Ventnor Resources Acquires Copper Prospective Land Near 8.6mt Horseshoe Lights Project

May 06, 2012 8:52 PM ET
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Ventnor Resources (ASX: VRX) has acquired new ground in the Kumarina district, adjacent to highly prospective copper targets such as Horseshoe Metals' (ASX: HOR) 8.6 million tonne at 1.06% copper Horseshoe Lights Copper-Gold Project.

The region continues to emerge as a major copper district in Australia, highlighted by the fact that Sandfire Resources' (ASX: SFR) massive DeGrussa Copper-Gold mine is just 65 kilometres away.

The new landholding, which covers 1,887 square kilometres, is located in the southeast margin of the Bangemall Basin at Kumarina, 75 kilometres northwest of Ventnor's Thaduna/Green Dragon Copper project.

Ventnor has accumulated the landholding as Exploration Licence applications since mid-2011.

The ground also lies adjacent to Montezuma Mining Company's (ASX: MZM) Butcherbird Copper Project, where high grade copper mineralisation has now been successfully defined over a 600 metre strike with potential to extend the mineralisation even further due to it remaining open along strike and at depth.

Bruce Maluish, Ventnor Resources managing director, said, "We now have an extensive contiguous holding in a highly prospective area to undertake a new approach to greenfields exploration using modern techniques.

"This project is secondary to our Thaduna and Green Dragon copper project which is nearing a resource estimate but is in proximity to our main focus and nearby active copper exploration prospects.

"Surprisingly little or no exploration has been undertaken in this region. We will initiate a HyVista program which will allow us to economically and efficiently examine the surface mineralogy over such a large area and pinpoint areas of interest for more intensive exploration."

The Kumarina Project lies within the Mesoproterozoic Bangemall Basin which is located between the Yilgarn and Pilbara Cratons.

Locally the Project area sits on the Bullen Platform and is hosted in the Collier Subgroup.

Ventnor now plans to conduct a HyVista aerial survey over the area for more intensive exploration follow up.

Data capture is underway with field checking to be conducted following analysis of the results.

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