Ventana Gold Corp VEN:CA announced assays from the Aserradero zone at its La Bodega Gold Project in Columbia. Assay highlights include 6.79 g/t over 4 metres, 2.16 g/t over 10 metres, 23.18 g/t over 5 metres (including 74.5 g/t over 1.5 metres), 10.19 g/t over 25.9 metres, 5.18 g/t over 20 metres and 20.35 g/t over 9 metres (including 79.55 g/t over 2 metres).
Ventana also announced a non-brokered private placement of 6.5 million special warrants at $10 per for total proceeds of $65 million. The private placement has been fully subscribed by Eike Batista’s 63X Master Fund and JMB Capital Partners of Los Angeles. The proceeds will be used for completion of the final feasibility study for its La Bodega project, further exploration drilling, debt repayment and for general administrative purposes.
President/CEO Steve Orr commented, “We are extremely pleased to complete this financing at such favourable terms without the payment of any agency fees. The company has now secured sufficient proceeds to fund its exploration, engineering and development work on the La Bodega project through feasibility.”
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VP Investor Relations,
by Ted Niles