DEVELOP GLOBAL LIMITED — Regulatory Filings 2012

Nov 22, 2012

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ASX Announcement
ASX Code: VXR
Released: 22 Nov 2012
For further details
Michael Mulroney
Managing Director
T: +61 8 6389 7400
M: +61 412 443 806
michael.mulroney@venturexresources.com
Board
Tony Kiernan
Chairman
Michael Mulroney
Managing Director
Allan Trench
Non-Executive Director
John Nitschke
Non-Executive Director
Ray Parry
Non-Executive Director
Liza Carpene
Company Secretary
Contact Details
Registered Office
Level 2
91 Havelock Street
West Perth WA 6005
T: +61 8 6389 7400
F: +61 8 9463 7836
admin@venturexresources.com
www.venturexresources.com
ABN: 28 122 180 205
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WHIM CREEK EXPLORATION UPDATE

Venturex Resources Limited (ASX: VXR) (“Venturex” or “the Company”) is pleased to provide an update on the Company’s exploration activities on its portfolio of copper-zinc deposits in the West Pilbara region of Western Australia.

Salt Creek Trend

The majority of assay results have been received for the recent drilling undertaken on new target areas within the Salt Creek trend, located approximately 17 kilometres northwest of Whim Creek.

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Figure 1 - Whim Creek Region Exploration Targets

East Balla

At East Balla, RC drilling (BBR001-006) intersected a broad zone of footwall-style alteration (chlorite, silica, sericite and locally fuchsite) with local zones of disseminated, and occasionally semi-massive[1] , sulphide mineralisation.

The results confirmed that the sulphide mineralisation within the mineralised intervals is predominately pyrite (iron sulphide) with traces of copper and zinc mineralisation. The assay results (Table 1) highlighted a broad zone (up to 17 metres) of anomalous copper, zinc and lead values consistent with stringer mineralisation in a peripheral footwall setting.

1 “Semi-massive" refers to up to 40% pyrite.

	From (m)	To (m)	Length (m)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Location
EAST BALLA
BBR001	NSA
BBR002	Hole abandoned , not assayed
BBR003	120	138	18	0.03	0.15	0.02	1.3	0.0
BBR004	218	232	14	0.00	0.16	0.07	1.4	0.0
BBR005	175	192	17	0.00	0.16	0.06	0.9	0.0
BBR006	149	154	5	0.03	0.15	0.03	2.9	0.0
BBR007	197	201	4	0.03	0.20	0.03	1.9	0.0

Note: NSA = No significant assay Table 1 - East Balla Drill Hole Assay Results

Dough Boy

Several RC drill holes (DBR001, DBR005, DBR006) at the Dough Boy prospect, located at the southern end of the Salt Creek trend, intersected broad (+20 metres) zones of footwall-style alteration but no significant assays were recorded.

Salt Creek

The two RC drill holes completed 400 metres south west along strike of the Salt Creek deposit prospect intersected only minor disseminated sulphide mineralisation in altered volcanoclastic sediments. Assay results from SCR014 indicated narrow zones of minor copper and zinc mineralisation whilst no significant assays were recorded from SCR015.

	From (m)	To (m)	Length (m)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Location
SALT CREEK
SCR014	81	83	2	0.12	0.03	0.00	<0.5	0.0
and	88	92	4	0.02	0.12	0.08	<0.5	0.0
SCR015	NSA

Note: NSA = No significant assay Table 2 - Salt Creek Drill Hole Assay Results

Liberty-Indee Joint Venture

Evelyn Deposit

The two diamond drill holes completed to test down-hole EM anomalies positioned down plunge from the existing Evelyn Cu-Zn resource revealed that the targeted contact horizon has been extensively folded. Both diamond drill holes intersected small (0.5m) zones of sulphide mineralisation consisting of predominately pyrrhotite (iron sulphide) with minor zinc and copper sulphides.

Assay results included 0.4 metres @ 0.09% Cu, 3.36% Zn, 0.07% Pb, 7g/t Ag from 362.4 metres in JED009 and 0.6 metres @ 0.48% Cu, 0.04% Zn, 0.01% Pb, 4g/t Ag from 335.8 metres in JED010.

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Figure 2 – Long Section Evelyn Deposit

	From (m)	To (m)	Length (m)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Location
EVELYN
JED009	205.4	208.7	3.3	0.15	0.62	0.01	1.3	0.02
and	362.4	362.8	0.4	0.09	3.36	0.33	7.0	0.01
and	365.6	366.8	1.2	0.49	0.10	0.01	3.3	0.01
and	372.5	372.9	0.4	0.46	0.06	0.01	2.0	0.02
JED010	165.5	166.7	1.2	0.11	0.42	0.01	1.0	0.01
and	335.8	336.4	0.6	0.48	0.04	0.01	4.0	0.02
Table 3 - Evelyn Deposit Drill Hole Assay Results

The drilling has not fully explained the down hole geophysical anomalies and a further down hole geophysical survey is planned prior to future drilling to assist in structural analysis and modelling of the area.

MICHAEL MULRONEY Managing Director

For further information, please contact:

Michael Mulroney / Liza Carpene – Venturex Resources Limited on (08) 6389 7400 Tony Dawe – Professional Public Relations on 0405 989 743 / (08) 9388 0944

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About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with a significant portfolio of VMS projects in the Western Pilbara. Venturex owns or controls significant resources of copper, zinc, lead, silver and ‐ gold at Sulphur Springs, Kangaroo Caves, Whim Creek, Mons Cupri, Salt Creek and Liberty Indee. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing a centralised processing hub at Sulphur Springs. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.

Competency Statements

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Mr Michael Mulroney and Mr Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. Mr Mulroney 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”. Mr Mulroney 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.

Drill Hole Details

Prospect	Hole ID	Easting	Northing	RL	Depth (m)	Dip	Azimuth
Balla Balla East	BBR001	581475	7706875	13	172	-600	1800
	BBR002	581075	7706850	13	76	-600	1800
	BBR003	580700	7706730	13	172	-600	1800
	BBR004	580710	7706780	13	262	-600	1800
	BBR005	580650	7706740	13	214	-600	1800
	BBR006	581075	7706855	13	172	-600	1800
	BBR007	580760	7706800	13	268	-600	1800
Dough Boy	DBR001	570130	7703890	11	186	-600	3600
	DBR002	570130	7703965	11	172	-600	3600
	DBR003	570120	7704250	11	226	-600	3600
	DBR004	570360	7703840	11	226	-600	3600
	DBR005	569880	7703860	11	226	-600	3600
	DBR006	571060	7704150	11	292	-600	3600
	DBR007	571060	7704450	11	226	-600	3600
Salt Creek	SCR014	573335	7704518	11	244	-600	3300
	SCR015	573190	7704485	11	227	-600	3300
**Evelyn **	JED009	587938	7667345	82	499	-600	1300
	JED010	587963	7667316	82	466	-600	1200

	From (m)	To (m)	Length (m)	Cu %	Zn %	Pb %	Ag **g/t **	Au **g/t **
Location
EAST BALLA
**BBR001 **			NSA
BBR002			Hole abandoned, not assayed
BBR003	120	138	18	0.03	0.15	0.02	1.3	0.0
BBR004	218	232	14	0.00	0.16	0.07	1.4	0.0
BBR005	175	192	17	0.00	0.16	0.06	0.9	0.0
BBR006	149	154	5	0.03	0.15	0.03	2.9	0.0
BBR007	197	201	4	0.03	0.20	0.03	1.9	0.0
DOUGHBOY
**DBR001 **				NSA
DBR002				NSA
DBR003				NSA
DBR004				NSA
DBR005				NSA
DBR006				NSA
DBR007				NSA
SALT CREEK
SCR014	81	83	2	0.12	0.03	0.00	<0.5	0.0
and	88	92	4	0.02	0.12	0.08	<0.5	0.0
SCR015				NSA
EVELYN
JED009	205.4	208.7	3.3	0.15	0.62	0.01	1.3	0.02
and	362.4	362.8	0.4	0.09	3.36	0.33	7.0	0.01
and	365.6	366.8	1.2	0.49	0.10	0.01	3.3	0.01
and	372.5	372.9	0.4	0.46	0.06	0.01	2.0	0.02
JED010	335.8	336.4	0.6	0.48	0.04	0.01	4.0	0.02

Note: NSA = No significant assay.

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