Vantex Cuts 5.11 g/t Au Over 5 Metres on Moriss
November 15 2011 - 11:49AM
Marketwired Canada
The management of Vantex Resources Ltd. (TSX
VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is pleased to announces a drill
intersection of 5.11 g/t Au and 5.78 g/t Ag over 5 metres, along the hole in
drill hole VPE 11-42. This intersection was found 100 metres in-depth along the
hole and corresponds to the Moriss zone.
Drill hole VPE11-41 that tested the in-depth extension of the North zone,
intersected the zone over 6metres along the hole, grading 1.03 g/t Au and 1.03
g/t Ag. Intersected at 234 metres along the hole (180 metres vertical depth),
the North zone is still present and nothing indicates that the zone is not open
more in-depth. Two more gold intersections were found at shallower depths,
returned 2.52 g/t Au and 2.12 g/t Au over 1.50 metres each. Another in depth
intersection was found at 300 metres and returned 1.84 g/t Au over 1.50 metres.
Zone From To Width Grade Grade
Drill hole (metres) (metres) (metres) g/t Au g/t Ag
VPE11-41 - 60.50 62.00 1.50 2.52 1.20
and - 83.70 85.20 1.50 2.12 1.00
and North 234.00 240.00 6.00 1.03 1.95
and - 300.00 301.50 1.50 1.84 2.20
VPE11-42 Moriss 98.60 103.60 5.00 5.11 5.78
Non
VPE11-43 significant
Assays from drill holes VPE11-44, VPE 11-45 and VPE11-46 are pending.
Upcoming works
Management is planning a new 4,000-metre drilling program to verify a drill hole
done by Kerr-Addison in 1988 (KHD88-01 - area of Moriss and Hedrick showings)
that intersected many gold zones including 5.14 g/t Au over 3 metres as well as
the other gold-bearing zones that were found in the Hendrick area, as described
in the table below:
From To Width Grade
Drill hole (m) (m) (metres) g/t Au
VPE10-15 640.50 648.90 8.40 2.98
Including 640.50 645.00 4.50 4.66
940.50 948.00 7.50 2.61
KOD86-01 429.01 437.08 8.07 3.39
496.82 499.57 2.75 6.93
Including 628.50 631.85 3.35 4.58
735.79 747.98 12.19 2.16
Including 735.79 737.92 2.13 5.52
VPE11-36 691.50 694.50 3.00 5.90
796.50 799.50 3.00 7.87
964.50 969.00 4.50 2.61
Corporate Development
In order to increase Vantex visibility across the country, management is
planning to open an office in Toronto and is actively searching for a candidate
with very good mining and finance knowledge as well as a strong background in
Investor Relations.
Management is also evaluating different propositions from IR, financing and
business development firms. The chosen firm will have the mandate to represent
the Company towards investment communities in Canada, US and Europe. The goal is
to make Vantex projects known and improve our market cap.
The management feels it's now necessary to invest in this area given the anemic
state of the junior's market.
"We are now in competition with thousands of mining, gas and oil companies. In
order to stand out, we need to develop our relations with mining investors,
analysts, mining funds, etc. This includes setting-up an office in Toronto, hire
specialized firms in investor relations and business development as well as
recruting new candidates for management and the board of directors. These
efforts along with our ongoing drilling programs should improve the market cap
of the Company." declared the CEO of Vantex, Mr. Guy Morissette.
This press release was read and approved by Daniel Kelly, geological engineer
and NI-43- 101 Qualified Person.
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