Arena Minerals Provides Pampas El PeÑon Project Exploration Update
TORONTO, ONTARIO--(Marketwired - Feb 20, 2014) - Arena Minerals
Inc. ("Arena" or the "Company") (TSX-VENTURE:AN) is pleased to
announce results of its initial exploration program on the Pampas
El Peñon claim package ("PEP" or "Property"), located in the
Antofagasta region of Chile. The exploration program covered the
majority of the ground within the Property, consisting of 19,200
hectares. Detailed ground work, including prospecting and mapping,
has been completed on selected target areas. Three distinct areas
with prospective epithermal gold-silver vein systems and two areas
with significant copper-gold porphyry signatures have been
discovered to date.
A map of the Property showing the target areas can be found
here, and below are
more detailed descriptions of these targets.
Augusta Victoria West ("AV West"): The AV West block is located
immediately west of Yamana's Pampa Augusta Victoria operating open
pit, which is part of the El Peñon mine complex. Several
north-south trending epithermal veins have been identified on
surface and are being followed up with additional ground work. The
first high priority target contains highly anomalous Ag, As and Sb
values within epithermal siliceous structures that have not been
drill tested by previous operators. The target is believed to be
associated with the Pampa Augusta Victoria vein system, contained
within a rhyolite dome that lies immediately west of the property
boundary with Yamana and only a few hundred meters from the Augusta
Victoria open pit. Two other similar rhyolite dome targets with
highly anomalous As and/or Sb values were located further west of
this zone. Structures cutting rhyolite domes commonly host economic
Ag-Au values at depth in the El Peñon mine and are considered prime
exploration targets in the El Peñon gold district. Anomalous
surface values in this target area for Ag range from 0.5 to 210
g/t; As from 7 to 911 ppm; and Sb ranges from 0.5 to 179 ppm.
The Augusta Victoria North ("AV North") block covers the
northern extension of Yamana's Pampa Augusta Victoria north south
trending veins. The target area is under groundcover, with zones of
epithermal quartz fragments on surface along trend. Further work
will concentrate on identifying the locations of these veins prior
to defining drill targets.
Pan de Azucar ("PAZ"): On the PAZ claim block two new gold
bearing quartz vein/breccias with no evidence of previous work were
located only a few hundred meters south of the known Pan de Azucar
vein. The previously recognized vein is known to be over 10 metres
in width at certain areas with a mapped strike length of over 500
metres, before disappearing under ground cover. The newly
discovered structures form part of a large stock work with a
surface sample grade range between 0.5g/t and 1.5g/t Au. The vein
system has been confirmed on surface for over 500 metres along
strike before going under cover.
A new porphyry copper target has been discovered on Pan de Cobre
("PAC"), located west of El Peñon mine and approximately 48 km west
of Escondida mine. The surface expression of the target area of
interest covers 4 square kilometres. It is flanked by a zone of
copper oxide bearing outcrops in cross cutting veins and
disseminated within altered andesites. Individual mineralized
outcrops typically are 50 by 100 metres in area. The mineralized
outcrop areas are sparse due to overburden cover over most of the
project area. An extensive silica cap occurs to the west and an
extensive area of propylitic alteration to the east. Prospecting in
the area has returned 10 grab samples with values ranging from 0.1%
Cu to greater than 1.0% Cu (2 re-assays pending) from 25 outcrop
and sub-crop sites. Airborne magnetic surveys covering the area
show a positive magnetic anomaly coinciding with the target area.
The Company considers this target as a high priority copper
porphyry prospect and will be prepared for drill testing.
Pampa Norte ("Pampa Norte"): A second copper target very similar
to the Pan de Cobre zone was located on the Pampa Norte block.
Float and outcropping structures within altered andesitic volcanics
were found in an area of low relief mostly covered area of 2.0 km
by 5.0 km. A total of 24 grab samples returned values from 0.1% to
0.8% Cu.
Both Pan de Cobre and Pampa Norte are considered buried porphyry
targets.
Vern Arseneau, Vice President of Exploration for Arena Minerals,
commented, "We are extremely pleased with the early stage results
from the Pampas El Peñon claim package, as we have found
prospective areas for both Au-Ag epithermal veins and copper
porphyry mineralization. Both these target types are attractive to
us, as the claims are in proximity to both Yamana's El Peñon mine
and BHP Billiton's Escondida mine. We have completed significant
ground work on these target areas and are currently preparing them
to be drill ready over the next few months."
The Company continues to advance its Pampas El Peñon property,
and has crews on the ground working on the targets described above
as well as developing new targets within the claim package. Further
results will be announced as they become available. In addition to
results from the Pampas El Peñon property, results of the ongoing
exploration program on the Company's 2,900 square kilometer Atacama
Copper Property will also be released as they become available.
To view the website, please visit www.arenaminerals.com.
In addition to featuring information regarding the Company, it's
managements and projects, the website also contains the latest
corporate news and an email sign up where news and updates can be
received directly.
About Arena Minerals
Currently Arena Minerals has three properties under option
covering approximately 326,000 hectares. All the properties are
within the Antofagasta region of Chile, at low altitudes and within
producing mining camps. The Company flagship asset is the Atacama
Copper Property, consisting of 293,000 hectares of essentially
undrilled ground in the heart of Chile's premier copper mining
district. The Atacama Copper Property is adjacent to the
Capricornio Property, forming part of a contiguous land package
that can be worked in conjunction. In addition the Company also has
the Pampas El Peñon project which is less than 1 km from Yamana's
Agusta Victoria project and 10 km from the El Peñon mine. The
Capricornio property hosts a district scale gold silver epithermal
system virtually unexplored at depth and open on strike. The Pampas
El Peñon and Capricornio properties comprise Arena Minerals highly
prospective gold properties within an active mining region.
The technical and scientific aspects of this news release have
been reviewed and approved by Mr. Vernon Arseneau, P.Geo, who has
been designated as a qualified person pursuant to NI 43-101. As the
Vice President of Exploration of the Company, Mr. Arseneau is not
considered independent.
On behalf of the Board of Directors of
Arena Minerals Inc.
William Randall, President, and CEO
Cautionary Note Regarding Accuracy and Forward-Looking
Information:
This news release may contain forward-looking information
within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements, projections and estimates relating to the future
development of any of the Company's properties, the results of the
exploration program, future financial or operating performance of
the Company, its subsidiaries and its projects, the development of
and the anticipated timing with respect to the Atacama project, the
Capricornio project, and the El Peñon project, and the Company's
ability to obtain financing. Generally, forward-looking information
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". The statements made herein are based on current
expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of
factors discussed in the management discussion and analysis section
of the Company's interim and most recent annual financial statement
or other reports and filings with the TSX Venture Exchange and
applicable Canadian securities regulations. Estimates underlying
the results set out in this news release arise from work conducted
by the previous owners and the Company. Forward-looking information
is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the
actual results of current exploration activities; other risks of
the mining industry and the risks described in the annual
information form of the Company. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward looking informationArena Minerals does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Neither 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.
Arena Minerals Inc.William Randall(416)
309-2697www.arenaminerals.com
Arena Minerals (TSXV:AN)
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