Vancouver – Ventana Gold‘s (VEN-T) latest drill results from its La Bodega gold-silver-copper project in Colombia continue to show high grade intercepts from both infill and stepout exploration.
The company has been concentrating its nine drill rigs on infilling the central La Mascota zone and stepping out on the El Cuatro tenements that lie southwest on strike of the main La Bodega property. The latest release included 15 holes from the La Mascota zone and four from the El Cuatro property that while showing good grades, are not as high as some past results.
At La Mascota, hole 239 cut 50 metres averaging 6.25 grams gold per tonne, 29.75 grams silver per tonne and 0.17% copper from 296 metres depth. Roughly 300 metres northeast, Hole 233 hit cut 11 metres grading 13.98 grams gold, 107.17 grams silver and 0.91% copper from 313 metres downhole.
Hole 216, drilled southwest of hole 239, hit three intervals of mineralization between 402 and 561 metres depth, indicating deeper mineralization in the area. The hole cut 20.7 metres carrying 5.52 grams gold, 17.07 grams silver and 0.03% copper from 402 metres, 36 metres carrying 3.14 grams gold, 54.50 grams silver and 0.41% copper from 428 metres and 56 metres averaging 3.6 grams gold, 16.3 grams silver and 0.05% copper from 505 metres depth.
On the El Cuatro property, hole 238 intercepted 76 metres averaging 1.31 grams gold, 33.88 grams silver and 0.51% copper from 276 metres and included a 5 metre section grading 5.49 grams gold, 222.85 grams silver and 4.94% copper. Hole 228 hit 20 metres grading 1.12 grams gold, 98.98 grams silver and 0.04% copper from 83 metres and 32 metres carrying 2.33 grams gold, 30.24 grams silver and 0.24% copper from 337. Ventana abandoned Hole 228 and 219 from the El Cuatro area prior to reaching their target depth.
Ventana reports that recent drilling in the El Cuatro area is indicating the presence of porphyry-style mineralization typified by increasing base metal values.
The company plans to add to the nine drill rigs on its property to explore the recently acquired La Baja property once the mineral title transfer is complete.
Standard & Poor’s recently announced it would add Ventana to the S&P/TSX global gold index and global mining index. The company also recently completed its previously announced $20.7 million private placement with Silver Wheaton (SLW-T, SLW-N).
Ventana’s stock price closed up 9¢ at $10.19 on the day. The company has a 52-week share price between $3.75 and $12.91 and 97 million shares outstanding.
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