TORONTO, ONTARIO, Jan 24, 2012 (MARKETWIRE via COMTEX) — Vendome Resources Corp. (frankfurt:9VR) (“Vendome” or the “Company”) is pleased to announce additional high grade chip and channel samples from its San Javier Mine property (the “Property”) located within the municipality of Malinaltepec, State of Guerrero, Mexico.
In December 2010, a qualified person associated with the previous Optionor of the San Javier Mine collected channel samples with a rock saw from exposed quartz veins within the principal mine area of the Property. Samples were cut across the exposed vein perpendicular to strike, and were shipped in sealed bags directly to ALS Chemex De Mexico in Guadalajara, Mexico. Samples were analyzed for multi-elements using aqua regia digestion and both ICP-MS and ICP-AES finish techniques. Hi-lights of the channel sample analyses are provided in the Table.
San Javier Property December 2010 Channel Sampling Results
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Sample Width Ag Lead
# (m) (g/tonne) (%)
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JP001B 0.45 146 1.69
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JP001C 0.3 92.7 2.25
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JP008A 0.15 8060 4.55
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JP008B 0.4 4560 5.13
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JP016 0.16 122 3.75
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JP022 0.15 1330 0.97
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JP023 0.2 4920 1.45
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JP024A 0.1 4350 1.03
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JP024B 0.25 1770 1.01
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JP024C 0.18 609 0.55
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JP025 0.5 378 0.74
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JP026A 0.12 352 0.36
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JP026B 0.1 547 0.34
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JP027B 0.1 1140 0.39
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JP028 0.35 645 0.54
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JP030A 0.15 2210 1.78
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JP30B 0.25 1590 1.42
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JP070 0.2 327 0.57
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JP071A 0.3 328 0.85
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JP071B 0.25 1290 0.74
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JP072 0.1 4260 1.27
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JP073 0.15 997 0.53
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The Property is 253 hectares in size and is located within the Sierra Madre del Sur precious metal belt of south-western Mexico. During a Vendome staff reconnaissance field trip in August 2010 a qualified person collected chip/grab samples from several veins identified on the Property. These samples were analyzed at SGS Laboratories in Durango, Mexico using fire assay with AAS finish, and ICP-OES finish after aqua regia digestion. Sample analyses returned values up to 15,042 g/tonne silver, 3.19% zinc, and 3.41% lead. The Company has the option to acquire a 50% interest in the San Javier Mine property by making aggregate cash payments of $325,000, issuing 3,000,000 common shares over a two year period, and incurring $3,000,000 in exploration expenditures over a three year period.
Mineralization observed in the quartz veins consisted of pyrite, chalcopyrite, argentite, galena, sphalerite, and arsenopyrite. Kaolinization and sericitization of the wall rocks hosting the veins was also noted. Vendome management believes that the stockwork vein system observed on the San Javier Mine property is similar to rift related epithermal low sulphidation systems that are host to several world class silver mines in Mexico.
Warren Hawkins, P.Eng, a “Qualified Person”, within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Hawkins is not considered to be “independent” of the Corporation (as defined in National Instrument 43-101), as he currently holds securities of the Corporation.
This news release contains certain “forward-looking statements”. All statements, other than statements of historical fact that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future are forward looking statements. These forward-looking statements reflect the current expectations or beliefs of the Corporation based on information currently available to the Corporation. Such forward-looking statements include, among other things, statements relating to the Corporation’s entry into an agreement in respect of the right to earn a 50% undivided interest in the Property and the proposed terms thereof. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Corporation. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure to acquire an interest in the Property, or the right to earn an interest in the Property, on the terms currently proposed or at all; the failure to obtain any required regulatory or stock exchange approvals and other factors. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Corporation believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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.
Contacts:
Vendome Resources Corp.
Franz Kozich
CEO
(416) 708 6871 or (647) 932 1604
[email protected]www.vendomeresourcescorp.com
