TORONTO (miningweekly.com) – Shares in TSX-listed Ventana Gold jumped 32,5% on Monday, after the company published more high-grade drill results from its flagship gold project, in Colombia.

Drill hole 143, drilled at the La Mascota zone at Ventana's La Bodega project, was drilled at an angle of 88 degrees and intercepted 84 m, averaging 13,66 g/t of gold, starting at a depth of 239 m.

When adjusted for true width, the intercept is about 42 m wide and represents the highest-value true width intercept to date, the firm reported.

"Hole 143 is one of the most significant drill intercepts to date and confirms the continuity of mineralization within the La Mascota zone,” Ventana CEO Steve Orr said in a statement.

The results from hole 143, when viewed with other holes in the immediate vicinity, indicate that the southwestern portion of the structure is proving to be “the most strongly mineralised area” in terms of grade and thickness, Orr said.

Ventana has now drilled up to hole 151 and assays are pending on 18 holes.

The company announced last week it had begun a scoping study focusing on the La Mascota zone at the La Bodega project.

The study is scheduled for completion in the third quarter of 2010.

Ventana shares gained C$2,09 apiece on Monday, to C$8,52 by 16:00 in Toronto.

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