DEVELOP GLOBAL LIMITED — Regulatory Filings 2016

May 16, 2016

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ASX Announcement
ASX Code: VXR
Released: 17 May 2016
For further details
John Nitschke
Managing Director
T: +61 8 6389 7400
admin@venturexresources.com
Board
Tony Kiernan
Chairman
John Nitschke
Managing Director
Anthony Reilly
Non-Executive Director
Darren Stralow
Non-Executive Director
Trevor Hart
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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Surface Mapping Identifies New Targets for Extension of Mons Cupri Resource

New high-powered IP geophysical survey currently underway to identify potential new VMS systems

Highlights

• Primary and secondary controls for high grade stringer style copper mineralisation and overlying high grade zinc-lead-silver mineralisation identified at Mons Cupri, the largest Resource at Whim Creek.

• Potential for extensions of the high grade mineralisation to the west and down-plunge from the currently defined Mons Cupri pit Resource.

• New zone of strong alteration indicative of proximity to VMS-style mineralisation identified to north-east of the Mons Cupri North West pit.

• Confirmation that the Cistern Formation conglomerate that hosts the mineralisation at Mons Cupri extends for at least 4km east of the pits.

• Identification of post-mineralisation fault north of the Mons Cupri North West pit opens up the potential for the Cistern Formation conglomerate to be concealed beneath younger rock units.

As part of its back-to-basics exploration strategy at its key Pilbara copper-zinc projects, Venturex Resources (ASX: VXR) is pleased to advise that it has completed detailed structural mapping in and adjacent to the Mons Cupri Main and North West pits which form part of the Whim Creek Copper Zinc Project , located 122km to south-west of Port Hedland in WA.

The structural mapping follows a recently completed reinterpretation of the Mons Cupri Volcanogenic Massive Sulphide (VMS) mineralisation and was designed to better understand the orientation and nature of the faulting that controls the Mons Cupri mineralisation and identify potential extensions.

The controls have now been defined and confirm the potential for extensions of high grade massive zinc and lead sulphides with silver and associated high grade stringer copper sulphide mineralisation both to the west and downplunge of the current Resource (see Figure 1).

The mapping also defined a fault to the north of the Mons Cupri North West pit that has occurred subsequent to the mineralisation event and resulted in a downwards displacement of the Cistern Formation conglomerate, which is the host unit for the mineralisation at Mons Cupri.

This means that the Cistern Formation conglomerate is concealed beneath younger rock units along strike from the existing pit, making this position a prime target for discovering extensions to the Mons Cupri Resource (see Figure 1).

The mapping was also extended four kilometres to the east of the Mons Cupri pit to identify other nearby structural settings that might indicate potential targets for the discovery of new VMS deposits. This mapping confirmed the presence of Cistern Formation conglomerate, which is the host of the Mons Cupri mineralisation, and identified zones of sericite alteration which are indicators of VMS mineralisation (see Figure 1).

A high-powered Induced Polarisation (IP) survey has now commenced over the area around the Mons Cupri pits and extending eastwards over the prospective Cistern Formation conglomerate (see Figure 2). Early IP systems were successfully used in early exploration at Whim Creek in the 1960s to identify shallow mineralisation, whereas the system Venturex is using today has the capability to see more than 300m below surface. The results of this new survey are expected by the end of June 2016.

This work has reinforced the significant untapped exploration potential for the broader Whim Creek Project, which includes the Mons Cupri, Whim Creek, Evelyn and Salt Creek copper-zinc-lead and precious metal Resources, together with 18,500 hectares of tenements covering the Whim Creek, Salt Creek and Liberty VMS basins.

Venturex completed a Scoping Study on the Whim Creek Project in November 2010 which highlighted its potential to produce 13,000 tonnes a year of copper equivalent metal in copper, zinc and lead concentrates for nine years (see ASX Announcement – 26 November 2010).

Venturex's Managing Director John Nitschke said: “We have gone back to basics in our exploration at Mons Cupri and the results have been encouraging. We finished compiling the extensive exploration dataset on the project in February and then developed a revised model for the VMS mineralisation at Mons Cupri. Mons Cupri is our largest Resource at Whim Creek with 4.6Mt at 0.9% copper, 1.3% zinc, 0.5% lead and 24.1 g/t silver (see ASX release 8 October 2013), so it was the obvious place to start.

“The new interpretation of the mineralisation at Mons Cupri has highlighted the presence of high grade massive sulphide mineralisation and the mapping has confirmed that there is excellent potential to extend this in the immediate vicinity of the Mons Cupri pits,” he added.

“The mapping has also identified the potential for new VMS systems along strike to the north and east of the Mons Cupri pits and we are looking forward to the results of the current IP program that is aiming to identify them," Mr Nitschke said.

“This exploration effort is all part of our strategy to identify near-term production opportunities that we can achieve at Whim Creek in today's market conditions, and is aimed at increasing the grade or tonnes or both of the existing Resources at Mons Cupri.”

JOHN NITSCHKE Managing Director

For further information, please contact:

Investors

John Nitschke / Trevor Hart Venturex Resources Limited Ph: +61 (08) 6389 7400 Email: admin@venturexresources.com

Media:

Nicholas Read – Read Corporate Ph: (08) 9388 1474 Email: info@readcorporate.com.au

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Figure 1 – Mons Cupri Mapping

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Figure 2 - Area of IP Survey

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About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with two advanced Copper Zinc Projects near Port Hedland in the Pilbara region of Western Australia. The two projects are the Sulphur Springs Project which includes the Sulphur Springs Project, Kangaroos Caves Resource plus 27km of prospective tenements on the Panorama trend and the Whim Creek Project which includes the Resources at the Whim Creek, Mons Cupri and Salt Creek mines together with the Evelyn project and 18,100 ha of prospective tenements over the Whim Creek basin. Our strategy is to work with our partners Blackrock Metals to expand and extend the existing 5 tonne per day oxide copper heap leach and SXEW operation at Whim Creek, identify other near term production options at Whim Creek, Mons Cupri and Sulphur Springs and fully optimise the Sulphur Springs Project have it shovel ready to take advantage of forecast improvements in base metal prices.

Competency Statements

The information in this announcement that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Mr James Guy who is a Member of the Australasian Institute of Mining and Metallurgy. The information contained in this announcement was previously released in announcements “Company Resource and Reserve Statement – Revised” released 8 October 2013.

The Company confirms that:

• a. The form and context of the material in this presentation has not been materially modified from the above previous announcements;

• b. It is not aware of any new information or data that materially affects the information included in the 8 October 2013 announcement and that all material assumptions and technical parameters underpinning the estimate in the 8 October 2013 announcement’s continue to apply and have not materially changed; and

• c. It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

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