Vena Finds New High-Grade Uranium Target in Macusani, Peru.TORONTO -- Vena Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:VEM VEM Versatile Exercise Mine (US Navy) VEM Volume Electronic Mail (Canada Post Corporation) VEM Virtual Electron Microscope VEM Value Engineering Manager VEM Value Estimation Model )(LIMA Lima, city, Peru Lima (lē`mə, Span. lē`mä), city (1990 metropolitan area est. pop. 6,400,000), W Peru, capital and largest city of Peru. Its port is Callao. :VEM)(FRANKFURT:V1R) reports the discovery of a new high-grade Uranium target in Macusani resulting from the on-going uranium exploration and sampling at the Company's extensive uranium concessions. The project area comprises 15,500 hectares of 100% controlled land in Puno, Peru. Previous campaigns also found significant mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. as reported on February 13, 2006. New High-Grade Discovery A new area that extends for two hectares - Calvario Chico East, has been identified where surface grab samples Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole have returned the following values using the X-Ray Diffraction method:
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Element: U3O8
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Units: % CPS Description
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Detection Limit: 0.005
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Reference Method: FUS-XRF
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M-001 9.08 25000 channel sample from 20cm by 40cm
along fracture
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M-002 1.05 11000 fracture filled with torbenite and
autenite 50 cm wide
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M-003 0.851 3500 exposed fracture filled with
autenite - U dissmination along
trench walls
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M-004 0.122 1500 closed and narrow fracture filled
with torbenite
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M-005 0.1 3000 narrow fracture filled with U
mineralization
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M-006 2.08 15000 narrow fracture filled with
tobernite and autenite
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M-007 0.193 1500 narrow fracture filled with
autenite
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M-008 0.021 1200 narrow fracture filled with
tobernite
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Calvario Chico East is in addition to the targets already identified in Macusani: Concharrumio East, Concharrumio West, Concharrumio Center, Calvario Chico West, Isivilla, Tantamarco North, Tuturamani East and Tuturamani Center; as well as the previously announced disseminated sandstone targets in the Munani region. The Company is developing a more complete understanding of the geological nature of the uranium mineralization occurrences in Macusani and Munani and is preparing a drilling campaign in the Concharrumio prospects in Macusani as soon as government permits are received to test these targets at depth and produce a 43-101 compliant resource estimate. The company is pleased to report that it has received the required agreement with the community of Corani to embark on a detailed exploration program, including drilling. Vena has hired Val D'Or Val d'Or (väl dôr), town (1991 pop. 23,842), SW Que., Canada, SE of Rouyn-Noranda. It is a mining center. Gold was discovered in the region in 1909; copper, zinc, lead, and molybdenum are also mined. to begin a geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. campaign for better target definition. Radon radon (rā`dŏn), gaseous radioactive chemical element; symbol Rn; at. no. 86; mass no. of most stable isotope 222; m.p. about −71°C;; b.p. −61.8°C;; density 9.73 grams per liter at STP; valence usually 0. detectors will be placed in areas covered by Quaternary quaternary /qua·ter·nary/ (kwah´ter-nar?e) 1. fourth in order. 2. containing four elements or groups. qua·ter·nar·y adj. 1. Consisting of four; in fours. sediments as part of this campaign. Samples are shipped to ActLabs in Lima, Peru for preparation. The prepared samples are then sent to their facilities in Ontario, Canada for assaying. Robert Fong, P.Eng., the Qualified Person on this project, has reviewed this technical information on behalf of the Company. About Vena Resources Inc. Vena Resources is dedicated to building capital appreciation and creating long term shareholder value by developing the mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature and social welfare of Peru. Vena Resources' commitment will be demonstrated by deploying its financial resources to aggressively acquire and advance high quality people and assets throughout the country. We seek Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. . Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Shares Outstanding: 45,054,895 Fully-Diluted: 57,079,210 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept the responsibility for th e adequacy or accuracy of this release. Vena Resources Inc. (TSX VENTURE:VEM) |
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