Vendetta Stakes Additional Ground and Commences Phase 1 Exploration
March 16 2011 - 11:09AM
Marketwired
Vendetta Mining Corp. (TSX VENTURE: VTT) ("Vendetta" or the
"Company") a Vancouver based mineral exploration company, announces
that it has staked two new mineral claims that cover potential
extensions of known mineralization in the southeastern part of the
Company's Honeymoon East property located in southern British
Columbia.
The Honeymoon East property is an early stage exploration
project that has potential for poly-metallic VMS type deposits and
for structurally controlled vein type gold mineralization. The most
advanced target on the property is a geochemical anomaly referred
to as the Joseph Prospect identified by Esso Minerals in the early
1980's. Esso drilled two shallow holes in 1984 and intersected a
9.2m wide interval that assayed 2.39% lead, 1.05% zinc, 30.9 g/t
silver and 1.27% barium (BCMEM Minfile records, 1984). A NI 43-101
compliant report on the property (entitled "Review of Technical
Information and Proposed Exploration Program for the Honeymoon East
Property" prepared by Carl A. Von Einsiedel, P.Geo and dated July
20, 2010) noted that the geochemical anomaly that defines the
Joseph Prospect is more extensive than reported by Esso and that
potential extensions of this zone to the north were covered by
mineral tenures owned by unrelated third parties. A copy of this
report can be accessed under the Company's profile on SEDAR
(www.sedar.com).
The new claims acquired by Vendetta comprise 241.2 hectares that
cover the potential north extensions of the Joseph target. The new
claim area is overburden covered however a review of BC Ministry of
Mines assessment reports for the new claims indicates that a
previous operator (Spokane Resources Ltd.) completed trenching and
till geochemical sampling in 2001. Based on the results of the 2001
program the previous owners concluded that the claims cover
potential extensions of the Joseph Prospect.
The main objective of the proposed Stage 1 exploration program
for the Honeymoon East property is to determine if additional VMS
type mineralization occurs along the extensions of the airborne EM
conductors that are associated with the Joseph Prospect in the
eastern part of the property. Based on the new claim acquisition
the Company has amended the proposed Stage 1 exploration program to
include geochemical sampling on the newly acquired claims.
Preliminary work on the property will involve reconnaissance
scale geochemical surveys along the N-NNW trending airborne EM
conductors in the eastern part of the property. A total of 500 to
600 widely spaced samples will be collected along 200 to 400 meter
spaced profile lines over a strike length of roughly five
kilometers across the Honeymoon East property, including the newly
acquired claims. The target area is overburden covered and
geochemical surveys should determine if additional mineralized
zones are present along the projected extension of the rock units
that host the Joseph Prospect. The estimated cost of the
geochemical surveys including the proposed work on the new claims
is approximately $100,000 which forms part of the Phase 1
exploration program as set out in the abovementioned technical
report. If warranted, follow up trenching will be completed later
in the field season.
The Company has authorized its consultants to complete as much
of the reconnaissance surveys as is practical under current
conditions. Results will be announced as they become available.
Carl von Einsiedel, P.Geo, is the qualified person who has, on
behalf of the Company, reviewed the geologic information summarized
in this news release.
ON BEHALF OF THE BOARD
Michael Williams, President, CEO, Secretary and Director
This press release includes "forward-looking statements"
including forecasts, estimates, expectations and objectives for
future operations that are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
Vendetta Mining Corp. Statements regarding mineral exploration
operations and objectives are subject to risk, including, but are
not limited to, exploration and geologic risk, inflation and costs
of goods and services, property title issues and regulatory
approvals. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or
developments may differ materially from those projected in the
forward-looking statements. Such forward-looking information
represents management's best judgment based on information
currently available. No forward-looking statement can be guaranteed
and actual future results may vary materially. Vendetta Mining
Corp. does not assume the obligation to update any forward-looking
statement, except as required by applicable law.
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: Vendetta Mining Corp. Michael Williams President, CEO,
Secretary and Director (604) 638-8067 (604) 648-8105 (FAX)
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