Ventnor Resources (ASX: VRX) has delivered some more impressive near-surface copper intersections at the Thaduna/Green Dragon Project in Western Australia, with the latest results not only high grade, but broad.
Drilling to date at Thaduna comprises 221 reverse circulation holes for 29,041 metres with 79 diamond tails for 20,485 metres, totaling 49,526 metres.
Highlights from within the optimised pit area at southern end of Thaduna deposit included: THDD234 19.0 metres at 4.12% copper and 19.4 g/t silver from 98 metres down hole, including 8.0 metres at 8.62% copper and 42.2g/t silver.
The results are the first from a campaign of four diamond drill holes aimed at providing core for testwork on the Thaduna waste and ore at around 80 metres depth, and we be included in the JORC Resource upgrade later this year.
Bruce Maluish, managing director, commented: "This intersection is within the southern area of the Thaduna optimised pit shell and was drilled at a shallow angle which is parallel to the final pit slope and will be used for geotechnical studies as well as the metallurgical testwork.
"The intersection is within a high grade zone which is developing in the southern end of the Thaduna deposit."
Results from another three diamond holes in this area are pending, with another ten shallow dipping (-35o) diamond drill holes are planned within the BFS program to test similar depths just below the existing historic pit to supply core for additional testwork.
Ventnor said that it continues to evaluate a number of investment proposals negotiations continuing with some at an advanced stage.
The potential outcomes have significant consequences for the company and the directors are mindful of the shareholders interest during what have been protracted evaluations.
The significance of THDD234 is that it has returned a significantly better intersection than the surrounding reverse circulation drilling completed early in the first Phase of drilling December 2011 and highlighted by an intersection of 8 metres at 4.48% copper and 15.6 g/t silver in nearby hole THRC108.
The impact from the latest hole is that it will in an upgrade to the existing Resource estimate in this area, while validating previous drilling - increasing the confidence in the continuity of the Thaduna mineralised structure.
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.