Venturex encouraged by Sulphur Springs drilling results

THE DRILL SERGEANT: Venturex Resources (ASX:VXR) has received all final assay results a recent RC drilling program carried out at the company’s Sulphur Springs copper-zinc deposit in the Pilbara region of Western Australia.

The company said the results have confirmed high-grade extensions to the Western Lens copper-zinc mineralisation at depth.

Results included:

–    11 metres at 19.44 per cent zinc in the Hanging Wall zone; and

–    7m at  4.83 per cent copper in the Main Zone.

“These high grade intersections not only extend the area of high grade mineralisation at the base of the Western Lens but also highlight the hanging wall mineralisation as a future mining target,” Venturex Resources managing director Michael Mulroney said in the company’s announcement to the Australian Securities Exchange.

“We are working on revising the underground mine plan to extend into these areas to further extend the life of the planned underground mining operation at Sulphur Springs.”

Venturex said the broad, high-grade intersections it encountered in drill holes SSR001, 2 and 3 have extended the extent of the Main Zone mineralisation beyond the boundaries of its current resource model along a preferred plunge direction.

The hanging wall intersection of 11 metres at 19.44 per cent zinc recorded in SSR002 has provided a considerable extension to the extent of the high grade hanging wall mineralisation.

 

Sulphur Springs drilling. Source: Company announcement

 

The company admitted it did not expect to intersect the thick hanging wall zone, and although it is low grade, Venturex considers it does provide further potential for extensions along strike to the west and up dip.

This hanging wall zone is currently not included in the company’s proposed mine plan or the project’s stated ore reserves.

Venturex has commenced work on revising the Sulphur Springs resource model and the underground mine plan to incorporate the new results as quickly as possible.