Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	VRX
Latest Price:	0.37 (0.00%)
52-week High:	0.94
52-week Low:	0.13
Market Cap:	19.00M

1 year chart

1 day chart

Ventnor Resources Full Ventnor Resources profile here

Ventnor Resources (ASX: VRX) is a base metals exploration company with three key projects: Thaduna and Green Copper Projects, located 40 kilometres from Sandfire Resources' De Grussa project in WA, the Warrawanda and Nickel Hills Nickel Projects also in WA, and the Georgina Basin IOCG Project in QLD.

Historic mining at Thaduna produced 30,290 tonnes at 8.7% copper, with Green Dragon producing 9,100 tonnes at 5.2% copper.

Ventnor Resources: high grade copper strikes at Green Dragon provide immediate ore for production

Monday, February 20, 2012 by John Phillips

With Ventnor delivering high grade near surface intersections such as 10m at 6.82% copper and 6m at 10.96% copper from Green Dragon, the company has greatly enhanced the economics of the deposit with immediate ore access for production.

Ventnor Resources (ASX: VRX) has delivered some outstanding intersections from reverse circulation drilling at the highly prospective and strategically located Thaduna and Green Dragon copper project.

Phase three drilling highlights from the Green Dragon prospect include:

- 10 metres at 6.82% copper from 34 metres, including 6 metres at 10.96% copper;
- 7 metres at 4.43% copper from 75 metres, including 5 metres at 6.07% copper; and
- 7 metres at 4.33% copper from 88 metres, including 5 metres at 5.93% copper.

Supporting these discoveries are some broad intersections, including; 19 metres at 3.33% copper from 63 metres, including 12 metres at 5.07% copper; and 29 metres at 2.22% copper from surface, including 9 metres at 4.00% copper.

Bruce Maluish, managing director, commented on the very positive drilling results:

“The last phase of reverse circulation at the Green Dragon has largely completed the investigation of the extent of the main zone of mineralisation to a vertical depth of 200 metres.

“Significant high grade results at or near the surface greatly enhance the economics of this deposit with immediate ore access for production.”

Where the story gets even more interesting for Green Dragon, is that the prospect is just 4 kilometres north of the primary project at Thaduna, and is ideally situated to provide high-grade supplementary feed stock early in the production
scenario.

The majority of the mineralisation at the Green Dragon confirmed to date is chalcocite. The company is also well funded to continues exploration, after raising $3.4 million from a placement earlier in the month.

Phase four diamond drilling underway

A 9000 metre phase four drilling program is already underway with predominately diamond drilling to be completed in April 2012, allowing for a JORC Resource to be delivered to the market around mid-2012.

Two 2 HQ diamond holes for 340 metres will be drilled within the main mineralised zone to generate metallurgical samples, as well as geotechnical data to aid with pit design work.

Strategically located

To say Thaduna and Green Dragon is strategically located is almost an understatement, with the area rapidly turning into one of the biggest, if not the best, emerging copper districts in Australia.

Highlighting the prospectivity, Sandfire Resources' (ASX: SFR) massive De Grussa project is just 40 kilometres away, with a group of explorers in the region discovering high grade copper during 2011.

Analysis

The phase three assays plus previous results show that Ventnor has something special at Thaduna and Green Dragon, which further drilling will unfurl over time.

Phase four drilling is already underway with a focus on diamond drilling to provide additional data to the JORC Resource forecast for around mid-June.

Ventnor will be presenting at the Proactive Investors One2One Forums - Perth; Wednesday 29th February.

To register for FREE - CLICK HERE.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.