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DEVELOP GLOBAL LIMITED — Regulatory Filings 2011
Jul 19, 2011
64801_rns_2011-07-19_625acc75-d010-4f47-9c1f-672e4851824e.pdf
Regulatory Filings
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BFS DRILLING REVEALS HIGHER GRADE COPPER AT MONS CUPRI
ASX Announcement ASX Code: VXR Released: 20 July 2011
HIGHLIGHTS
Excellent Drill Result Extends Mons Cupri Copper Zone
Resource Tonnes and Grade to Increase
Venturex Resources Limited (ASX Code: VXR) (“Venturex”) has received assay results for diamond drill hole MCD003, part of the recently completed metallurgical sampling program at Mons Cupri copper deposit. The hole intersected:
For further details Dr Tim Sugden Managing Director T: +61 8 6389 7400 M: +61 407 085 032 [email protected]
122 metres @ 1.24% Cu, 0.18% Zn and 12.4g/t Ag (1.45% Cu EQ),
including
23.75 metres @ 2.69% Cu, 0.72% Zn and 32.3/t Ag (3.35% Cu EQ).
This large intersection is exciting, significantly extending and increasing the grade of the copper “stringer” zone at Mons Cupri.
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Figure 1: Mons Cupri Section
The higher grades intersected in the central part of the proposed open pit will further enhance the economics of the current Bankable Feasibility Study. The Mons Cupri Resource will be recalculated when all metallurgical assay results are received.
Managing Director Tim Sugden said, “This excellent result demonstrates the potential for increases in both the size and grade of the Mon Cupri copper deposit.”
Board
Anthony Kiernan Chairman
Tim Sugden Managing Director
Michael Mulroney Non-Executive Director
Allan Trench Non-Executive Director
Anthony Reilly Executive Director
Liza Carpene Company Secretary
Contact Details
Registered Office Suite 3, Level 1 127 Cambridge Street West Leederville WA 6007
T: +61 8 6389 7400 F: +61 8 9463 7836 [email protected] www.venturexresources.com
ABN: 28 122 180 205
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TIM SUGDEN Managing Director
For further information, please contact:
Tim Sugden / Liza Carpene – Venturex Resources Limited on (08) 6389 7400 Tony Dawe – Professional Public Relations on 0405 989 743 / (08) 9388 0944
ASSAY RESULTS: MCD003
Collar Coordinates:
HoleID Easting Northing RL Depth MCD003 583888 7690843 89 228.7
| Domain | From | Metres | Cu EQ % | Cu % | Zn % | Pb % | Ag g/t | Aug/t |
|---|---|---|---|---|---|---|---|---|
| HG Zn/Cu | 80.25 | 2.65 | 3.74 | 2.16 | 2.31 | 1.68 | 62.74 | 0.18 |
| HG Cu | 82.90 | 21.10 | 3.30 | 2.76 | 0.52 | 0.14 | 28.46 | 0.29 |
| Sub-Total HG Zn/Cu | 80.25 | 23.75 | 3.35 | 2.69 | 0.72 | 0.32 | 32.28 | 0.28 |
| Upper Stringer Cu | 104.00 | 54.00 | 1.22 | 1.12 | 0.04 | 0.01 | 8.17 | 0.05 |
| Lower Stringer Cu | 158.00 | 44.00 | 0.85 | 0.75 | 0.06 | 0.03 | 6.86 | 0.04 |
| Sub-Total Stringer Cu | 104.00 | 98.00 | 1.05 | 0.95 | 0.05 | 0.02 | 7.58 | 0.05 |
| Total Zones | 80.25 | 121.75 | 1.45 | 1.24 | 0.18 | 0.08 | 12.40 | 0.09 |
RESOURCES STATEMENT
| Location JORC Classification Tonnes Cu % Zn % Pb % Ag g/t Au g/t |
Location JORC Classification Tonnes Cu % Zn % Pb % Ag g/t Au g/t |
CuEq % |
|---|---|---|
| Measured 1,274,000 1.5 1.7 0.8 41.0 0.30 2.6 Indicated 5,989,000 1.1 2.4 0.7 23.6 0.20 2.2 Inferred 367,000 1.7 1.1 0.2 14.3 0.30 2.3 All Whim Creek/Salt Creek |
||
| Total 7,630,000 1.2 2.2 0.7 26.1 0.20 2.2 |
||
| Panorama Measured 4,500,000 1.6 3.2 0.2 17.0 2.6 Indicated 10,500,000 1.2 3.5 0.2 17.0 2.3 Inferred 4,300,000 0.6 2.2 0.2 13.0 1.3 |
||
| Total 19,300,000 1.2 3.1 0.2 16.1 2.2 |
||
| PROJECT Measured 5,774,000 1.6 2.9 0.3 22.3 0.1 2.6 TOTAL Indicated 16,489,000 1.2 3.1 0.4 19.4 0.1 2.3 Inferred 4,667,000 0.7 2.1 0.2 13.1 0.0 1.4 |
||
| Total 26,930,000 |
1.2 2.9 0.3 18.9 0.1 2.2 |
|
| Copper Zinc Lead Silver Gold Cu EQ t |
||
| Total Contained Metals(tonnes/oz) | 315,360 773,960 92,010 16,398,198 15,260 587,105 |
CuEQ = Cu% + Zn% x 0.255 + Pb% x 0.24 + Ag(ppm) x 0.008 + Au(ppm) x 0.5
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About Venturex Resources Limited
Venturex Resources Limited (ASX: VXR) is an exploration and development company with a portfolio of VMS projects in the Western Pilbara. Venturex owns or controls the Whim Creek Copper Mine and all associated mining leases and exploration tenements including copper, zinc, lead, silver and gold resources at Whim Creek, Mons Cupri, Salt Creek, ‐ Liberty Indee and Sulphur Springs. Other assets include the Whim Creek Hotel, an accommodation village, crushing circuit and various mining infrastructure. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing Whim Creek as a centralised processing hub. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.
Competency Statement
The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Dr Tim Sugden BSc, PhD, and Mr Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. Dr Sugden and Mr Wood are full time employees of Venturex Resources Limited and have sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Sugden and Mr Wood consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.
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