Venerable Ventures Ltd. Receives Results from Summer Exploration Program and Confirms A Geochemical Anomaly Over A Strike Length of 600 Metres
VANCOUVER, Oct 15, 2014 - Venerable Ventures Ltd. ("Venerable" or the "Company") (TSX VENTURE:VLV) is pleased to announce that it has received geochemical sample results from its summer exploration program. The work focused on the additional claims acquired pursuant to the option agreement extension dated May 19, 2014. In August, the Company inspected eight areas containing historical gold and multi-element till geochemical anomalies using soil geochemistry, geological mapping and prospecting. Results confirm at least three of these areas contain significant precious metal anomalies.
A 600 metre long gold, silver, arsenic soil anomaly (Area 8) has been identified 3.5 kilometres southwest of the original Trout 'Discovery' zone. This northeast trending geochemical anomaly occurs along a till covered slope associated with airborne resistivity high and magnetic low signatures. It lies within the boundaries of what is interpreted to be the continuation of the Trout graben and is considered a priority target for future follow-up work.
Two additional areas (Area 3 and 4) in the western part of the property have less pronounced but similar geophysical responses and contain significant 'single line' precious metal and base metal geochemical anomalies. They will require further soil testing and prospecting.
The Company has acquired data from a previous airborne electro-magnetic and resistivity survey covering the expanded property boundaries. This new data, combined with the current geological information will serve as an important guide for further work by improving interpretations and locations of underlying bedrock, fault structures and potential alteration zones.
Mineralization at the main Discovery Zone on the Property is a low-sulphidation gold-silver epithermal system hosted by silica-adularia altered breccias in polymictic conglomerate and rhyodacite. At the main Discovery Zone, several new drill targets remain top priority for testing.
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 Ltd. 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 65 km southwest of Vanderhoof, B.C. on the Nechako Plateau and covers an area of 9,631 hectares. The Property is approximately 40 km NNE of NewGold's Blackwater Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF VENERABLE VENTURES LTD.
Ryan Sharp
President and CEO
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future including, without limitation: (1) limited operating history, (2) exploration, development and operating risks, (3) regulatory risks, (4) substantial capital requirements and liquidity, (5) competition, (6) reliance on management and dependence on key personnel, (7) fluctuating mineral prices and marketability of minerals, (8) title to properties, (9) local resident concerns, (10) no mineral reserves or mineral resources, (11) environmental risks, (12) governmental regulations and processing licenses and permits, (13) conflicts of interest of management, (14) uninsurable risks, (15) exposure to potential litigation, (16) dividends, (17) and other factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Venerable will obtain from them.
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.
Contact
Venerable Ventures Ltd.
Ryan Sharp, President and CEO
(604) 647-0146
