VANCOUVER, BC CANADA / ACCESSWIRE / April 28, 2014 / Vela
Minerals Ltd. (TSX-V: VLA) (the "Company") is pleased to announce
that crews have completed ground work on the Mavis Bank and Port
Antonio Special Exclusive Prospecting Licenses located in Jamaica,
West Indies.
Orchard Spring Area:
Follow-up rock and soil sampling was performed in a newly
discovered zone located in the south-central portion of the Orchard
Spring area. The new (2014) area is located 20 meters south of a
2013 rock sample site and returned values of 183 ppb Au, 9.48 ppm
Ag, and 4.57% Cu (#164859). A second area of discovery located
approximately 400 meters to the southeast returned values of 8.0%
Cu, 15.2 ppm Ag, 16 ppb Au, and 27800 ppm As (#164861).
A total of 12 rock chip samples were taken in the Orchard Spring
Area:
--------------------------------------------
|Sample ID|Au ppb|Ag ppm|Cu ppm|Cu %|Co ppm|
|------------------------------------------|
|164851 |7 |0.3 |3650 |0.37|30.7 |
|------------------------------------------|
|164852 |22 |0.19 |1670 |0.17|35.2 |
|------------------------------------------|
|164853 |11 |0.14 |155 |0.02|18.5 |
|------------------------------------------|
|164854 |7 |0.07 |491 |0.05|20.4 |
|------------------------------------------|
|164855 |8 |0.13 |534 |0.05|18.1 |
|------------------------------------------|
|164856 |26 |0.18 |9080 |0.91|6.7 |
|------------------------------------------|
|164857 |<1 |0.06 |3460 |0.35|4.8 |
|------------------------------------------|
|164858 |6 |0.06 |4180 |0.32|10.5 |
|------------------------------------------|
|164859 |183 |9.48 |>10000|4.57|547 |
|------------------------------------------|
|164860 |12 |0.45 |6650 |0.67|398 |
|------------------------------------------|
|164861 |16 |15.2 |>10000|8.0 |4400 |
|------------------------------------------|
|164862 |11 |0.51 |5340 |0.53|65.9 |
--------------------------------------------
The Orchard Spring mineral occurrences are hosted in Eocene
Halberstadt Formation limestone, Wagwater Trough clastic
sedimentary rocks (shale, sandstone, & conglomerate), and
volcanic rocks (andesite, dacite tuffs/flows). Alteration minerals
found within and surrounding the microgranodiorite intrusive rocks
include quartz-calcite-sericite-chlorite. Intrusion related
mineralization consists of pyrite, chalcopyrite, chalcocite,
bornite, azurite & malachite, with minor amounts of cobaltite
and erythrite.
Textures found at Orchard Spring display
quartz-carbonate-sulphide-oxide bearing mineral zones cutting
massive magnetite, suggesting there is low temperature of
formation, late stage infiltration, and fracture filling of
Cu-Ag-Au bearing mineralization as vein, replacement, and/or
breccia deposits.
Essex-Bloxshaw Area:
This zone is located 100-600 meters northwest of Orchard Spring
and linked by a major north trending fault structure that is
visible as a regional air-photo lineament. Sample 164865 was taken
in this area and returned values of 4 ppb Au, and 1920 ppm Cu.
Epping Area:
Exposed bedrock was sampled in the south-central portion of the
2013 soil grid at a site that returned values of 2010 ppm Cu and 11
ppb Au. This area is underlain by Cretaceous age Main Ridge Group
volcaniclastic lithologies that feature widespread phyllic
alteration and variable chalcopyrite, chalcocite, and bornite.
Anomalous gold and copper anomalies were returned from 2 sample
sites.
---------------------------------------------------
|Sample ID|Au ppb|Ag ppm|Cu ppm|Cu %|As ppm|Co ppm|
|-------------------------------------------------|
|164863 |24 |0.28 |492 |0.05|20.6 |15 |
|-------------------------------------------------|
|164864 |<1 |0.07 |49.2 |0.01|22 |13.1 |
---------------------------------------------------
Mount Rosana is a 300 meter diameter clay-altered volcanic
center, producing a distinctive upstanding landform, located
approximately 750 meters southeast of Orchard Spring. The close
proximity to the Mount Rosana volcanic center suggests that the
extensive faulting and folding (anticline/syncline structures) as
well as silicate, carbonate, and oxide alteration minerals common
in the surface area may represent an epithermal intrusive system at
depth.
Port Antonio:
Two rock samples were taken in the central and south margin of
the Bellevue leached lithocap. Both rock samples exhibit strong
silicification (8-30% quartz as veining and breccia), & contain
spongy, porous, and cellular texture limonite and hematite. Despite
strong leaching, geochemical analysis of rock sample 164866
indicates above average Au & Ba values, and sample 164867
contains elevated Ag, As, Ba, &Te values:
-----------------------------------------------------
|Sample ID|Au ppb|Ag ppm|Cu ppm|As ppm|Te ppm|Ba ppm|
|---------------------------------------------------|
|164866 |206 |0.16 |13.4 |6.2 |0.09 |4150 |
|---------------------------------------------------|
|164867 |11 |1.4 |24.5 |43.7 |8.71 |2620 |
-----------------------------------------------------
Sample 164866 returned 206 ppb Au and was taken from an area of
increased silicification as well as a chargeability high exhibited
by historical IP geophysical surveys.
A total of 26 geology stations within the 1.5 X 1.5 kilometer
area of the leached lithocap were mapped and sampled in order to
identify lithology, minerals, alteration, and textures.
The Bellevue area is underlain by andesitic-dacitic volcanic
rocks (porphyritic and fine grain tuffs/flows) which are cut by
occasional 2-5 meter wide Cretaceous granodiorite-diorite intrusive
dykes/sills. The Bellevue lithocap is characterized by widespread
argillic alteration and strong bleaching of country rock
accompanied by 2-8% limonite (goethite & jarosite), hematite,
chlorite, sericite, zeolite, and kaolinite as disseminations and
fracture fillings.
Samples were shipped directly from Kingston, Jamaica to AGAT
Laboratories in Mississauga, Ontario for 32 element ICP & Au
geochemical analysis.
Technical information in this news release has been reviewed by
Derrick Strickland P.Geo., a qualified person as defined in NI
43-101.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Derrick Strickland P.Geo"
President
For further information please contact:
Telephone: 604.773.0992
Email: info@velaminerals.com
Suite 910 - 475 Howe Street, Vancouver, BC V6C 2B3, Tel
604.773.0992; www.velaminerals.com
Cautionary Note Regarding Forward-Looking Information
This press release contains certain forward-looking statements
within the meaning of the Canadian securities laws, which are based
on the opinions and estimates of management at the date the
statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected. Forward-looking
information in this press release includes statements about the
potential existence and size of mineralization at the Epping and
Mavis Bank areas, geological interpretations and potential mineral
recovery processes. Information concerning mineral reserve and
resource estimates also may be deemed to be forward-looking
information in that it reflects a prediction of the mineralization
that would be encountered if a mineral deposit were developed and
mined.
In connection with the forward-looking information contained in
this news release, the Company has made numerous assumptions,
regarding, among other things: the geological, metallurgical,
engineering, financial and economic advice that the Company has
received is reliable, and is based upon practices and methodologies
which are consistent with industry standards. While the Company
considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could
cause the Company's actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information contained herein. Known risk factors include, among
others: the actual mineralization may not be as favorable as
suggested, or at all; uncertainties relating to interpretation of
drill results and the geology, continuity and grade of mineral
deposits; and uncertainty as to timely availability of permits and
other governmental approvals.
Vela undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change. The reader is cautioned not to place undue reliance
on forward-looking statements.
SOURCE: Vela Minerals Ltd.
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