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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