Venturex Resources (ASX:VXR) is committed to the identification, acquisition and development of mineral resources that will deliver substantial and sustainable value to Shareholders.
The Company is based in Perth, Western Australia. Venturex's principal asset is the Whim Creek VMS Project located in the Pilbara Region of Western Australia. The Company also controls a number of advanced gold projects in Brazil.
Venturex Resources reports 63% boost at Mons Cupri project
The Venturex Resources (ASX: VXR) Mons Cupri deposit in the Pilbara has a revised Probable Ore Reserve estimate of 2.77 million tonnes @ 2.2% Cu Eq representing a tonnage increase of 63%, which includes a 74% increase in contained copper equivalent metal to 61,000 tonnes.
The revised Mineral Resource estimate (all categories) at a cutoff grade of 0.6% Cu Eq is 4.94 million tonnes @ 1.6% Cu Eq.
The Mons Cupri Mineral Resource and Ore Reserve was re-estimated in accordance with the JORC Code 2004, following successful recent diamond and RC drilling programs.
There is potential for further additions to the resources and reserves in the Mons Cupri area in the short term, as further drilling is planned to commence later this month.
Mineral Resource revisions are currently being prepared in for the nearby Whim Creek deposit and the Salt Creek deposit, which is located approximately 15km to the northwest of the Whim Creek site.
The Mons Cupri, Whim Creek, Salt Creek and Liberty-Indee resources will underpin a Scoping Study expected to be completed in the next quarter, targeting a milling rate of 600,000 tonnes per annum for an initial Life of Mine Plan of approximately eight years.
Venturex advises further exploration work is underway on other VMS targets, including the Liberty-Indee area located approximately 35km to the south, which is believed to have the potential to emerge as a second VMS camp, raising the prospect of multiple additional VMS deposits in the district.
