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DEVELOP GLOBAL LIMITED — Capital/Financing Update 2009
Aug 23, 2009
64801_rns_2009-08-23_f51b95fd-b07f-43fe-af56-63f2dc6027c2.pdf
Capital/Financing Update
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ASX Announcement Code: VXR
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24 August 2009
Further Massive Sulphide Intersections at Liberty-Indee
Venturex is pleased to advise that the current phase of RC drilling at the Evelyn Prospect, Liberty-Indee, has intersected massive sulphide mineralisation at a depth of approximately 200 metres below surface. Hole number JER 56 intersected 5 metres of massive sulphide with visible chalcopyrite from 231 meters, followed by a further 2.5 metres of disseminated mineralisation. The total true width of the mineralised zone is estimated to be about 5 metres.
This is the deepest massive sulphide mineralisation intersected to date at Liberty-Indee, indicating that high grade copper-zinc-gold-silver lenses may have considerable vertical and lateral extent.
For further details:
Dr Tim Sugden Managing Director T: +61 8 6389 7403 M: +61 407 085 032
Board
Allan Trench Non-Executive Chairman
Tim Sugden Managing Director Michael Mulroney Non-Executive Director
Anthony Reilly Executive Director
Liza Carpene Company Secretary
Contact Details
Registered Office: Suite 3, Level 1 127 Cambridge Street West Leedervile WA 6007 T: +61 8 6389 7400 F: +61 8 9463 7836
On-going drilling will continue to test depth extensions of the Evelyn Prospect, as well as untested gossans to the north and south of Evelyn, VTEM anomalies and the Quarmby copper workings.
Venturex’s Pilbara strategy is to establish a high grade base metal resource at Liberty-Indee to supplement proposed copper-zinc-silver production from the Whim Creek and Salt Creek Projects (refer to acquisition announcement of 20 August 2009).
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ABN: 28 122 180 205
TIM SUGDEN Managing Director