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Vendome shares up on high-grade sampling results from San Javier mine

Last updated: 13:26 24 Jan 2012 EST, First published: 14:26 24 Jan 2012 EST

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Vendome Resources Corp. (CVE:VDR) unveiled Tuesday additional high grade chip and channel samples from its San Javier mine property in the state of Guerrero, Mexico.

Investors praised the news, with shares rising 10.5 percent to 21 cents as of 1:58pm ET.

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.

Individual sample results included 8,060 grams per tonne (g/t) silver and 4.55% lead over 0.15 metres in JP008A and in JP001B, 146 g/t silver and 1.69% lead over 0.45 metres.

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 reconnaissance field trip in August 2010, a qualified person collected chip and grab samples from several veins identified on the property.

Sample analyses returned values up to 15,042 g/t silver, 3.19% zinc, and 3.41% lead.

These samples were analyzed at SGS Laboratories in Durango, Mexico using fire assay, the company said.

Vendome has the option to acquire a 50 percent interest in the San Javier Mine property by making total cash payments of $325,000, issuing 3.0 million common shares over a two year period, and investing $3.0 million in exploration over a three year period.

The company said it believes that the stockwork vein system observed on the San Javier Mine is similar to rift related epithermal low sulphidation systems that are host to several world class silver mines in Mexico.

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