Vantex Intersects 59.51 g/t Au Over 6.20 Metres
August 30 2012 - 8:30AM
Marketwired Canada
The management of Vantex Resources Ltd. (the "Company") (TSX
VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is pleased to report a gold intersection
of 6.20 metres at 59.51 g/t Au in drill hole VPE12-50 (along the hole). The
Moriss zone was also intersected in the same drill hole and returned 5.09 g/t Au
over 5.05 metres.
The N1 zone, encountered on the north flanc of a carbonatized and sericitized
intrusive, is a highly altered and mineralized zone containing free gold. This
same zone returned high gold grades in previous drilling campaigns. The Moriss
zone is located on the south flanc of this same intrusive.
Three drill holes were done in the current drill campaign for a total of 680
metres.
Results from those three drill holes follow :
Drill hole Zone Depth(i) Width(i) Grades (uncut)
(metres) (metres) (g/t Au)
VPE12-49 Unknown 184.50-185.20 0.70 13.87
VPE12-50 N1 58.00-64.20 6.20 59.51
Including 58.00-59.00 1.00 6.37
59.00-60.00 1.00 285.93 (VG)
60.00-61.00 1.00 2.02
61.00-62.00 1.00 2.96
62.00-63.00 1.00 3.47
63.00-64.20 1.20 56.86 (VG)
Moriss 117.85-122.90 5.05 5.09
VPE12-51 Moriss Non significant
South 210.50-211.50 1.50 2.84
(i) Along the hole
The following table presents previous drill results from the Moriss showing:
Drill hole Zone From To Width Grades
(m) (m) (m) (g/t Au)
VPE10-06 Moriss 97.50 108.00 10.50 4.55
VPE10-10 Moriss 101.00 106.35 5.35 11.60
VPE10-11 Moriss N1 84.00 106.00 22.50 8.21
Including 84.00 89.00 5.50 18.16
And 100.00 106.50 6.50 13.93
VPE10-17 Moriss N1 106.30 112.20 5.90 5.06
VPE10-18 Moriss N2 48.00 57.00 9.00 7.97
VPE10-19 Moriss 103.50 107.65 4.15 18.43
Including 198.00 202.50 4.50 6.24
VPE10-23 Moriss 54.00 57.00 3.00 16.32
VPE11-24 Moriss 98.60 103.90 5.30 24.9
VPE11-25 Moriss 99.15 106.00 6.85 12.93
VPE11-37 Moriss N1 94.50 100.50 6.00 7.79
Under the supervision of Mr. Daniel Kelly, consulting geologist and Qualified
Person under NI 43-101, these drill holes were positioned based on the first 3D
model of the Moriss showing. The results answered in part, certain questions
that arised from the modelisation.
The management is now planning a 10,000-meter drilling program. This program
will start as soon as the Company receives the west extension of the Moriss zone
as well as the permits for access and tree clearing.
"The Golden Triangle area and mainly the Moriss showing are priorities for the
Company. Discovered by Vantex in 2010, the Moriss showing comprises many
gold-bearing zones linked to an important altered intrusive, namely the Moriss,
N1 and N2 zones, that show very promising gold potential with the width and gold
grades obtained from the previous drilling. The presence of this intrusive
appears to be the most important factor in the development of the surrounding
gold and silver structures. We are excited with the gold potential of this
showing." commented Guy Morissette, CEO of Vantex.
Moriss gold Zone
The Moriss area show many new gold showings that are added to the Galloway
property. Discovered in 2010, this zone was confirmed with more than 15 drill
holes and is associated with the contact of a carbonatized-sericitized
intrusive. The gold structures are often silicified and contain variable
quantities of smokey quartz veins, pyrite and locally, free gold.
In this area, other than the Moriss zone, we also note the presence of at least
two gold zones to the north - N1 and N2 - (drill holes VPE-10-11, 18 and
VPE-11-37) as well as at least one more zone to the south (drill holes
VPE-10-02, 19, VPE-11-24 and 39). The attitude of these zones are not yet
defined. These zones are generally associated with intrusive breaches containing
variable quantities of carbonate quartz veins and pyrite. All the gold zones
intersected within the Moriss showing surroundings remains open along strike and
in-depth.
Some IP anomalies appear to be associated with the Moriss zone.
Airborne survey.
The airborne geophysical interpretation, covering some 375 kilometers of flight
lines over an area of 8.5 kilometers by 4.5 kilometers, has been completed
(august 2012) and several geophysical targets corresponding to sulphide
conductors and historical gold-bearing occurrences have been outlined. The
majority of these targets, combined magnetic highs and electromagnetic
conductors, correspond to fault splays associated with the main east-west
trending faults: the Victoria Creek Fault (Queenston Upper Beaver Occurrence and
Richmont Francoeur Occurrence), and the Larder Lake-Cadillac Fault (Kerr-Addison
Deposit and Richmont Wasamac Occurrence). A majority of these anomalies are also
associated with gabbro-sill contacts and syenite-porphyry contacts where they
are intersected by northwest trending or northeast trending cross faults.
Two types of anomalies are observed; flat-lying anomalies adjacent to east-west
trending faults and steeply dipping anomalies associated with geologic contacts
and/or major fault systems. The priority targets will be investigated on surface
with stripping and/or sampling and the most significant targets will be drilled.
Approximately 3,500 to 5,000 meters of drilling is recommended to test the main
targets which have never previously been tested.
The Moriss Zone structure (along with several splay and parallel structures),
has been delineated by the airborne geophysics and corresponds with the Victoria
Creek Fault. Its associated with the brecciated contacts of an intermediate to
mafic altered dyke that is assumed to be associated with a large syenite
porphyry complex to the northeast. This dyke system occurs between the Blake
River Volcanics and the Temiskaming Sediments.
The exploration was supervised by Mr. Daniel Kelly, consulting geologist and
Qualified Person under NI 43-101. he read and approved this press release.
Assays were performed by Laboratoire Expert of Rouyn-Noranda.
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