Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Ventnor Resources' Fires Up Drilling At Thaduna/Green Dragon 0 comments
    Jan 21, 2013 11:55 PM

    Ventnor Resources (ASX: VRX) is back drilling at the highly prospective Thaduna/Green Dragon Copper Project in Western Australia following the break over Christmas, with the company targeting a high grade shoot identified in drilling from the December quarter 2012.

    The initial program of seven holes comprising 4,000 metres is expected to take 7-8 weeks to complete. Pads were prepared prior to the Christmas break and the drill rig has commenced the first hole.

    At the end of 2012 work commenced on an updated resource model for the Thaduna deposit, which is expected to be announced to be released in early March quarter 2013.

    Drilling to date at Thaduna comprises 221 reverse circulation holes for 29,149 metres with 65 diamond holes or tails for 13,949 metres, totaling 43,098 metres.

    Bruce Maluish, managing director of Ventnor, said the drill program will follow up the high grade results reported in the previous quarter.

    "We are able to confidently plan these holes now based on our understanding of the structural controls identified in the drilling to date.

    "Our expectations are for a continuation of the high grade shoot down plunge. Drilling has recommenced with an initial seven-hole program which may be extended subject to the mineralisation we intersect."

    The project is strategically located in the renowned Doolgunna district, 170 kilometres north of Meekatharra and 40 kilometres east of Sandfire Resources' (ASX: SFR) DeGrussa project.

    Late 2012 highlights

    In December 2012 Ventnor announced the results of THRC220, which returned 9.16 metres at 8.57% copper and 27.2g/t silver from a predominantly bornite rich intersection with chalcocite overprinting of the bornite.

    The picture (above) highlights the current long section which shows the intersection in THRC220 and the seven proposed diamond drill holes spaced 80 metres by 80 metres across the projected high grade shoot extension.

    Included on the longsection are three diamond holes, THDD222, 223 and 224 which were drilled just prior to the Christmas break and we are awaiting assays.

    A Fixed Loop EM survey was conducted down holes drilled adjacent to the interpreted DHEM conductor to better locate the anomaly. A drill hole is planned to be targeted at the conductor and will be undertaken this quarter.

    Thaduna updated resource model pending

    At the end of 2012 work commenced on an updated resource model for the Thaduna deposit, with assays still with the laboratory, but it is anticipated the updated Resource will be completed early in the March quarter 2013.

    The resource will include holes drilled late 2012 with outstanding assays and extend the Resource to 450 metres vertically below the surface.

    Ventnor inked a maiden JORC resource estimate of 101,413 tonnes of contained copper for its Thaduna/Green Dragon Copper project in October 2012.

    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.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.