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Venerable Ventures Ltd. Hits 0.33 g/t Gold Over 47.8 Metres at Trout

Mar 26 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/26/13 -- Venerable Ventures Ltd. (TSX VENTURE: VLV) ("Venerable" or the "Company") is pleased to provide an update for its exploration activities on the Trout Property. Four of the seven target areas previously identified by the Company known as the Cap, Camp, Camp (North) and Discovery zones were tested with eight trenches and ten drill holes during 2012.

Highlights of results include drill hole TR12-05 assaying 0.33 g/t gold over 47.8 metres from the Camp Zone and drill hole TR12-09 assaying 0.44 g/t gold over 16.0 metres from the Camp (North) Zone located 425 metres northeast. These results combined with other untested geochemical and geophysical anomalies outline significant zones of gold enrichment in areas that have seen little or no previous work. Further work is anticipated by the Company.

Gold is associated with a graben bounding fault structure. Structures such as these are well documented for hosting both bulk and high-grade bonanza style gold and silver deposition.

In July Venerable trenched a total of 206 metres across eight profiles in the Camp and Camp (North) areas. Rock chip samples with gold were hosted in predominantly brecciated and vuggy zones of silicified porphyritic volcanic rock. Significant results from the Camp Zone include 21.1 metres grading 0.41 g/t gold in trench TR-B and 16.0 metres grading 0.13 g/t gold in trench TR-E. At the Camp (North) Zone limited bedrock exposure from trenching was only able to isolate a single 2 metre outcrop that assayed 2.13 g/t gold.

The diamond drill program took part from September to October, 2012. Ten holes were drilled into four target areas within the boundaries of the graben feature for a total of 2019 metres.

----------------------------------------------------------------------------HOLE-ID FROM m TO m LENGTH m AU_PPM AG_PPM Zone----------------------------------------------------------------------------TR12-01 Lost at 53m Cap----------------------------------------------------------------------------TR12-1A No significant results Cap----------------------------------------------------------------------------TR12-02 No significant results Cap----------------------------------------------------------------------------TR12-03 No significant results Cap----------------------------------------------------------------------------TR12-04 Overburden Hole lost Cap----------------------------------------------------------------------------TR12-05 36.00 54.00 18.00 0.09 0.8 Camp----------------------------------------------------------------------------TR12-05 74.00 121.82 47.82 0.33 1.8 Camp----------------------------------------------------------------------------TR12-06 15.00 23.00 8.00 0.11 2.0 Camp----------------------------------------------------------------------------TR12-06 43.00 49.00 6.00 0.14 0.9 Camp----------------------------------------------------------------------------TR12-06 81.00 85.70 4.70 0.22 2.3 Camp----------------------------------------------------------------------------TR12-07 no samples taken Camp----------------------------------------------------------------------------TR12-08 12.26 40.00 27.74 0.24 1.2 Camp (North)----------------------------------------------------------------------------TR12-09 18.29 27.34 9.05 0.20 1.0 Camp (North)----------------------------------------------------------------------------TR12-09 42.00 58.00 16.00 0.44 2.4 Camp (North)----------------------------------------------------------------------------TR12-09 78.00 100.00 22.00 0.10 1.2 Camp (North)----------------------------------------------------------------------------TR12-10 18.29 84.00 65.71 0.17 2.2 Discovery----------------------------------------------------------------------------



All samples were delivered by truck to ALS Geochemistry in North Vancouver, BC, where each complete sample was crushed to 70% material less than 2mm in diameter. A 1kg split was then pulverized to better than 85% passing 75 microns (approx. 200 mesh). A 1.0 gram portion of the pulp was then digested in hot aqua regia and analyzed for 34 elements by ICP-AES method. All samples were also analyzed specifically for gold by fire assay and ICP-AES with a 30g nominal weight.

At the Cap Zone, holes TR12-01A thru TR12-03 tested a 300 metre by 300 metre IP chargeability and resistivity anomaly occurring at depths between 150 and 225 metres below surface. The holes intersected up to 125 metres of partially silicified pyrite rich quartz feldspar porphyry intrusive, likely representing the cause of the IP anomaly. The unit intrudes rhyodacite, trachyte and minor andesite and conglomeratic formations. Although gold was not found in the drill core this intrusive activity could be key in generating surrounding epithermal overprints within the Trout graben.

Holes TR12-05 thru TR12-10 show that gold mineralization at the Camp, Camp (North) and Discovery zones occurs predominantly in altered volcanic rocks predominately rhyodacitic to trachytic in composition. The best exploration potential in this area lies within the Camp (North) Zone where holes TR12-08 and 09 intercepted wide zones of gold mineralization associated with quartz healed porphyritic trachyte breccia unit. The zone outcrops immediately below thin overburden, measures 300 metres by 200 metres in diameter and varies in thicknesses from 16 to 27 metres. It has a moderate resistivity IP signature and remains open in three directions.

Besides additional drill testing on the Camp (North) and the Cap Zones during the 2013 field season, including follow-up studies on Targets 5, 6 and 7 the Company plans to widen its exploration efforts to cover other prospective areas on the property that have received little or no previous work.

Technical information in this news release has been reviewed and approved by Jim Cuttle P.Geo a Qualified Person as defined in NI 43-101. For more information see the Company's technical report entitled "Technical Report: Trout Property" dated March 23, 2011, available on SEDAR at www.sedar.com.

About the Company

Venerable Ventures is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focus on the Trout Property. The Trout Property is 65km southwest of Vanderhoof, BC on the Nechako Plateau and covers an area of 7179 Hectares. The property is approximately 40km NNE of NewGold'sBlackwater Project.

ON BEHALF OF THE BOARD

VENERABLE VENTURES LTD.

Ryan Sharp, President, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Venerable Ventures Ltd.
Ryan Sharp
President and CEO
(604) 647-0146
(604) 647-0143 (FAX)
ryan@venerableventuresltd.com
www.venerableventuresltd.com





Source: Marketwire


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