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Venturex Resources bags $4M to advance Sulphur Springs Copper-Zinc Project

The company has received support from new institutional and sophisticated investors.

map of Western Australia
Recent drilling intersected zinc mineralisation

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.

Quick facts: Venturex Resources Ltd

Price: 0.064 AUD

ASX:VXR
Market: ASX
Market Cap: $18.12 m
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