Ventana Provides Update on Transfer of Mineral Title for La Bodega and La Baja Properties
Friday, July 16th, 2010
Ventana Gold Corp. (TSX: VEN) is pleased to provide an update on its previously announced acquisition of the La Bodega and La Baja mineral rights. The Company has been notified by INGEOMINAS – the Colombian Institute of Geology and Mining – that transfer of title for the La Bodega and La Baja mineral rights has been completed. The Company is now completing the balance of documents required for the transaction to close.
Ventana President and CEO Steve Orr said: “The transfer of the mineral rights titles is the most significant milestone in the completion of our acquisition of the La Bodega and La Baja properties. The balance of the process is administrative in nature and we look forward to closing.”
La Baja comprises 16.5 hectares between the La Bodega and El Cuatro properties and contains an operating mine and processing plant. The property is strategically located on strike with the La Mascota zone. Completion of the acquisition will provide Ventana with contiguous mineral rights tenements for a distance of 2.1 kilometres and consolidate the Company’s land position to 4,590 hectares in the California-Vetas district. Historic workings on the La Baja property indicate that multiple mineralized zones may be present. Recent drill results indicate that La Mascota mineralization extends across the northern portion of the La Baja property. In addition, it is apparent that the recently discovered Las Mercedes parallel zone may trend through the center of La Baja.