Venturex Resources updates Kangaroo Caves Resource

THE DRILL SERGEANT: Venturex Resources (ASX: VXR) has upgraded the Mineral Resource for the Kangaroo Caves copper-zinc deposit, part of the company’s Pilbara base metal project, located east of Port Hedland in the Pilbara region of Western Australia.

The new Resource has come in at 3.55 million tonnes grading 6 per cent zinc, 0.77 per cent copper and 15.2 grams per tonne silver.

This represents an 81 per cent increase in the zinc grade and a 55 per cent increase in copper grade.

The total Resource Inventory for the Pilbara base metal project now stands at 900,000 tonnes of contained zinc.

“The company is assessing whether this zinc dominant resource can be brought into the mining inventory for the Pilbara base metal project as part of the optimisation study currently being carried out,” Venturex Resources said in its ASX announcement.

“The optimisation study is focused on reducing pre-production expenditure by simplifying the project delivery and incorporating current market costs and conditions into the project economics.”

The Kangaroo Caves deposit is located approximately six kilometres south of Venturex’s Sulphur Springs deposit.

The company considers this estimate to have provided it with a better understanding of the style of mineralisation since its previous estimate as a result of the work done carried out on the Sulphur Springs deposit.

Venturex explained the Kangaroo Caves Resource was not included in the mining inventory for the Feasibility Study on Pilbara base metals project that was released in December 2012, however it is currently assessing the opportunity to include it in the mining inventory for the current Optimisation Study on the project.

Email: admin@venturexresources.com.au

Website: www.venturexresources.com.au