Vancouver, BC Canada, April 4, 2013 - Vela Minerals Ltd. (TSX-V:
VLA) (the "Company")is pleased to announce that crews have been
mobilized and ground work has begun on the 63 square kilometre
Mavis Bank Concession in Jamaica.
The exploration program will consist of geological mapping and
soil and rock sampling over the Epping-Whitfield, and Mavis Bank
Occurrencesin conjunction with a property wide stream
sampling-prospecting programme.
Epping-Whitfield Cu-Au-Ag Occurrences
This group of mineral occurrences covers approximately 1 X 2
kilometres (elongated north-south) and are hosted in the Upper
Cretaceous Blue Mountain and Main Ridge Group of sedimentary,
volcanic, and ultramafic rocks. Historical IP geophysics from the
Epping-Whitfield areas defined two broad >250 meter wide
high-chargeability and coincident low resistivity anomalies.
Historic soil sampling performed in the Epping-Whitfield areas
outlined 3 areas of multi-element Cu-Au-Ag-As-Co-Zn-Pb-Ba-Mn
geochemical anomalies. The 3 soil anomalies are approximately
100-200 meters wide, and are 400-800 meters long. The 2
multi-element soil anomalies in the Epping Farm area are flanked to
the east (about 50-200 meters distance) by a north-south trending
nickel-chromium in soil anomaly, and approximately 250 meters
further east, exists a lead-zinc-barium soil anomaly.
Alteration minerals present in the Epping-Whitfieldareas include
secondary chlorite, calcite, quartz, ankerite, talc, pyrolusite,
and sericite. The alteration minerals occur in variable amounts and
are associated with mineralization that includes chalcopyrite,
pyrite, pyrrhotite, bornite, chalcocite, malachite, and
chalcocite.
Mavis Bank Cu-Au-Ag-Fe-Co Occurrences
The Mavis Bank Area of mineral occurrences includes the Boxshaw
Hill-Water Tank Zone, Orchard Spring Zone, Tunbridge-Orchard Hill
Zone, and Dublin Castle Zone
The Boxshaw Hill-Water Tank Zone: includes magnetite, pyrite,
specularite, azurite, bornite, chalcopyrite, and malachite
occurring in a 400 x 800 meter area. A total of 446 meters of
diamond drilling intersected variable chalcopyrite with highlights
that include 0.61 meters at 4.31% Cu.
Orchard Spring Zone: includes magnetite, pyrite, specularite,
azurite, bornite, chalcopyrite, chalcocite, erythrite, and
malachite. A total of 203 meters of diamond drilling intersected
several massive magnetite vein/replacement zones. Cobalt minerals
and associated silver occur in limestone hosted replacement zones.
Sampling by MINEX in 1993 indicates gold values of 3 g/t with 2%
Cu, and associated silver, zinc, and cobalt.
Tunbridge-Orchard Hill Zone: includes pyrite, bornite,
chalcopyrite, chalcocite, and malachite. A total of 70 meters of
underground workings in 2 adits intersected vein/replacement zones
of copper bearing mineralization that gave an average of 0.78% Cu
over 40 meters from rock chip sampling. Sampling by MINEX in 1993
indicates gold values of 1g/t and silver in excess of 20g/t
associated with strongly anomalous copper, cobalt, and arsenic
values.
Dublin Castle Zone; includes two trenches approximately 700 feet
apart that returned 2.74 m @ 3.14% Cu, 3.04 m @ 2.46% Cu, and 3.65
m @ 4.14% Cu.
The Mavis Bank Orchard Spring area contains altered and
mineralized intrusive rocks underlying a carbonate capping which
are coincident with significant pulse-EM and residual gravity
geophysical anomalies. In addition, the proximity to the Mt. Rosana
Eocene age volcanic center (about 0.7 km to the SE) supports the
model for a satellite, deep-rooted sub-volcanic hydrothermal
system.
The proposed model for mineralization is similar to Pueblo
Viejo, Dominican Republic. Pueblo Viejo district, Dominican
Republic, show that an extensive advanced argilliclithocap and
contained giant Cretaceous to early Tertiary age high-sulfidation
epithermal gold-silver deposit were emplaced beneath a thick
limestone cover.
About Vela Minerals Ltd.
Vela Minerals Ltd. (VLA: TSX-V) is a mineral exploration company
with a business strategy to identify, acquire, and explore high
potential mineral projects ready for rapid advancement. The Mavis
Bank Project in Jamaica, which the Company has an option to earn up
to a 100% interest, fits with this strategy.
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 StricklandP.Geo"
President & Director
For further information please, visit the Company's website,
www.velaminerals.com, or contact:
Derrick Strickland, President & Director
Telephone: 604.773.0992
Email: info@velaminerals.com
Cautionary Note Regarding Forward-Looking Information
This press release contains certain forward-looking
statementswithin 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 Farm
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
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