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Venturex Resources Ltd.
Summary
| Project: | Whim Creek | |
|---|---|---|
| Deposit: | Whim Creek - Salt Creek | |
| Location: | Australia | |
| Commodities: | Copper-Zinc-Lead-Silver-Gold | |
| Date: | 10/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-10-2016: Venturex Resources Ltd. announces an Exploration/Drilling Update report for its Whim Creek - Salt Creek deposit at the Whim Creek project. Drilling results incl. 1.64m @ 43.9% Zn, 19.5% Pb, 0.8g/t Au, 550g/t Ag from 150.31m. Venturex Resources | |
| Resources: | (Reserve, Prob.): 7.28Mt @ 1.2% Cu, 3.5% Zn, 14.4g/t Ag (Open pit + Underground) | |
| CP/QP: | [Overall Report]: James Guy (Not Stated) | |
| ABSTRACT: | Venturex Resources Limited (ASX: VXR "Venturex" and the "Company") is pleased to advise that it has received outstanding high-grade assay results from recent diamond drilling targeting extensions of the Salt Creek zinc-lead deposit, part of its 100%-owned Whim Creek Zinc-Copper Project in WA. The Whim Creek Project includes the Whim Creek, Mons Cupri, Salt Creek and Evelyn zinc-lead-copper deposits, plus 18,100ha of tenements which are highly prospective for volcanogenic massive sulphide (VMS) base metal deposits. Total JORC Resources within the Whim Creek Project currently stand at 7.2Mt @ 2.3% Zn and 1.3% Cu. The Company has received assay results from three of the six recently completed diamond holes at Salt Creek. The three holes were drilled in the Eastern Lode to test for extensions of the high-grade zone of this lode. Assays are awaited for the remaining three holes. Exceptional zinc, lead and silver grades were returned from zones of massive sphalerite and galena sulphide mineralisation intersected in two of the holes. The results demonstrate the outstanding grade and tenor of the mineralisation in the upper part of the Eastern Lode at Salt Creek. Venturex’s Managing Director, John Nitschke, said the initial drilling at Salt Creek had reinforced the outstanding grade and tenor of the mineralisation in the upper part of the East Lode. “Hole VSCD003 has extended the massive sulphide mineralisation to within 65m of the surface, while VSCD001 has filled in an important gap in the historical drilling,” he said. “The next step for us is to evaluate the opportunities to expand the deposit at depth – which is where, from our recent work, we believe the real potential lies. “We are currently re-logging a number of key core holes from the Salt Creek deposit to develop an improved structural model for the controls on the mineralisation. This will be used to further refine the deep geophysical targets identified at depth by down-hole magneto metric (MMR) surveys, as outlined in our recent ASX Release of 10 October. “These MMR conductor plates represent potential targets for extensions of the Salt Creek deposit at depth and we are very much looking forward to testing these targets when drilling resumes in November,” he added. | |
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