THE BOURSE WHISPERER: Ventnor Resources (ASX: VRX) is making new progress at the company’s Arrowsmith silica sand project in Western Australia.
Ventnor’s Arrowsmith project is broken down into three smaller project areas: Arrowsmith North, Central and South.
The company has been granted a Program of Work (PoW) for exploration on both Arrowsmith North (E70/5076) and Arrowsmith Central (E70/4987) prospects by the Western Australia Department of Mines, Industry and Safety (DMIRS).
Drilling is set to commence in September subject to the ground drying out in compliance with the company’s Dieback Management Plan, which has been accepted by DMIRS and added to the tenement conditions for the PoW areas and requires drilling to be undertaken in dry conditions.
Ventnor’s application for Exploration Licence E70/5109 was granted on 14 August 2018.
Ventnor has also applied for an additional Exploration Licence (ELA70/5197) covering an area of 8.5 square kilometres at the Arrowsmith project it believes to complement its current status as it is contiguous with the existing holding.
The Arrowsmith project now comprises four granted exploration licences and one new application covering a total area of approximately 379sqkm.
A JORC-2012 compliant Maiden Mineral Resource is being estimated for the Arrowsmith North and Central areas, utilising existing hand auger data.
Ventnor anticipates the estimate to come in at the Inferred level of confidence and to be completed in the current calendar quarter.
“The approved POW now allows us to undertake drilling programs targeting a JORC-2012 compliant Mineral Resource to an Indicated category,” Ventnor Resources managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.
“In addition to the Mineral Resource estimations, drilling, assays and a third iteration of testwork are expected to be completed before the end of the year and will all contribute to a near term Feasibility Study on the Arrowsmith silica sand project.”