copper at 466 metres of depth, 125 metres to the west of hole 279.

Finally, the first hole drilled on the previously untested Aserradero zone encountered 16.0 metres grading 0.75 grams per tonne gold and 6.0 metres grading 1.43 grams per tonne in hole 283 (section 0000E). These initial exploration results demonstrate the presence of mineralization in this new zone with further drilling expected to increase the size and grade of this parallel structure.

Drill sites are also being prepared for exploration of the La Baja tenement between El Cuatro and La Bodega. Additionally, drilling will resume on the Las Mercedes parallel zone in the next few weeks.

Select drill hole intercepts are reported below:



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DRILL HOLE FROM TO INTERVAL GOLD SILVER COPPER
NO. (metres) (metres) (metres) (grams/tonne) (grams/tonne) (%)
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DDH-10-LB-
254 77.00 85.03 8.03 5.10 5.88 0.02
Includes 81.00 82.00 1.00 35.70 16.00 0.02
97.00 100.27 3.27 3.70 23.79 0.07
168.00 204.52 36.52 4.04 21.81 0.15
Includes 193.90 195.80 1.90 22.94 118.68 0.37
and 202.00 204.52 2.52 13.55 82.11 0.62
221.00 223.00 2.00 2.95 8.03 0.05
253.00 255.00 2.00 2.47 35.88 0.16
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DDH-10-LB-
259 215.00 226.50 11.50 2.67 51.81 0.30
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DDH-10-LB-
262 134.00 140.00 6.00 3.81 25.98 0.20
242.01 247.00 4.99 2.89 9.14 0.02
256.00 286.00 30.00 2.81 17.06 0.11
Includes 274.10 277.00 2.90 13.32 111.11 0.72
320.00 389.00 69.00 2.30 15.29 0.16
Includes 364.20 366.10 1.90 8.86 15.06 0.12
and 376.00 381.00 5.00 6.54 61.63 0.95
398.50 417.00 18.50 6.43 4.72 0.01
Includes 409.00 412.00 3.00 34.67 15.00 0.01
434.00 443.00 9.00 2.04 1.74 0.01
452.00 453.00 1.00 3.67 0.92 0.01
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DDH-10-LB-
263 138.90 143.00 4.10 4.62 6.18 0.06
150.87 151.90 1.03 3.01 1.80 0.01
277.00 282.00 5.00 2.37 4.08 0.04
398.00 408.00 10.00 7.32 5.47 0.05
Includes 398.00 398.98 0.98 70.00 26.00 0.26
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DDH-10-LB-
264 73.00 78.00 5.00 8.86 8.69 0.05
114.50 116.00 1.50 22.40 31.50 0.22
122.00 123.00 1.00 15.55 52.00 0.34
166.80 167.94 1.14 8.89 3.99 0.01
373.07 378.00 4.93 5.00 30.45 0.29
466.00 481.00 15.00 5.75 68.19 0.89
Includes 470.00 473.00 3.00 14.81 170.50 2.29
505.96 522.80 16.84 2.79 8.53 0.08
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DDH-10-LB-
266 52.00 59.00 7.00 2.12 7.94 0.04
97.00 98.00 1.00 3.02 29.30 0.11
107.00 113.00 6.00 2.05 4.19 0.01
159.00 162.85 3.85 2.46 4.57 0.05
258.00 259.00 1.00 4.23 36.00 0.45
322.00 324.00 2.00 2.14 20.55 0.34
331.00 343.00 12.00 2.90 18.62 0.25
351.00 352.00 1.00 4.85 6.21 0.05
410.00 411.00 1.00 4.06 1.25 0.02
462.00 474.00 12.00 4.62 14.57 0.12
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DDH-10-LB-
267 142.80 150.87 8.07 6.29 28.66 0.49
155.00 156.00 1.00 3.18 15.65 0.44
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DDH-10-LB-
268 330.00 331.00 1.00 14.25 2.07 0.01
374.00 379.00 5.00 18.96 17.05 0.02
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Hole 268 bottomed in mineralization
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DDH-10-LB-
271 219.00 220.10 1.10 6.45 17.00 0.18
328.00 335.00 7.00 3.89 3.21 0.05
418.00 424.00 6.00 2.30 9.40 0.06
456.50 459.50 3.00 3.43 0.55 0.01
532.00 536.00 4.00 2.40 15.88 0.43
551.00 577.34 26.34 2.67 7.65 0.09
Includes 557.00 558.08 1.08 26.80 25.92 0.19
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DDH-10-LB-
274 194.00 206.00 12.00 8.24 113.57 1.04
Includes 198.00 202.00 4.00 18.74 172.25 1.76
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DDH-10-LB-
276 268.00 334.00 66.00 3.76 25.39 0.22
Includes 320.00 321.00 1.00 54.50 349.00 0.51
and 326.00 331.00 5.00 26.94 10.41 0.01
-------------------------------------------------------------
Hole 276 bottomed in mineralization
---------------------------------------------------------------------------
DDH-10-LB-
277 0.00 15.00 15.00 4.34 74.86 0.01
32.00 35.00 3.00 3.61 4.21 0.01
---------------------------------------------------------------------------
DDH-10-LB-
279 224.02 225.00 0.98 4.28 4.45 0.03
298.90 299.90 1.00 3.43 19.10 0.37
353.00 354.00 1.00 5.28 26.00 0.19
399.00 401.42 2.42 3.38 8.89 0.10
494.69 510.00 15.31 7.84 42.62 0.72
552.40 553.82 1.42 2.38 8.51 0.06
-------------------------------------------------------------
Hole 279 bottomed in mineralization
---------------------------------------------------------------------------
DDH-10-LB-
280 16.50 18.50 2.00 2.25 11.40 0.01
165.00 166.00 1.00 7.69 220.00 0.23
210.00 213.00 3.00 6.68 17.35 0.15
219.80 240.20 21.40 11.90 13.76 0.06
Includes 227.99 229.20 1.21 170.00 139.00 0.60
248.00 249.00 1.00 6.29 11.00 0.01
---------------------------------------------------------------------------
DDH-10-LB-
283 76.90 78.00 1.10 3.95 1.15 0.01
148.83 164.50 15.67 0.75 1.39 0.01
202.00 203.00 1.00 2.84 0.53 0.01
313.90 319.90 6.00 1.43 4.12 0.01
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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.


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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