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  • Ventnor Resources Inks Maiden JORC Resource At Thaduna/Green Dragon Copper Project 0 comments
    Oct 30, 2012 8:49 PM

    Base metals company, Ventnor Resources (ASX:VRX), has inked a maiden JORC resource estimate of 101,413 tonnes of contained copper for its Thaduna/Green Dragon Copper project located north of Meekatharra, Western Australia.

    The estimation was undertaken by Cube Consulting.

    A total Indicated and Inferred Resource of 6.33 Mt at 1.60% copper and 2.77 g/t silver for 101,413 tonnes of contained copper and 563koz of silver has been estimated for both deposits at a nominal 0.5% cut off grade.

    Ventnor Resources managing director Bruce Maluish said, "This is a milestone event for the project and will allow the company to progress to a scoping study for the open cut potential of this Resource."

    "We have completed in excess of 38,000 metres of drilling on the project since listing last February and the bulk of this drilling has contributed to the Resource estimate", he said.

    In addition to the drilling included in this resource there are 10 more diamond holes awaiting assays, or to be drilled, at Thaduna and 2 diamond holes at Green Dragon awaiting assays.

    The company will also commence the drilling of 2 deep diamond holes targeting possible depth extensions.

    Significantly, a Resource upgrade is already in the offing in early 2013 which would increase today's maiden resource to incorporate this extra drilling.

    Background to JORC Resource estimate

    Added to the Cube estimated resource is some of historic stockpiled material which remains from the open cut mining operation which concluded in 1971.

    The estimate is based on an estimate by Barrack Mines Ltd who in November 1989 conducted RC drilling, grab sampling and auger drilling over the various stockpiles at Thaduna to estimate the summary included in the Resource.


    A total of 136 RC and Diamond holes have been used in the Resource estimation for the Thaduna deposit. Six wireframe domains were created to constrain the mineralisation which has a total drilled strike length of 1,650 metres to a maximum vertical depth of 360 metres.

    Green Dragon

    A total of 70 RC holes have been used in the Resource estimation for the Green Dragon deposit. Eight wireframe domains were created to constrain the mineralisation which has a total drilled strike of 500 metres to a maximum vertical depth of 220 metres

    Resource Estimation Summary - Thaduna and Green Dragon

    The resource estimate is based on a compilation of 303 Reverse Circulation drill holes completed to date by Ventnor Resources Ltd. Of these drill holes, 208 belong to the Thaduna Deposit (of which 49 have Diamond tails) and 95 belong to the Green Dragon Deposit (of which 2 have Diamond tails).

    An additional Diamond drill hole was also completed on the Green Dragon Deposit from the surface.


    This is a significant day for Ventnor Resources with a copper resource of over 100,000 tonnes of contained copper at Thaduna/Green Dragon.

    As importantly, there are "triggers" for a stock re-rating for Ventnor due to recent and current drilling and assays not yet included in this resource that are likely to be announced in early 2013.

    Further catalysts include: progression to a Scoping Study to determine the open cut potential of this Resource.

    Proactive Investors can see momentum re-building, with drilling as well as milestone progression and share price growth back to $0.60-$0.75.

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