Proactive Investor's  Instablog

Ventnor Resources (ASX: VRX) is continuing to pursue its goal of delivering a maiden JORC Resource for the Thaduna/Green Dragon Copper Project in the September quarter of 2012.

So far this year, the company has drilled 34 reverse circulation holes for 6,302 metres and 23 diamond tails for 2,877 metres.

A further 4,000 metres of drilling remain for Ventnor to complete Phase 4 drilling at the project.

The first three phases of drilling at the project were successful in identifying potentially economic, open pittable copper mineralisation at two prospects.

Bruce Maluish, managing director of Ventnor, commented on the progress, saying, "The extra drilling was undertaken to follow up intersections outside, along strike and down dip of the estimated mineralisation in January 2012."

Following the receipt of results from Phase 4 drilling, Ventnor will be able to define a JORC Resource at the project.

Importantly, with cash reserves of $4.9 million at the end of the March quarter, Ventnor has sufficient funding to complete the Phase 4 drilling program and resource estimation.

The 700 metre long, 80 metre wide Thaduna Copper Mine is located about 40 kilometres east of Sandfire Resources' (ASX: SFR) DeGrussa Project, which hosts 14.6 million tonnes at 4.6% copper and 1.6 grams per tonne gold.

Thaduna can be accessed from the Great Norhtern Highway by a dirt road for approximately 35 kilometres and then by tracks for a further 12 kilometres.

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