Proactiveinvestors Australia Venturex Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Venturex Resources Ltd RSS feed en Tue, 18 Jun 2019 10:53:10 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Venturex Resources gains momentum towards Sulphur Springs Copper-Zinc development ]]> https://www.proactiveinvestors.com.au/companies/news/212451/venturex-resources-gains-momentum-towards-sulphur-springs-copper-zinc-development-212451.html Venturex Resources Ltd (ASX:VXR) is making strong progress towards securing finance for the development of its flagship Sulphur Springs Copper-Zinc Project in Western Australia’s Pilbara region.

Following the completion of an updated Definitive Feasibility Study in October 2018, Venturex is rapidly progressing multiple work-streams which are expected to underpin its transition to the development phase at Sulphur Springs this year, positioning it to take advantage of the strong medium and long-term outlook for copper and zinc markets.

Financing

Following a roadshow to potential financiers in November – December 2018, Venturex has now received several positive Expressions of Interest (EOI’s) from domestic and international banks and other financiers in relation to project debt finance, with further EOI’s expected to be received during the course of January 2019.

In parallel, Venturex is advancing talks with a number of potential off-take counterparties who have expressed strong interest in the project’s copper and zinc concentrates.

The company has received several proposals from strong off-taker groups, all of which include the provision of potential off-take funding that would be complementary to the senior debt facilities currently being progressed.

Venturex has also commenced the technical due diligence of the Sulphur Springs Project which will form part of the bank financing.

Plant update

The company is currently engaged in an early contractor engagement strategy with regards to process plant design and implementation.

An official tender process will begin in February 2019 with a contract award for plant construction expected to follow.

Venturex managing director AJ Saverimutto said: “We’re out of the blocks early in 2019 and already building significant momentum in the debt financing process for the Sulphur Springs Project.

“We are very encouraged by the strong level of interest in providing project financing for Sulphur Springs and look forward to advancing the parallel streams of financing and off-take discussions in the coming weeks.”

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Mon, 14 Jan 2019 13:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212451/venturex-resources-gains-momentum-towards-sulphur-springs-copper-zinc-development-212451.html
<![CDATA[News - Venturex Resources bags $4M to advance Sulphur Springs Copper-Zinc Project ]]> https://www.proactiveinvestors.com.au/companies/news/187460/venturex-resources-bags-4m-to-advance-sulphur-springs-copper-zinc-project-187460.html Venturex Resources Ltd (ASX:VXR) has completed an over-subscribed placement of shares to raise circa $4 million at $0.018 each.

The company has received significant support from new institutional and sophisticated investors to advance its Sulphur Springs Copper-Zinc Project, located southeast of Port Hedland in Western Australia.

Venturex recently received further high-grade assay results from its ongoing in-fill drilling program at Sulphur Springs targeting shallow mineralisation.

The company’s drill hole intersected four zones of zinc mineralisation with the best result being:

- 20 metres at 12.05% zinc from 83 metres, including 4 metres at 20.8% zinc and 2.67% lead from 99 metres.

Another drill hole intersected three zones of copper mineralisation with the best result being 6.1 metres at 2.28% copper from 97 metres, plus a further two zones which were also associated with zinc mineralisation.

Three further holes have been completed, each intersecting significant widths of semi-massive to massive sulphides with visible copper and zinc sulphide minerals.

Venturex is planning to use the funds to advance works at Sulphur Springs, including resource and regional exploration drilling, metallurgical test work, EPA approvals and completion of a definite feasibility study.

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Mon, 20 Nov 2017 08:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187460/venturex-resources-bags-4m-to-advance-sulphur-springs-copper-zinc-project-187460.html
<![CDATA[News - Venturex Resources' copper-zinc strategy attracts investors ]]> https://www.proactiveinvestors.com.au/companies/news/187334/venturex-resources-copper-zinc-strategy-attracts-investors Venturex Resources Ltd (ASX:VXR) is advancing its Sulphur Springs Copper-Zinc Project, located southeast of Port Hedland in Western Australia.

The investment community is liking the new strategy, with Venturex currently undertaking a fully underwritten capital raising.

A halt has been granted by the ASX to complete the details, which will remain in place until the opening of trade on Monday 20th November 2017, or earlier if an announcement is made to the market.

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Thu, 16 Nov 2017 11:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187334/venturex-resources-copper-zinc-strategy-attracts-investors
<![CDATA[News - Venturex Resources to reveal study for copper-zinc project ]]> https://www.proactiveinvestors.com.au/companies/news/173088/venturex-resources-to-reveal-study-for-copper-zinc-project-173088.html Venturex Resources (ASX:VXR) is preparing to outlined details of a Value Engineering Study on the Sulphur Springs copper-zinc project, which is located south-east of Port Hedland in Western Australia.

The project includes the proposed Sulphur Springs and Kangaroo Caves mines together with tenements covering 27 kilometres of the Panorama trend.

The halt remains in place until the opening of trade on Thursday 16th February 2017, or earlier if an announcement is made to the market.

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Tue, 14 Feb 2017 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173088/venturex-resources-to-reveal-study-for-copper-zinc-project-173088.html
<![CDATA[News - Venturex Resources on a zinc-copper streak in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/171503/venturex-resources-on-a-zinc-copper-streak-in-western-australia-171503.html The final assays from the diamond drilling program include:

- 18.7 metres at 2.42% copper from 458 metres; and

- 9.85 metres at 8.76% zinc and 1.44% lead from 265.15 metres; and 1.72 metres at 12.2% zinc and 5.97% lead from 279.14 metres.

Assays demonstrate the prospectivity of the Salt Creek VMS system continues to improve at depth.

News flow to come in the hear near will be from downhole geophysics.

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Thu, 12 Jan 2017 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171503/venturex-resources-on-a-zinc-copper-streak-in-western-australia-171503.html
<![CDATA[News - Venturex Resources Ltd’s drilling expands Whim Creek copper potential ]]> https://www.proactiveinvestors.com.au/companies/news/169706/venturex-resources-ltds-drilling-expands-whim-creek-copper-potential-169706.html The company’s shares were last trading at $0.009, up 12.5% intraday.

This three-hole program is designed to test the down-plunge extensions of the known high grade zinc and copper mineralisation at Salt Creek.

The targets being tested were identified from the processing of a historical geophysical dataset, combined with the development of an updated structural model.

Venturex intersected 45 metres of visual stringer copper sulphides from 455 metres down-hole.

The latest result continues the recent exploration success at Salt Creek and demonstrates that the prospectivity of the Salt Creek system potentially increases at depth.

The Whim Creek Project includes the Whim Creek, Mons Cupri, Salt Creek and Evelyn zinc-lead-copper deposits.

The total JORC resource of the project currently stands at 7.2 million tonnes at 2.3% zinc and 1.3% copper.

A third drill-hole is currently underway targeting a down-plunge position of the western zinc lode.

If more mineralisation is confirmed in subsequent drilling, this could be a significant development for Salt Creek, opening up the potential to further increase the resource inventory.

Venturex is well funded with $4.4 million as at 30 September 2016.

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Wed, 30 Nov 2016 07:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169706/venturex-resources-ltds-drilling-expands-whim-creek-copper-potential-169706.html
<![CDATA[News - Venturex Resources shares rise on high-grade zinc, lead hits at Whim Creek ]]> https://www.proactiveinvestors.com.au/companies/news/167683/venturex-resources-shares-rise-on-high-grade-zinc-lead-hits-at-whim-creek-167683.html The company’s shares were last trading at $0.012, up 33% intraday.

Venturex’s 6-hole program targeted extensions of the Salt Creek zinc-lead deposit within the Whim Creek Project.

Exceptional zinc, lead and silver grades were returned from zones of massive sphalerite and galena sulphide mineralisation intersected in two of the holes.

The results include:
- 1.64 metres at 43.9% zinc, 19.5% lead, 551 g/t silver, 0.8 g/t gold from 150.3 metres; and
- 1.93 metres at 23.6% zinc, 13.3% lead, 802 g/t silver, 1.14 g/t gold from 78.4metres.

The results demonstrate the outstanding grade and tenor of the mineralisation in the upper part of the Eastern Lode at Salt Creek.

Assays are awaited for the remaining three holes and drilling is planned to resume in November targeting potential depth extensions of the Salt Creek deposit.

The Whim Creek Project includes the Whim Creek, Mons Cupri, Salt Creek and Evelyn zinc-lead-copper deposits.

The total JORC resources within the Whim Creek Project currently stand at 7.2 million tonnes at 2.3% zinc and 1.3% copper.

John Nitschke, managing director, commented: “Hole VSCD003 has extended the massive sulphide mineralisation to within 65 metres of the surface, while VSCD001 has filled in an important gap in the historical drilling.”

“The next step for us is to evaluate the opportunities to expand the deposit at depth – which is where, from our recent work, we believe the real potential lies.”

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Thu, 20 Oct 2016 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167683/venturex-resources-shares-rise-on-high-grade-zinc-lead-hits-at-whim-creek-167683.html
<![CDATA[News - Venturex Resources Ltd to drill for zinc and copper at Whim Creek ]]> https://www.proactiveinvestors.com.au/companies/news/165560/venturex-resources-ltd-to-drill-for-zinc-and-copper-at-whim-creek-70686.html Venturex Resources Ltd (ASX:VXR) will soon commence a major drill program at its Whim Creek Zinc‐Copper Project, located 115 kilometres south‐west of Port Hedland in Western Australia.

The drilling Whim Creek is expected to continue for the rest of the year with the objective of growing the existing resource of 131,300 tonnes of zinc and 87,700 tonnes of copper.

The Whim Creek Project includes the Whim Creek, Mons Cupri, Salt Creek and Evelyn deposits plus 18,500 hectares of tenements covering the highly prospective Whim Creek basin.

Zinc accounts for most of the metal endowment in the Whim Creek Project area which has extensive infrastructure and a long mining history.

The upcoming drilling program will test potential extensions of the known high‐grade zinc‐copper‐silver‐gold sulphide mineralisation at the Mons Cupri deposit.

Venturex will also look to identify new drilling targets at Salt Creek and potential repeats of mineralisation identified at Evelyn in the past.

The long‐predicted shortfall in the zinc market is growing in size and the price is reacting accordingly. Zinc prices have risen more than 50% since the beginning of 2016.

Adding interest, Venturex has received more than $1 million to date from Blackrock Metals as net profit interest (NPI) from copper oxide heap leach access and processing agreement at Whim Creek.

The company is currently carrying out a share placement and rights issue to raise up to $5 million at $0.006 per share.

 

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Fri, 26 Aug 2016 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165560/venturex-resources-ltd-to-drill-for-zinc-and-copper-at-whim-creek-70686.html
<![CDATA[News - Venturex Resources Ltd gets ready to raise ]]> https://www.proactiveinvestors.com.au/companies/news/146994/venturex-resources-ltd-gets-ready-to-raise-69947.html Venturex Resources Ltd (ASX:VXR) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 25th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 21 Jul 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146994/venturex-resources-ltd-gets-ready-to-raise-69947.html
<![CDATA[News - Venturex Resources Ltd looks for extensions of VMS systems at Pilbara project ]]> https://www.proactiveinvestors.com.au/companies/news/146993/venturex-resources-ltd-looks-for-extensions-of-vms-systems-at-pilbara-project-69080.html Venturex Resources Ltd (ASX:VXR) has identified strong IP anomalies supporting potential extensions of the high-grade volcanogenic massive sulfide ore deposits at its Whim Creek copper zinc project in the Pilbara.

The anomalies are to the east and west of the Mons Cupri open pits, along the inferred strike of the structures controlling high grade zinc, lead and copper-gold sulphide mineralisation.

Importantly, previous drill intersections to the west of the Mons Cupri open pit included 18 metres grading 5.0% copper, 1.9% zinc, 0.6% lead and 3.4 g/t gold from 34 metres.

The IP data will now undergo detailed processing and interpretation that will feed back into the company's new geological model for Mons Cupri.

This will assist Venturex in defining drill targets aimed at extending the high grade sulphides.

Venturex completed a scoping study on the Whim Creek Project in November 2010 which highlighted potential to produce 13,000 tonnes a year of copper equivalent metal in copper, zinc and lead concentrates for nine years.

In February saw a revised model for the VMS mineralisation at Mons Cupri. It has a Resource at Whim Creek with 4.6 million tonnes at 0.9% copper, 1.3% zinc, 0.5% lead and 24.1 g/t silver.

Adding interest, the company will receive $500,000 for 1H 2016 from Blackrock Metals as net profit interest (NPI) from oxide heap leach access and processing agreement at Whim Creek.

This revenue stream is expected to grow as Venturex will receive 49% NPI from 2017 onwards compared to 30% in 2016.
   
The share price of Venturex has doubled since the beginning of 2016.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 07 Jun 2016 14:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146993/venturex-resources-ltd-looks-for-extensions-of-vms-systems-at-pilbara-project-69080.html
<![CDATA[News - Venturex Resources prepares to divulge details on Optimisation Study ]]> https://www.proactiveinvestors.com.au/companies/news/146992/venturex-resources-prepares-to-divulge-details-on-optimisation-study-65401.html Venturex Resources (ASX:VXR) has been granted a trading halt by the ASX this morning, pending details regarding the Pilbara Copper Zinc Project Optimisation Study.

Venturex wholly-owns the project, which is located 160 kilometres south of Port Hedland in Western Australia.

A review of the mining plan for the Sulphur Springs deposit by Entech Pty Ltd (an independent mining consultancy) has identified that the upper part of the mineralisation can be more economically mined using open pit mining rather than the underground methods proposed in the Feasibility Study completed

The halt will remain in place until the opening of trade on Thursday 5th November 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 03 Nov 2015 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146992/venturex-resources-prepares-to-divulge-details-on-optimisation-study-65401.html
<![CDATA[News - Venturex Resources to improve economics of Pilbara copper zinc project ]]> https://www.proactiveinvestors.com.au/companies/news/146991/venturex-resources-to-improve-economics-of-pilbara-copper-zinc-project-63652.html Venturex Resources (ASX:VXR) is due to receive a net profit interest payment of $263,000 from Blackrock Metals for 2Q 2015.

Proceeds will be used to analyse opportunities to optimise economics of the company’s Pilbara Copper Zinc Project identified since completion of the Feasibility Study in 2012.

These include reducing implementation costs by deferring initial mine development, using conventional tailings disposal and rationalisation of the project infrastructure together with bringing forward production of higher grade ore.

Costs will also be updated to reflect current market conditions.

Venturex has a 15% net profit interest on copper production from the Whim Creek oxide copper heap leach pads in Western Australia’s Pilbara region under its agreement with Blackrock.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 27 Jul 2015 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146991/venturex-resources-to-improve-economics-of-pilbara-copper-zinc-project-63652.html
<![CDATA[News - Venturex Resources to reveal potential transaction ]]> https://www.proactiveinvestors.com.au/companies/news/146990/venturex-resources-to-reveal-potential-transaction-62494.html Venturex Resources (ASX:VXR) has been granted a trading halt by the ASX pending details of a potential transaction for the sale of the Pilbara Copper-Zinc Project.

The halt will remain in place until the opening of trade on Monday 25th May 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 21 May 2015 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146990/venturex-resources-to-reveal-potential-transaction-62494.html
<![CDATA[News - Venturex Resources selling non-core assets ]]> https://www.proactiveinvestors.com.au/companies/news/146989/venturex-resources-selling-non-core-assets-62252.html Venturex Resources (ASX:VRX) has agreed to sell a non-core exploration tenement to Forge Resource Swan Pty Ltd for $400,000.

Exploration Tenement E47/924 is located within the Salt Creek region in Western Australia.

Salt Creek consists of an underexplored 12 kilometre belt covering two known areas of mineralisation and a number of prospects including ACL, West Balla Balla and East Balla Balla.

The ability to explore and exploit any resources on the company’s remaining tenement in this area is not affected by the sale of this tenement (E47/924).

This proposed transaction is consistent with the company’s policy of divesting non-core assets to focus on exploring and developing its extensive copper-zinc assets in the Pilbara region, while providing additional funding to drive these programs through 2015.

The sale will boost Venturex’s cash position to over $1.3 million, ensuring it is funded for its 2015 exploration programs and options to enhance/commercialise the Pilbara Copper-Zinc Project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 08 May 2015 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146989/venturex-resources-selling-non-core-assets-62252.html
<![CDATA[Media files - Michael Mulroney Managing Director of Venturex Resources speaks to Proactive Investors at RIU Explorers Conference about the plan to be a copper-zinc producer and finalising a feasibility study on its Pilbara assets ]]> https://www.proactiveinvestors.com.au/companies/stocktube/5578/michael-mulroney-managing-director-of-venturex-resources-speaks-to-proactive-investors-at-riu-explorers-conference-about-the-plan-to-be-a-copper-zinc-producer-and-finalising-a-feasibility-study-on-its-pilbara-assets-377.html Thu, 13 Mar 2014 16:55:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/5578/michael-mulroney-managing-director-of-venturex-resources-speaks-to-proactive-investors-at-riu-explorers-conference-about-the-plan-to-be-a-copper-zinc-producer-and-finalising-a-feasibility-study-on-its-pilbara-assets-377.html <![CDATA[News - Venturex Resources granted approval for copper-zinc development in Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/146988/venturex-resources-granted-approval-for-copper-zinc-development-in-pilbara-53653.html Venturex Resources' (ASX: VXR) Sulphur Springs copper-zinc mining proposal has been approved by the WA Department of Mines and Petroleum.

The granting of the proposal represents the final key government approval, and is milestone for the development of the project and the future of the company.

Venturex's focus is now on advancing development options as part of a drive to commercialise its extensive copper-zinc
assets in the Pilbara region.

The company's Pilbara assets host a known resource of 26.4 million tonnes at 1.2% copper, 3.4% zinc, 0.3% lead and 18.4 grams per tonne silver.

Exploration is advancing at three major volcanogenic massive sulphide centres within the region, with initial results from diamond drilling at the Kangaroo Caves and Midway expected shortly.

Recently, Venturex netted $1.7 million from the sale of a hotel it owned in the Pilbara, boosting its cash reserves to over $4 million.

The company also controls large scale gold targets in Brazil, and is capitalised at $10 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 13 Mar 2014 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146988/venturex-resources-granted-approval-for-copper-zinc-development-in-pilbara-53653.html
<![CDATA[News - Venturex Resources to boost cash reserves with $1.7 million sale of hotel, Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/146987/venturex-resources-to-boost-cash-reserves-with-17-million-sale-of-hotel-western-australia--51476.html Venturex Resources (ASX: VXR) has entered into a binding agreement for the $1.7 million sale of its Whim Creek Hotel and adjacent accommodation village complex in the Pilbara region of Western Australia.

The Whim Creek Hotel is located 120 kilometres southwest of Port Hedland, and along with the accommodation village, and land title, has been sold to a private investment company representing a consortium of local investors.

Settlement is expected in first quarter 2014, and will boost Venturex’s cash and receivables position to $5.2 million, ensuring the company is fully funded for its 2014 exploration program.

Venturex is currently undertaking a 1,350 metre diamond drilling program at the Pilbara Midway prospect, about 4 kilometres southeast of its Sulphur Springs copper-zinc deposit.

Future drilling programs are planned for the first half of 2014, including diamond drilling immediately west of Sulphur Springs, and a 1,550 metres of diamond drilling targeting the Southern Hills area, located south of its Mons Cupri copper-lead-zinc sulphide deposit.

Venturex is currently capitalised at around $13 million.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 Dec 2013 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146987/venturex-resources-to-boost-cash-reserves-with-17-million-sale-of-hotel-western-australia--51476.html
<![CDATA[News - Venturex Resources drilling copper-zinc prospect in the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/146986/venturex-resources-drilling-copper-zinc-prospect-in-the-pilbara-51102.html Venturex Resources (ASX: VXR) has started diamond drilling of the greenfields Midway copper-zinc prospect in Western Australia’s Pilbara region.

The 1,350 metre program, which is co-funded by a $149,600 grant under the WA Government’s Exploration Incentive Scheme, will target an untested anomaly derived from a high-resolution HyMapper multispectral survey conducted by the CSIRO in 2002.

Analysis had indicated the Midway area has a similar alteration signature to the adjacent Sulphur Springs and Kangaroo Caves massive sulphide copper-zinc deposits.

Separately, the company has received a $150,000 grant under the EIS to drill new “blind” targets in the Southern Hills prospect within the Whim Creek Project in West Pilbara.

Southern Hills is located south of the Mons Cupri copper-lead-zinc sulphide deposit.

The 1,550 metre diamond drilling program will target an untested zone of combined ASTER and geochemical anomalism around a complex syn-volcanic fault system.

Previous diamond drilling in the adjacent Mons Cupri South West prospect in 2011 intersected an extensive zone of typical footwall alteration within the target Mons Cupri sequence with one drill hole intersecting fragments of preserved zinc-rich massive sulphide mineralisation.

The drilling program is anticipated to commence in the second quarter of 2014 following the receipt of the pre-requisite heritage and site approvals.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 12 Dec 2013 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146986/venturex-resources-drilling-copper-zinc-prospect-in-the-pilbara-51102.html
<![CDATA[News - Venturex Resources cash position swells following bond retirement ]]> https://www.proactiveinvestors.com.au/companies/news/146985/venturex-resources-cash-position-swells-following-bond-retirement-46519.html Venturex Resources (ASX: VXR) cash position will swell to a healthy $4.3 million following the company opting into the State Government’s new Mining Rehabilitation Fund.

This has resulted in the release of a $1.69 million bank-held security deposit, following the retirement of Environmental Performance Bonds covering the company’s tenements at Whim Creek in the Pilbara region of Western Australia.

The company financial position could further strengthen if non-core assets are disposed.

Venturex is now chased up to advance exploration in the Pilbara, with preparation underway for a three hold diamond drilling program at the new Midway prospect, located between the Sulphur Springs and Kangaroo Caves resource areas.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 08 Aug 2013 12:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146985/venturex-resources-cash-position-swells-following-bond-retirement-46519.html
<![CDATA[News - Venturex Resources confirms potential to extend zinc-copper mineralisation at Pilbara project ]]> https://www.proactiveinvestors.com.au/companies/news/146984/venturex-resources-confirms-potential-to-extend-zinc-copper-mineralisation-at-pilbara-project-44330.html Venturex Resources (ASX: VXR) has received further high grade zinc assays with peak results of up 10.35% from reverse circulation drilling at its Kangaroo Caves zinc-copper prospect in the Pilbara, Western Australia.

The intersections highlight potential to extend the Main Zone mineralisation both north and south of the existing resource zone.

Venturex added the results were encouraging for the future potential of the Kangaroo Caves deposit given its close proximity to the Sulphur Springs deposit.

Notable results from the remaining 11 holes in its drilling program include:

-    KRC012: 1 metre at 0.17% copper, 10.35% zinc, 0.14% lead, 13.2 grams per tonne silver and 0.03g/t gold;
-    KRC013 14 metres at 0.60% copper, 6.37% zinc, 0.48% lead, 19.3g/t silver and 0.08g/t gold; and
-    KRC019 8 metres at 0.10% copper, 8.37% zinc, 0.51% lead, 25.6g/t silver and 0.12g/t gold.

The company is now revising its geological model ahead of planning the next drilling program to test the areas along strike and at depth within the Kangaroo Caves mineralised system.

Kangaroo Caves is located about 7 kilometres southeast of the Sulphur Springs copper-zinc deposit.

The drilling was carried out as part of the company’s focus on increasing the existing Salt Creek, Evelyn and Kangaroo Caves resources in line with the decision to proceed with an enhancement program to optimise the scale and life of the proposed Pilbara copper-zinc project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 11 Jun 2013 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146984/venturex-resources-confirms-potential-to-extend-zinc-copper-mineralisation-at-pilbara-project-44330.html
<![CDATA[News - Venturex Resources intersects zinc, copper and lead in the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/146983/venturex-resources-intersects-zinc-copper-and-lead-in-the-pilbara-43427.html Venturex Resources (ASX: VXR) has intersected significant zones of disseminated and semi-massive zinc, copper and lead mineralisation from reverse circulation drilling at its Kangaroo Caves Prospect in the Pilbara, Western Australia.

Assays have been received for eight of the 19 holes drilled, three of which have returned high grade intersections of:

-    15 metres at 0.3% copper, 6.99% zinc, 0.21% lead, 31.5 grams per tonne silver and 0.12g/t gold;
-    6 metres at 0.62% copper, 9.30% zinc, 0.19% lead, 7.3g/t silver, 0.06g/t gold as well as 4 metres at 2.61% copper, 0.79% zinc, 0.19% lead, 2.8g/t silver and 0.02g/t gold; and
-    6 metres at 0.09% copper, 4.89% zinc, 0.09% lead, 5.1g/t silver, 0.02g/t gold as well as 5 metres at 3.97% copper, 0.15% zinc, 0.01% lead, 3.3g/t silver and 0.01g/t gold.

These confirm the complex geometry of the massive sulphide body and significantly the area of high grade copper mineralisation within the central part of the deposit.

The hole southern end of the prospect, while modest, have opened the potential to extend the Main Zone mineralisation to the south where the sequence appears to have been faulted down dip beyond the limits of the current mineralisation model.

Another hole extended the target horizon further to the north, intersecting minor disseminated sulphide mineralisation with anomalous copper and zinc values.

Assays for the remaining holes in the program are expected to be available over the next 2-3 weeks.

Work has commenced on revising the interpretation of the Kangaroo Caves resource model in preparation for the next drilling program.

Kangaroo Caves is located about 7 kilometres southeast of the Sulphur Springs copper-zinc deposit.

The drilling was carried out as part of the company’s focus on increasing the existing Salt Creek, Evelyn and Kangaroo Caves resources in line with the decision to proceed with an enhancement program to optimise the scale and life of the proposed Pilbara copper-zinc project.

 

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Fri, 17 May 2013 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146983/venturex-resources-intersects-zinc-copper-and-lead-in-the-pilbara-43427.html
<![CDATA[News - Venturex Resources to raise cash, ring in corporate changes ]]> https://www.proactiveinvestors.com.au/companies/news/146982/venturex-resources-to-raise-cash-ring-in-corporate-changes-42041.html Venturex Resources (ASX: VXR) is in pre-open following the ASX granting the company a trading halt today, with its shares placed in pre-open, pending details of a capital raising and corporate changes.

Venturex currently has base and precious metals exposure, with projects in Australia and Brazil.

Last month the company kicked off an exploration program at the Pilbara copper-zinc project targeting resources growth, with a 4,250 metre reverse circulation program underway at selected targets at Kangaroo Caves and Sulphur Springs.

A Feasibility Study has been completed for the Sulphur Springs Hub, with an Ore Reserve of 8.37 million tonnes at 1.8% copper, 4% zinc, 0.3% lead, 21g/t silver and a process rate of 1 million tonnes per annum for an average annual payable metal production of 16,500 tonnes of copper, 30,000 tonnes of zinc and 200,000 ounces of silver - for a 8.5 year mine life.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 17th April 2013.

 

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Mon, 15 Apr 2013 15:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146982/venturex-resources-to-raise-cash-ring-in-corporate-changes-42041.html
<![CDATA[News - Venturex Resources seeks debt funding for Pilbara Copper-Zinc Project ]]> https://www.proactiveinvestors.com.au/companies/news/146981/venturex-resources-seeks-debt-funding-for-pilbara-copper-zinc-project-38060.html Venturex Resources (ASX: VXR) has appointed Optimum Capital to help secure debt funding for the construction and development of the Pilbara Copper-Zinc Project in Western Australia.

Optimum has a strong track record of securing debt funding for junior and mid-tier resource companies.

Venturex had recently completed a Definitive Feasibility Study confirming the robust economics of its Pilbara Copper-Zinc Project.

This has found that the project could produce 16,500 tonnes of copper, 30,000 tonnes of silver and 200,000 ounces of silver per annum throughout the mine life of at least 8.5 years - based on the increased Ore Reserve of 8.37 million tonnes at 1.8% copper, 4% zinc and 21.5 grams per tonne silver.

Pre-production capital costs are estimated at about A$279 million while forecast earnings before interest, tax, depreciation and amortisation is A$548 million.

Earnings before interest and tax has also been estimated at about A$234 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 11 Jan 2013 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146981/venturex-resources-seeks-debt-funding-for-pilbara-copper-zinc-project-38060.html
<![CDATA[News - Venturex Resources’ DFS serves up robust economics for Pilbara Copper-Zinc Project ]]> https://www.proactiveinvestors.com.au/companies/news/146980/venturex-resources-dfs-serves-up-robust-economics-for-pilbara-copper-zinc-project-37450.html Venturex Resources (ASX: VXR) has completed a Definitive Feasibility Study confirming the robust economics of its Pilbara Copper-Zinc Project.

This has found that the project could produce 16,500 tonnes of copper, 30,000 tonnes of silver and 200,000 ounces of silver per annum throughout the mine life of at least 8.5 years - based on the increased Ore Reserve of 8.37 million tonnes at 1.8% copper, 4% zinc and 21.5 grams per tonne silver.

Pre-production capital costs are estimated at about A$279 million while forecast earnings before interest, tax, depreciation and amortisation is A$548 million.

Earnings before interest and tax has also been estimated at about A$234 million.

Venturex said the results confirm its decision to locate the project at Sulphur Springs, with 85% of the Ore Reserve drawn from the deposit there.

The DFS provides for all operations to be totally focused at the Sulphur Springs deposit for the first 6.5 years of the project before transitioning to a blended ore supply from the Whim Creek area in the later stages of the project.

Further upside is likely as the DFS incorporates only three of the six known mineral resources currently controlled by the company in the Pilbara region.

The proximity of the recently acquired Kangaroo Caves resource provides an excellent brownfields exploration target and potential future ore supply for the processing hub at Sulphur Springs.

Preliminary modelling indicates that the additional resources could produce a potential project life in excess of 11 years at the currently planned throughput rate.

Venturex has commenced work on the project approvals and the financing strategy for the Pilbara Copper-Zinc Project.

It is anticipated that the required Western Australia Government approval documentation will be completed and submitted in late February 2013, with Government project approvals are expected to be completed in mid-late 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 18 Dec 2012 16:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146980/venturex-resources-dfs-serves-up-robust-economics-for-pilbara-copper-zinc-project-37450.html
<![CDATA[News - Venturex Resources upgrades Sulphur Springs copper-zinc resource by 4% ]]> https://www.proactiveinvestors.com.au/companies/news/146979/venturex-resources-upgrades-sulphur-springs-copper-zinc-resource-by-4-36311.html Venturex Resources (ASX: VXR) has upgraded Resources at its Sulphur Springs copper-zinc deposit in the Pilbara region of Western Australia to 12.83 million tonnes at 1.5% copper and 4.1% zinc.

This is up from the previous 12.33Mt at 1.5% copper and 4.1% zinc and increases the total Mineral Resource for the Pilbara Copper-Zinc Project to 26.37Mt at 1.2% copper and 3.4% zinc.

The upgrade follows a recently completed reverse circulation drilling program at Sulphur Springs.

Drilling at the company’s Salt Creek Trend has also intersected a broad zone of footwall-style alteration with local zones of disseminated, and occasionally semi-massive1, sulphide mineralisation at the East Balla target.

The results confirmed that the sulphide mineralisation within the mineralised intervals is predominately iron sulphide with traces of copper and zinc mineralisation.

Assay results from reverse circulation drilling also highlighted a broad zone of anomalous copper, zinc and lead values consistent with stringer mineralisation in a peripheral footwall setting.

 

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Fri, 23 Nov 2012 12:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146979/venturex-resources-upgrades-sulphur-springs-copper-zinc-resource-by-4-36311.html
<![CDATA[News - Venturex Resources settles Pilbara mining lease acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/146978/venturex-resources-settles-pilbara-mining-lease-acquisition-36165.html Venturex Resources (ASX: VXR) has added scale to the company's footprint in the broader Sulphur Springs region in the Pilbara following the settlement of the Kangaroo Caves Mining Lease acquisition.

Consideration for the acquisition is the granting of an uncapped royalty of A$2.00 per dry metric tonne for any ore mined and processed from the Kangaroo Caves tenement.

The tenement was previously held by the Panorama Exploration Joint Venture, with partners CBH Panorama (60%) and Sipa Resources (ASX: SRI) (40%).

Kangaroo Caves currently has a resource of 6.3 million tonnes at 0.5% copper and 3.3% zinc, and it is anticipated that any ore mined from the deposit will form part of the future blended ore supply for the proposed processing facility at the Sulphur Springs site.

The deposit outcrops as a small gossan and is broadly characterised by an upper zinc-rich lens, generally overlying massive and stringer copper mineralisation. Dominant ore minerals are sphalerite and chalcopyrite, with varying amounts of pyrite.


Strong cash position

Venturex had $7.3 million in cash at the end of September 2012.

Venturex is also focused on Brazil, with the company holding a portfolio of projects targeting large gold deposits.

 

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Wed, 21 Nov 2012 09:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146978/venturex-resources-settles-pilbara-mining-lease-acquisition-36165.html
<![CDATA[News - Venturex Resources hits high grade gold in Brazil ]]> https://www.proactiveinvestors.com.au/companies/news/146977/venturex-resources-hits-high-grade-gold-in-brazil--34967.html Venturex Resources (ASX: VXR) has struck high grade gold in an initial diamond drilling program at the Dona Maria Prospect, part of the Nova Canaã Project, in central-northern Mato Grosso, Brazil.

The highlight intercept returned 8 metres at 15.3 grams per tonne (g/t) gold from 30 metres, including 3 metres at 36.53g/t gold.

The diamond drilling program at the Dona Maria Prospect, located in the northwest corner of the tenement, tested an area where previous trenching located a mineralised shear zone which assayed up to 6 metres at 9.9g/t gold.

The area is part of a consistent 3 kilometre geochemical gold anomaly coincident with interpreted regional structure and several quartz vein outcrops.

The host rocks, alteration and vein styles are very similar to those seen in the Tocantinzinho mineralised corridor in the Tapajós region located 450 kilometres to the north. 

All assays have now been received for the program and, following interpretation of these results, additional drilling will be planned to further test this zone of mineralisation and other areas within the 3 kilometre geochemical anomaly defined by auger sampling.


Major emerging gold region

Tapajós is the site of a major 1980s gold rush the produced 16 to 30 million ounces by garimpeiros.

There are several large discoveries in the region including the 2.5 million ounce Tocantinzinho and the 1.3 million ounce Cuiu Cuiu.

Large scale gold systems exist in magmatic arc settings, with the gold occurring within major north-northwest trending corridors.

Importantly, first drilling at Nova Canaã intersected gold mineralisation.


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Thu, 25 Oct 2012 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146977/venturex-resources-hits-high-grade-gold-in-brazil--34967.html
<![CDATA[News - Venturex Resources hits heights with zinc/copper hits in WA ]]> https://www.proactiveinvestors.com.au/companies/news/146976/venturex-resources-hits-heights-with-zinccopper-hits-in-wa-34639.html Venturex Resources (ASX: VXR) has unveiled substantive zinc and copper widths and high grades from drilling at the Sulphur Springs copper-zinc deposit in the Pilbara region of Western Australia.

Best results from RC drilling were: 11 metres at 19.44% zinc in Hanging Wall zone and 7 metres at 4.83% copper in Main Zone.

These are final assay results for the RC drilling program at Sulphur Springs, confirming high grade extensions to the Western Lens copper-zinc mineralisation at depth.

The company said it was 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.

Work has commenced on revising the Sulphur Springs resource model and the underground mine plan to incorporate the new results.

 

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Thu, 18 Oct 2012 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146976/venturex-resources-hits-heights-with-zinccopper-hits-in-wa-34639.html
<![CDATA[News - Venturex Resources works to add value to Pilbara Copper Zinc Project ]]> https://www.proactiveinvestors.com.au/companies/news/146975/venturex-resources-works-to-add-value-to-pilbara-copper-zinc-project-34201.html Venturex Resources (ASX: VXR) has extended the completion date on the Feasibility Study for its Pilbara Copper-Zinc Project in Western Australia to allow for changes from recent developments that could positively impact project economics and long term value.

While assays are still pending, the recent reverse circulation drilling completed at the Sulphur Springs deposit highlighted potential high grade extensions to the Western Lens copper-zinc mineralisation.

Revision of the Sulphur Springs resource model has indicated the probability of an expanded underground mine plan through the inclusion of extra levels in the Western Lens mine plan.

The mine design update is anticipated to impact on other areas of the project including the positioning of the paste fill infrastructure and tailings storage facilities.

The Feasibility Study is also assessing the inclusion of a dry filtered tailings placement system to provide long term environmental stability and operational flexibility within the rugged project terrain.

The Sulphur Springs deposit has a current Resource of 390,000 tonnes of copper equivalent. It is expected to be capable of producing 18,000 tonnes of copper and 30,000 tonnes of zinc.

 

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Fri, 05 Oct 2012 14:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146975/venturex-resources-works-to-add-value-to-pilbara-copper-zinc-project-34201.html
<![CDATA[News - Venturex Resources finds new sulphide mineralisation in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/146974/venturex-resources-finds-new-sulphide-mineralisation-in-western-australia-33692.html Venturex Resources (ASX: VXR) is encouraged by the discovery of new sulphide mineralisation at its East Bella prospect in Western Australia.

Six reverse circulation drill holes intersected a broad zone of footwall-style alteration with up to four metres of disseminated, and occasionally semi-massive, sulphide mineralisation.

Logging and preliminary Niton readings of the mineralised intervals indicates that the sulphide mineralisation is predominantly iron sulphide with traces of copper and zinc sulphide.

The system remains open in all directions and additional drilling will be planned for this area.

Diamond drilling at the Evelyn deposit has intersected narrow 0.5 metre zones of copper and zinc mineralisation.

These intervals are currently being sampled prior to being dispatched for assay.

This drilling has not fully explained the down hole geophysical anomalies and further drilling in the Liberty-Indee Joint Venture area will be planned following a further structural analysis and modelling of the area.

 

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Fri, 21 Sep 2012 15:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146974/venturex-resources-finds-new-sulphide-mineralisation-in-western-australia-33692.html
<![CDATA[News - Venturex Resources secures $11 million, new cornerstone investor, to support Pilbara FS ]]> https://www.proactiveinvestors.com.au/companies/news/146973/venturex-resources-secures-11-million-new-cornerstone-investor-to-support-pilbara-fs-29424.html Venturex Resources (ASX: VXR) has secured $11 million towards Feasibility work and expanded exploration programs, supported by the company’s new cornerstone investor, Northern Star Resources (ASX: NST).

The company has raised $6.5 million through a strategic 15% share placement to Northern Star, and is seeking a further $4.5 million through a 1 for 10 non-renounceable entitlement issue.

Importantly, the entitlement issue is fully underwritten by Northern Star.

The $11 million raising means Venturex is fully funded for the next 12 months, as the company moves towards a project development decision.

Funds raised will be put towards the completion of the Feasibility Study that is underway at Venturex’s Pilbara Copper Zinc Project in Western Australia, and exploration in the Pilbara and Brazil.

In addition to the raising, Venturex and Northern Star have signed a non-binding Memorandum of Understanding (MoU) to explore potential joint venture development options for the Pilbara project.

Northern Star sees the MoU as an opportunity to take an interest in a project with a high head-grade and high cash margins that can be brought into production in a reasonable time frame.

A joint venture between the two companies could assist with the development of a high grade copper-zinc operation at the Pilbara project, leveraging on the strength of each group and their combined presence in the mineral-rich region.

Capital raising terms

Northern Star’s 15% stake in Venturex was picked up at $0.04 per share, while the Entitlement Issue is being offered at $0.036 per share – an 18% discount to the company’s latest share price.

Following the placement, Northern Star will hold about 13% of the issued share capital of Venturex. Northern Star also intends to subscribe for its pro-rata entitlement under the Entitlement Issue.

Under the agreement, Northern Star Resources general manager – finance & commercial has joined the board of Venturex as a non-executive director.

Feasibility Study progresses

The Pilbara Copper Zinc Project Feasibility Study is based on development of a centralised processing facility at the existing Whim Creek mine site which will process material from two mining operations: an open pit at Whim Creek and a new underground mine at Sulphur Springs.

In April this year, Venturex revealed that the Sulphur Springs Hub can deliver robust economics, with the ability to deliver annual metal production of about 27,000 tonnes of copper equivalent at estimated cash costs of $1.15 per pound.

Venturex is also working to increase its resource development and exploration programs in conjunction with finalising the Feasibility Study.

These programs are primarily focused on targets in the Pilbara region, however will also include a maiden drilling program in the Tapajós region of Brazil.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 29 May 2012 11:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146973/venturex-resources-secures-11-million-new-cornerstone-investor-to-support-pilbara-fs-29424.html
<![CDATA[News - Venturex Resources shares in suspension ahead of capital raising, corporate transaction announcement ]]> https://www.proactiveinvestors.com.au/companies/news/146972/venturex-resources-shares-in-suspension-ahead-of-capital-raising-corporate-transaction-announcement-29378.html Venturex Resources (ASX: VXR) has entered into a Voluntary Suspension of its shares, pending the release of an announcement regarding a capital raising and corporate transaction.

The company has not given any indication of the nature of either the capital raising or the corporate transaction.

The suspension will be lifted on the release of the announcement, which is expected prior to the commencement of trading on Tuesday May 29, 2012.



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Mon, 28 May 2012 16:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146972/venturex-resources-shares-in-suspension-ahead-of-capital-raising-corporate-transaction-announcement-29378.html
<![CDATA[News - Venturex Resources in pre open ahead of capital raising, corporate transaction announcement ]]> https://www.proactiveinvestors.com.au/companies/news/146971/venturex-resources-in-pre-open-ahead-of-capital-raising-corporate-transaction-announcement-29254.html Venturex Resources has been granted a trading halt by the ASX pending an announcement relating to a capital raising and corporate transaction.

The company has not given any clues as to the nature of the raising or the transaction.

Venturex is in the process of finalising a Feasibility Study on its extensive assets in Western Australia’s Pilbara region.

Shares in Venturex will remain in pre open until the earlier of the release of an announcement to the market or the commencement of normal trading on Monday May 28.



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Thu, 24 May 2012 15:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146971/venturex-resources-in-pre-open-ahead-of-capital-raising-corporate-transaction-announcement-29254.html
<![CDATA[News - Venturex Resources boosts Sulphur Springs copper zinc Reserve by 45% to 5.7Mt ]]> https://www.proactiveinvestors.com.au/companies/news/146970/venturex-resources-boosts-sulphur-springs-copper-zinc-reserve-by-45-to-57mt-19224.html Venturex Resources (ASX: VXR) has increased the JORC copper zinc Reserve by 45% to 5.7 million tonnes after completing the first stage of mine design at the Sulphur Springs Deposit.

The upgrade represents a 25% increase in contained copper at the deposit which is a key part of the Pilbara VMS1 Copper-Zinc Project.

Relatively low mining costs and a higher than expected mining rate together with excellent metallurgy are all very positive for the project's Bankable Feasibility Study (BFS).

Tim Sugden, managing director, said “this is a significant increase in the Sulphur Springs Reserve, with further upside possible."

Sulphur Springs has a planned production rate 700,000-800,000 tonnes per annum and will be developed as a shallow underground mine.

Mining operating and capital costs will be completed during the BFS, which will include finalisation of the mine design, completion of the mining schedule and confirmation of cost drivers.

Subject to completion and approval of the BFS, the processing plant to be constructed at Whim Creek is expected to have an annual capacity of approximately 1.3 million tonnes, with up to 800,000 tonnes sourced from Sulphur Springs and up to 600,000 tonnes sourced from the Whim Creek open pits.

The company recently reported metallurgical test results for Sulphur Springs Copper-Zinc ore indicating 95% copper recovery to a clean concentrate grading 26.4% Cu with low lead and zinc values.

Also, a 90% zinc recovery to a clean concentrate grading 58.9% Zn with a low iron assay of 5.9% Fe was indicated.

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Fri, 02 Sep 2011 13:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146970/venturex-resources-boosts-sulphur-springs-copper-zinc-reserve-by-45-to-57mt-19224.html
<![CDATA[News - Venturex Resources makes transformative deal to acquire copper zinc project ]]> https://www.proactiveinvestors.com.au/companies/news/146969/venturex-resources-makes-transformative-deal-to-acquire-copper-zinc-project-13299.html Venturex Resources (ASX: VXR) has entered an agreement to acquire the Panorama Copper Zinc Project, transforming the company into a significant low-cost copper zinc (Cu-Zn) developer.

This is a potential company transformative transaction changing the dynamics of the company.

Venturez will acquire the project from CBH Resources (ASX: CBH) for $26.2 million cash and an accompanying zinc off-take agreement to Toho Zinc Co Ltd (TYO: 5707).

The deal will be funded through a A$36.8m capital raising comprising a share placement and a 2:5 fully underwritten non-renounceable accelerated entitlements issue.

The proceeds will also provide working capital to fast track a Definitive Feasibility Study of the combined projects.

The acquisition will utilise existing infrastructure to create a centralised processing hub at Whim Creek in the Pilbara region of Western Australia, enhancing the economics of the projects.

The Panorama Project is the largest known VMS deposit in the Pilbara, located 162km SE of Port Hedland.

It contains a JORC Mineral Resource of 19.3 million tonnes (Mt) at 1.2% Cu and 3.2% Zn, and previous feasibility studies have confirmed a high grade core amenable to large scale underground mining.

Total Resources, inclusive of existing Whim Creek Resources, have recently increased to 27Mt at 2.2% Cu EQ (>580,000t Cu EQ).

Venturex is targeting an annual production of 40,000t Zn and 16,000t Cu plus lead, silver and gold credits.

Consideration for the acquisition comprises:

- a deposit of A$750,000, which has been paid;
- a final completion payment of A$25.45m, subject to satisfaction of conditions precedent (including successful completion of the capital raising), by 1 March 2011, and;
- the grant of zinc off-take rights to Toho Zinc capped at 230,000t of zinc in zinc concentrate from Panorama (or Venturex’s other Pilbara Operations) on international benchmark terms.

Venturex intends to raise A$8.8 million via a private placement at 9 cents per share and $28.0 million via a fully underwritten accelerated 2:5  non-renounceable entitlement issue at 9 cents per share.

Under the entitlement issue, shareholders subscribe for 2 new VXR shares for every 5 VXR shares held at 9 cents.

The entitlements are non-renounceable and will not be tradeable on the ASX or otherwise transferable.

Argonaut Capital Limited is the lead manager, underwriter (entitlement issue only) and book runner.

Venturex’s largest Shareholder, Regent Pacific, has committed to take up its full entitlement and sub-underwrite a major portion of the entitlement issue.

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Fri, 21 Jan 2011 14:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146969/venturex-resources-makes-transformative-deal-to-acquire-copper-zinc-project-13299.html
<![CDATA[News - Venturex Resources in trading halt pending capital raising, acquisition announcement ]]> https://www.proactiveinvestors.com.au/companies/news/146968/venturex-resources-in-trading-halt-pending-capital-raising-acquisition-announcement-13084.html Perth-based Venturex Resources (ASX: VRX) has requested a trading halt pending release of an announcement about a capital raising and potential acquisition.

The halt will last until an announcement is made or commencement of trading on Tuesday 18th January 2011.

On December 16 Venturex hit a significant copper extension at the Mons Cupri Copper Zinc deposit, which is one of four deposits which form part of the company's wholly owned Pilbara VMS project in Western Australia.

In early 2011 Venturex will conduct further drilling, with the goal a new JORC resource estimate and re-optimisation of the open pits.

A mineral resource supports an initial mine life of nine years at a milling rate of 600,000 tonnes per annum.

This potentially would generate annual metal production of; 7,800 tonnes of copper, 13,900 tonnes of zinc and 4,200 tonnes of lead, with additional gold and silver credits.

Copper is currently trading just below record highs at US$4.34 per pound.

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Fri, 14 Jan 2011 16:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146968/venturex-resources-in-trading-halt-pending-capital-raising-acquisition-announcement-13084.html
<![CDATA[News - Venturex Resources identifies copper zone extension at Mons Cupri in Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/146967/venturex-resources-identifies-copper-zone-extension-at-mons-cupri-in-pilbara-12614.html A significant copper extension has been hit at the Venturex Resources (ASX: VXR) Mons Cupri Copper Zinc deposit, which is one of for deposits which form part of the company's wholly owned Pilbara VMS project in Western Australia.

Reverse circulation drilling intersected; 10 metres at 1.15% copper & 0.44% zinc from 38 metres, located 100 metres north of the Mons Cupri deposit.

Venturex said this new discovery provides potential for an expansion of open pit resources.

In early 2011 Venturex will conduct further drilling, with the goal a new JORC resource estimate and re-optimisation of the open pits.

A mineral resource supports an initial mine life of nine years at a milling rate of 600,000 tonnes per annum.

This potentially would generate annual metal production of; 7,800 tonnes of copper, 13,900 tonnes of zinc and 4,200 tonnes of lead, with additional gold and silver credits.

 

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Thu, 16 Dec 2010 09:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146967/venturex-resources-identifies-copper-zone-extension-at-mons-cupri-in-pilbara-12614.html
<![CDATA[News - Venturex Resources' Pilbara VMS project boasts cash copper costs of US$0.50 per pound ]]> https://www.proactiveinvestors.com.au/companies/news/146966/venturex-resources-pilbara-vms-project-boasts-cash-copper-costs-of-us050-per-pound-12066.html A scoping study by Snowdens of Venturex Resources' (ASX: VXR) Pilbara VMS copper project has found the project to have robust project economics and profitable at current commodity prices based on a centrally located copper-zinc-lead (silver-gold) production facility centred on the existing Whim Creek mine site sourcing ore from multiple deposits.

With a C1 cash cost of US$0.50 cents per pound, ranking the Pilbara VMS project among the lower percentile copper producers after credits if developed, and annual operating cash flow of estimated at $40 million with production aimed at mid-2012, Venturex will move to a definitive feasibility study to be completed by Q4 2011.

Total pre-production capital is estimated at $95.8 million which includes the construction of a new milling and flotation circuit together with concentrate handling facilities.

Crushing and key infrastructure facilities, including accommodation, site access, haul roads and water supply, are already in place at the Whim Creek site.

The study is based on an existing mineral resource of 4.5 million tonnes at 2.7% copper and an initial mine life of nine years, without requiring future exploration success.

Average annual metal production is forecast at; 7,800 tonnes of copper, 13,900 tonnes of zinc and 4,200 tonnes lead, significant gold and silver credits.

The study is based a mineral resource of; 7.6 million tonnes grading 2.2% copper equivalent, with production is forecast in mid-2010.

The project appears particularly attractive at current strong metal prices, with Venturex looking to progress the project quickly.

Tim Sugden managing director of Venturex said, “The key takeaways from this study are that the project, which will comprise several open pit operations with some limited underground mining feeding a centrally located polymetallic treatment facility, can deliver annual metal production of approximately 13,000 tonnes copper equivalent at a very competitive C1 cash operating cost of US$0.45 cents per pound."

 

Article highlight:

The Pilbara VMS Project would seem to tick a number of boxes based on a scoping study by Snowdens with a robust IRR, CAPEX of $95.8m and low cash costs after credits and a mine life of nine years.

 

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Fri, 26 Nov 2010 16:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146966/venturex-resources-pilbara-vms-project-boasts-cash-copper-costs-of-us050-per-pound-12066.html
<![CDATA[News - Venturex Resources acquires high grade gold projects in Brazil, now controls 92,500h ]]> https://www.proactiveinvestors.com.au/companies/news/146965/venturex-resources-acquires-high-grade-gold-projects-in-brazil-now-controls-92500h-11867.html Venturex (ASX: VXR) will now control five gold exploration projects in the states of Para and Mato Grosso covering a total area of 92,500 hectares, with the acquisition of a contiguous land package with a total area of 19,700 hectares, with mineralised structures up to three kilometres in strike length.

The acquisition of the Serra Verde Project was made through its 100% owned subsidiary, CMG Mineração Limitada, located in the Western Tapajós Gold Province in the State of Para in Brazil.

The consideration to João Batista da Silva Ferreira will be:

- A total cost of cash payments over four years of BRL$925,000, comprised of BRL$250,000 in Year 1, followed by equal instalments of BRL$225,000 in Years 2-4;
- Payment on mining approval of BRL$2 million; and
- A production royalty of 1.5%.

After the second year the remaining instalments can be paid out at no additional cost.

The new acquisition is considered prospective due to similar mineralisation to the 2 million gold ounce Tocantinzinho discovery, located 120km to the northeast.

Of 91 bedrock samples assayed, 29 values exceeded 1g/t gold and 10 exceeded 31.1g/t gold, with the highest grade returned to date being 254g/t gold.

 

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Fri, 19 Nov 2010 15:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146965/venturex-resources-acquires-high-grade-gold-projects-in-brazil-now-controls-92500h-11867.html
<![CDATA[News - Venturex Resources latest resource upgrade underpins Pilbara VMS Project ]]> https://www.proactiveinvestors.com.au/companies/news/146964/venturex-resources-latest-resource-upgrade-underpins-pilbara-vms-project-10445.html Venturex Resources' (ASX: VXR) revised new resource estimate the Mons Cupri and Whim Creek Deposits has been boosted to 5.97Mt @ 1.64% Cu equivalent.

This moves the project a step closer to the Scoping Study due next quarter.

The Scoping Study is targeting a milling rate of 600,000 tonnes per annum for an initial Life of Mine Plan of approximately eight years.

There has also been a 54% increase in contained copper equivalent metal.

The combined open pit ore reserve has increased to 3.47Mt @ 2.2% Cu Eq.

Whim Creek is one of four VMS deposits in the project area and located just 3km from a proposed central processing facility.

The facility is to be developed as the foundation for a long-term copper-zinc operation, with a targeted capacity of at least 600,000tpa.

Venturex said further mineral resource and ore reserve revisions are imminent for nearby Salt Creek and Evelyn deposits.

Drilling will commence shortly at Mons Cupri Northwest targeting extensions of sulphide zones.

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Thu, 30 Sep 2010 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146964/venturex-resources-latest-resource-upgrade-underpins-pilbara-vms-project-10445.html
<![CDATA[News - Venturex Resources reports 63% boost at Mons Cupri project ]]> https://www.proactiveinvestors.com.au/companies/news/146963/venturex-resources-reports-63-boost-at-mons-cupri-project-9907.html 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.

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Thu, 09 Sep 2010 11:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146963/venturex-resources-reports-63-boost-at-mons-cupri-project-9907.html
<![CDATA[News - Venturex Resources to upgrade Pilbara VMS Resource on drill results ]]> https://www.proactiveinvestors.com.au/companies/news/146962/venturex-resources-to-upgrade-pilbara-vms-resource-on-drill-results-9410.html Venturex Resources (ASX: VXR) is preparing a revised JORC compliant Mineral Resource for the key Mons Cupri base metals deposit, part of its Pilbara Volcanogenic Massive Sulphide (VMS) Project, after receiving high-grade results extending the sulphide zone.

Substantial grades and widths of copper-gold mineralisation were returned from the drilling, which has extended the upper high-grade massive sulphide zone further to the north and remains open, potentially increasing the scale of an open pit cut-back.

The fresh high-grade results highlight the potential of Mons Cupri to underpin a substantial copper-zinc-silver-gold development and include:

- 13m @ 2.8% Cu and 2.6% Zn (MCR010)
- 43m @ 1.0% Cu, 3.0% Zn and 87g/t Ag, including: 8m @ 4.2% Cu, 5.7% Zn, 256g/t Ag and 0.91g/t Au (MCR012)
- 30m @ 2.1% Cu and 1.0% Zn (MCR013)
- 27m @ 2.8% Cu, 1.2% Zn, 76.3g/t Ag and 0.4g/t Au (MCR014)

Mons Cupri is one of two key VMS deposits within the central area of the Pilbara VMS Project which are expected to form the basis for the company’s plans to develop the sulphide base metal resources in this region.

Revised JORC resource estimates are also currently being prepared for the nearby Whim Creek deposit as well as the Salt Creek deposit, which is located approximately 15km to the north-west.

The new RC results for Mons Cupri are notable for the unusually high silver grades (MCR012: 8 metres @ 256.3g/t Ag with strong copper, zinc and lead mineralisation) in the upper massive sulphide zone.

This zone remains open to the north and may link with high grade sulphide mineralisation intersected in the Mons Cupri Northwest pit area, 300 metres to the north.

Further to the south, hole MCR015 intersected 30 metres @ 2.1% Cu, confirming the continuity of high grade copper mineralisation intersected by diamond hole MCD001 (39.4 metres @ 2.8% Cu).

MCR015 also intersected a broad zone of low grade zinc mineralisation (42 metres @ 2.4% Zn, 0.4% Pb and 0.45g/t Au), which is likely to be contained within an optimised pit shell.

Tim Sugden, managing director, said the new drilling results will be incorporated into the revised JORC Mineral Resource for Mons Cupri, which is expected to be finalised shortly, and will underpin a Scoping Study due for completion in October 2010.

Further exploration work is underway on other VMS targets, including on 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.

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Tue, 17 Aug 2010 12:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146962/venturex-resources-to-upgrade-pilbara-vms-resource-on-drill-results-9410.html
<![CDATA[News - Venturex Resources hits 'spectacular' zinc lead grades at Salt Creek ]]> https://www.proactiveinvestors.com.au/companies/news/146961/venturex-resources-hits-spectacular-zinc-lead-grades-at-salt-creek-8295.html Perth-based Venturex Resources (ASX: VXR) has reported that resource definition drilling at Salt Creek, part of the Pilbara Volcanogenic Massive Sulphide (VMS) Project, has intersected very high grade zinc-lead-silver mineralisation.

In the eastern massive sulphide lens, diamond hole SCD005 intersected 3.45 metres @ 49.2% Zn, 7.1% Pb, 327g/t Ag and 4.1g/t Au and SCD009 intersected 4.75 metres @ 47.8% Zn, 8.7% Pb, 294g/t Ag and 0.9g/t Au.

The true width of the sub-vertical massive lens is estimated to range from 2 to 3 metres.

In the western massive sulphide lens, diamond hole SCD002 intersected 12.8 metres @ 8.8% Zn, 4.7% Pb, 76g/t Ag and 0.5g/t Au. The intersection confirms continuity of massive sulphide mineralisation in the upper part of the lens.

Tim Sugden, managing director, said the results confirm continuity of very high grade mineralisation in the main zinc-lead-silver lenses at Salt Creek and support the potential for selective narrow veinunderground mining. A revised estimate of a high grade zinc-lead-silver will be determined to JORC standard.

The company said Indium grades are also significant in the massive sulphide zones, including 3.45m @ 223g/t in SCD005 and 4.75m @ 69g/t in SCD009.

Due to growing demand for indium in liquid crystal displays and thin-film solar technology, the price of indium has increased substantially in the last 5 years and now trades at approximately US$600/kg after reaching a high of US$1,000/kg in 2006.

Flotation recovery of indium to zinc and lead concentrates is yet to be determined. Smelters and refiners may pay a premium for concentrates containing indium above a threshold value.

Venturex said the RC and diamond drilling program will continue targeting an extensive list of exploration opportunities within the broader Whim Creek and Liberty-Indee VMS provinces
including the delineation of high grade Cu-Au mineralisation at Mons Cupri.

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Wed, 30 Jun 2010 13:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146961/venturex-resources-hits-spectacular-zinc-lead-grades-at-salt-creek-8295.html
<![CDATA[News - Venturex Resources hits copper mineralisation at Whim Creek ]]> https://www.proactiveinvestors.com.au/companies/news/146960/venturex-resources-hits-copper-mineralisation-at-whim-creek-8108.html Venturex Resources (ASX: VXR) has reported that resource definition drilling at Mons Cupri, part of the Pilbara Volcanogenic Massive Sulphide (VMS) Project in Western Australia, has continued to intersect substantial widths of copper mineralisation, along with zones of zinc, lead, silver and gold mineralisation.

Intersections in holes MCR004 (12 metres @ 0.9% Cu) and MCR006 (39 metres @ 1.9% Cu and 1.17g/t Au) have expanded the main zone of copper mineralisation to the southwest.

Gold grades are significant in this newly defined extension, including 9 metres @ 4.14g/t Au in MCR006.

MCR005 intersected 63 metres @ 1.9% Cu, including a significant lower zone of chalcopyrite stringer mineralisation. The true width of the ore zone is interpreted to be approximately 30 metres.

The new results have improved the width and continuity of copper mineralisation in the central part of the Mons Cupri VMS lens. Further full assay results are pending.

Tim Sugden, managing director, said the results from the ongoing drilling program will be progressively reported over the coming weeks and will be incorporated into revised estimations of the Mons Cupri high grade mineral resources to JORC standard.

The company said the RC and diamond drilling program will continue targeting an extensive list of exploration opportunities within the broader Whim Creek and Liberty‐Indee VMS provinces including the following:

- Depth extensions of high grade Zn‐Pb mineralisation located at Salt Creek
- Testing for depth extensions of the known copper lenses at Salt Creek
- Targeting the lateral and depth extensions of the Balla Balla VMS lens (Salt Creek
trend)
- Untested geochemical and geophysical anomalies in the broader Salt Creek VMS
Belt

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Wed, 23 Jun 2010 13:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146960/venturex-resources-hits-copper-mineralisation-at-whim-creek-8108.html
<![CDATA[News - Venturex Resources hits high grade zinc-lead mineralisation in WA ]]> https://www.proactiveinvestors.com.au/companies/news/146959/venturex-resources-hits-high-grade-zinc-lead-mineralisation-in-wa-6617.html Venturex Resources has commenced an RC and diamond drilling program at the Whim Creek and Salt Creek Volcanogenic Massive Sulphide (VMS) Projects located in the Western Pilbara, Western Australia.

The primary aim of the drilling program is to validate and expand the high grade parts of known Cu-Zn-Pb-Ag-Au resources and initially test a number of new exploration targets.

The first phase of diamond drilling is focused on the Salt Creek Project, located approximately 17kms northwest of Whim Creek.

Salt Creek East Hole SCD005 intersected 3.5 metres of massive sulphide (predominantly sphaleritegalena) mineralisation.

Preliminary grade estimates using a Niton® XL3t 700 X-ray Fluorescence quantitative micro-analyser range up to 55% Zn and 8.8% Pb.

Both the intersected grade and thickness (estimated true width approximately 2.75 metres) exceed expectations and confirm the potential to delineate a discrete, high grade massive sulphide lens in this part of the Salt Creek VMS system.

At Salt Creek West Hole SCD002 intersected several zones of massive and disseminated sulphide,
including 4.4 metres of strong sulphide (121—133.8m) mineralisation from 127 metres with preliminary Niton® Zn grades of up to 42% Zn and 17% Pb.

The Niton® analyser has also detected high silver values in the hundreds of parts per million range.

The RC and diamond drilling program will continue targeting an extensive list of exploration opportunities within the broader Whim Creek and Liberty-Indee VMS provinces.

Full assay results for the reported intersections are pending. The results from the ongoing drilling program will be progressively reported over the coming weeks and will be incorporated into revised estimations of Project’s high grade mineral resources to JORC standard.

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Wed, 21 Apr 2010 11:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146959/venturex-resources-hits-high-grade-zinc-lead-mineralisation-in-wa-6617.html
<![CDATA[News - Venturex Resources to target high‐grade copper‐zinc resources at Whim Creek ]]> https://www.proactiveinvestors.com.au/companies/news/146958/venturex-resources-to-target-highgrade-copperzinc-resources-at-whim-creek-4484.html Multi-commodity mineral explorer Venturex Resources (ASX: VXR) has outlined its plans to develop a high-grade Volcanic Hosted Massive Sulphide resource, following a review of geological data from Whim Creek in Western Australia.

In a statement, Managing Director Tim Sugden said initial work would focus on re‐evaluation of high grade zones within known ore systems.

A 5,000m RC and diamond drilling program, expected to start in March 2010, will target extensions of high grade zones.

During the afternoon trade, shares in the company increased almost 10% to 8c.

Key targets include Mons Cupri – a sheet of massive and stringer sulphide with drill intersections of up to 23m @ 3.7% Cu#; Mons Cupri Northwest – a zone of massive sulphide with a drill intersection of 5.7m @ 7.4% Zn, 2.4% Pb and 1.5% Cu and Whim Creek – massive and stringer sulphides with intersections of up to 19m @ 3.8% Cu.

At Salt Creek, high grade lenses of massive sulphide with numerous high grade intersections, including 20m @ 16.8% Zn, 6.9% Pb and 180g/t Ag

This is the largest known sulphide resource in the Whim Creek mining camp. Within the mineralised envelope there are a number of higher grade massive sulphides and stinger sulphide zones that have potential to provide substantial zones of high grade ore.

Higher grade zones generally form contiguous sheets of massive zinc‐lead sulphide, with underlying zones of “stringer” copper sulphide.

A continuous zone of high grade sulphide located down‐dip and to the west of the Mons Cupri oxide open pit provides an immediate opportunity for a near‐surface high grade resource, amenable to open pit mining.

Significant zinc, lead and copper mineralisation (including WMD060: 5.7m @ 7.4% Zn, 2.4% Pb and 1.4% Cu) has been intersected at relatively shallow depths directly west of the Mons Cupri Northwest pit.

These zones are outside existing resource estimates. Further exploration will target down dip extensions of zinc‐lead mineralisation and footwall zones of stringer copper mineralisation.

Copper‐dominant massive sulphide mineralisation extends below and to the south of the Whim Creek oxide pit.

Stringer copper sulphide mineralisation also occurs in the footwall and is largely untested. The Company will reevaluate high grade sulphide mineralisation and design a drill program to confirm and extend known resources.

Salt Creek is the largest known VMS deposit in the Salt Creek Belt, approximately 17km north of Whim Creek. It consists of a pair of south‐east plunging ribbon‐like shoots of zinc and copper‐zinc massive sulphides. As previously reported (ASX announcement 20 August 2009), total JORC sulphide resources at Salt Creek amount to 1.83 million tonnes @ 1.4% Cu, 3.8% Zn and 1.2% Pb.

This includes a higher grade zinc‐lead component of 846,000 tonnes @ 7.7% Zn, 2.4% Pb, 90g/t Ag and a higher grade copper component of 1.02 million tonnes @ 2.0%. As indicated in the Salt Creek cross‐section, zones of high grade mineralisation are well developed.

Venturex intends to remodel the resource using a higher grade envelope, and identify lateral and depth extensions of favourable shoots.

Mr Sugden said the company was confident that the proposed drilling programs at the high priority targets will quickly add to existing resources.

"Additional drill‐ready VMS targets are clearly apparent at the Whim Creek Project," Mr Sugden said.

"Venturex is currently designing additional drill programs at Balla Balla (targeting a maiden zinc resource), and follow‐up drilling at Evelyn and Quarmby (Liberty‐Indee)."

Future announcements will detail specific work plans at these prospects.

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Mon, 25 Jan 2010 12:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146958/venturex-resources-to-target-highgrade-copperzinc-resources-at-whim-creek-4484.html
<![CDATA[News - VentureX Resources strikes more high grade copper-gold-zinc at Liberty-Indee in Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/146957/venturex-resources-strikes-more-high-grade-copper-gold-zinc-at-liberty-indee-in-pilbara-1904.html Investors in VentureX Resources (ASX: VXR) would feel mightily chuffed this morning - with the high grade Copper-Zinc-Silver-Gold Intersections encountered at Liberty-Indee Project in the Pilbara, Western Australia.

Assays of massive sulphides intersected at the Evelyn Prospect, (70% Venturex) included:

- 20m @ 3.43% Cu, 6.47% Zn, 65g/t Ag, 1.73g/t Au
- 17m @ 4.16% Cu, 8.7% Zn, 66g/t Ag, 1.03g/t Au
- 15m @ 2.37% Cu, 3.75% Zn, 45g/t Ag, 0.84g/t Au

Drilling has confirmed a high grade lens of mineralisation at least 240 metres in strike length with a true width of up to 16 metres. Importantly, the massive sulphide lens is interpreted to plunge to the north and is open at depth.

However, these results combined with previously identified massive sulphide lens to the north, take the total strike length of economically significant mineralisation to now approximately 400 metres.

Importantly for shareholders, all mineralisation intersected to date is located within 130 metres of surface and likely to be amenable to open pit mining.

The next phase of drilling, expected to commence in August 2009, will focus on depth extensions of known lenses, exploration for additional lenses (particularly south of JER042), and untested gossans, workings and VTEM anomalies located on the interpreted VMS horizon.

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Mon, 06 Jul 2009 07:59:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146957/venturex-resources-strikes-more-high-grade-copper-gold-zinc-at-liberty-indee-in-pilbara-1904.html
<![CDATA[News - Venturex Limited finds new massive sulphide zone at Liberty-Indee ]]> https://www.proactiveinvestors.com.au/companies/news/146956/venturex-limited-finds-new-massive-sulphide-zone-at-liberty-indee-1673.html Reverse circulation (RC) drilling  by VentureX Ltd (ASX: VXR) at the Liberty-Indee Project, located in the Pilbara Region of Western Australia, has intersected significant thicknesses (up to 20m down hole) of massive sulphide mineralisation.

Significant Logged intersections are as follows:

Hole JER044: Easting: 587882 Northing: 7666900 Dip: -60 Azimuth: 130 From: 61.0 To: 81.0 Width
JER046 587875 7666865 -60 130 37.5 53.0 15.5 13.0

The drilling has delineated a lens of mineralisation at least 200 metres in strike length, up to 50 metres wide and up to 17 metres thick. As indicated on the long-section, the massive sulphide lens is interpreted to plunge shallowly to the north and is open at depth.

The Liberty-Indee Project is located 50km south of Whim Creek in the Pilbara region of Western Australia. A regional mapping program has identified that the mineralisation located at Evelyn is part of a bi-modal volcanic sequence similar in character to many classic volcanic-associated massive sulphide (VMS) settings. The prospective VMS-host stratigraphy has now been traced over 12 strike kilometres and several mapped gossans and VTEM anomalies have been identified along its length.

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Tue, 09 Jun 2009 11:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146956/venturex-limited-finds-new-massive-sulphide-zone-at-liberty-indee-1673.html
<![CDATA[News - Venturex Resources in takeover offer for unlisted CMG Gold ]]> https://www.proactiveinvestors.com.au/companies/news/146955/venturex-resources-in-takeover-offer-for-unlisted-cmg-gold-1165.html Venturex Resources (ASX:VXR) has made an off-market scrip offer for all the issued capital in unlisted public company CMG Gold Limited (“CMG”).

CMG, through its subsidiary, CMG Mineracao Limitada (“CMGM”), has acquired or is in the process of acquiring four ready-to-drill gold projects in Mato Grosso State, Brazil.

The Board of CMG has unanimously recommended that CMG Shareholders accept the Takeover Offer and have committed to enter into pre-bid acceptance agreements with Venturex over 19.9% of the issued capital of CMG.

Venturex Managing Director Dr Tim Sugden said, “We are pleased to have the opportunity to acquire such high calibre gold projects. All have drill ready targets and we believe there is very good potential for mineable gold resources. An established exploration team in Mato Grosso will ensure that exploration and development work is pursued in a timely and professional manner.”

Dr Sugden also said that this transaction is an important step in the Company building a gold exploration and development portfolio, to complement existing base metals assets.

The consideration offered by Venturex under the Takeover Offer will be five (5) Venturex shares for each CMG share to be issued in two milestone-based tranches:

- 75% of the consideration (being 3.75 Venturex shares for each CMG share) when the Takeover Offer becomes unconditional and
- 25% of the consideration (being 1.25 Venturex shares for each CMG share) to be issued within 14 days after St Elina or another project in Brazil which has similar or greater economic potential to St Elina) is controlled by Venturex

CMG’s geological team, led by Mr Carl Swensson (previously Normandy Mining Limited’s Chief Geologist – Exploration), has identified and negotiated acquisition of five high quality gold projects in three established gold districts in Mato Grosso.

The projects are located in some of Brazil’s premier gold districts and were selected on the basis that they are ready to drill and, should resources of appropriate scale and tenor be established, development and production can be pursued without significant impediment.

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Fri, 03 Apr 2009 11:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146955/venturex-resources-in-takeover-offer-for-unlisted-cmg-gold-1165.html