Vantex Expands Land Position at Moriss Zone Exploration to Target High Grade Extensions
January 16 2013 - 8:00AM
Marketwired Canada
Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is very
pleased to announce that the Quebec Ministry of Natural Resources and Wildlife
has granted to Vantex the right to explore on the property to the north and west
of the high grade Moriss zone. The new property expands the land position
adjacent to the Moriss zone by 100 hectares, and is thought to host the lateral
and depth extensions of existing mineralization discovered there including 59.5
gpt gold over 6.2 meters in hole VPE12-50. A 5,000 meter drill program is
planned to start on the new property in February.
"We are very pleased to finally receive this property extension. It gives us the
exciting opportunity to test the full potential of the Moriss zone. Our
exploration program has been ready for many months and we plan to start drilling
in February, providing enough time to complete a financing and build access to
the new drill sites" stated Mr. Guy Morissette, CEO of Vantex.
Location Map : http://file.marketwire.com/release/Location_map.JPG
Golden Triangle: http://file.marketwire.com/release/Golden_Triangle.JPG
New area to drill: http://media3.marketwire.com/docs/Drill_map.pdf
Located in the west part of the Galloway property, the Moriss zone was
discovered at the end of 2010, and together with the GP and Hendrick forms the
Golden Triangle area. Fifty (50) drill holes were completed on the Moriss zone
since 2010, and those results show the presence of an important gold system
comprised of several zones with economic grades.
The following table shows highlights from previous drilling at Moriss:
----------------------------------------------------------------------------
From To Length Grade
Hole Zone (m) (m) (m) g/t Au
----------------------------------------------------------------------------
VPE10-02 Moriss 87.00 91.75 4.75 5.81
----------------------------------------------------------------------------
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 N 84.00 106.00 22.50 8.21
----------------------------------------------------------------------------
and 146.75 153.00 6.25 3.53
----------------------------------------------------------------------------
VPE10-17 Moriss N 106.30 112.20 5.90 5.06
----------------------------------------------------------------------------
VPE10-18 Moriss N 48.00 57.00 9.00 7.97
----------------------------------------------------------------------------
VPE10-19 Moriss 103.50 107.65 4.15 18.43
----------------------------------------------------------------------------
VPE10-21 Moriss N 124.50 135.00 10.50 1.85
----------------------------------------------------------------------------
and Moriss 145.50 150.00 4.50 1.86
----------------------------------------------------------------------------
VPE10-23 Moriss 54.00 57.00 3.00 16.32
----------------------------------------------------------------------------
VPE11-24 Moriss 98.60 103.90 5.30 24.90
----------------------------------------------------------------------------
VPE11-25 Moriss 99.15 106.00 6.85 12.93
----------------------------------------------------------------------------
VPE11-27 Moriss 107.30 114.00 6.70 3.95
----------------------------------------------------------------------------
VPE11-28 Moriss 129.00 131.00 2.00 2.00
----------------------------------------------------------------------------
VPE11-29 Moriss 45.00 47.00 2.00 7.32
----------------------------------------------------------------------------
VPE11-30 Moriss 54.10 57.10 3.00 1.54
----------------------------------------------------------------------------
VPE11-37 Moriss N 94.50 100.50 6.00 7.79
----------------------------------------------------------------------------
VPE11-42 Moriss 98.6 103.6 5.0 5.11
----------------------------------------------------------------------------
VPE12-50 Moriss N 58.00 64.20 6.20 59.51
----------------------------------------------------------------------------
and 117.85 122.90 5.05 5.09
----------------------------------------------------------------------------
N = North
Hurd
In a separate transaction the company purchased 20% of a 2% NSR (0.4%) that was
held by the previous owners of the Hurd block for $50,000.
Belleterre
Aurtois Exploration Inc. fulfilled the first part of its obligation (cash and
share payment) at the Guillet project. In order to acquire the 75% of the
project, Aurtois must deliver an independent pre-feasibility study before 2016.
Technical Information
The information presented in this press release has been reviewed and approved
by Daniel Kelly, geological engineer, a consultant to Vantex Resources and the
Qualified Person responsible for the exploration program at the Moriss property.
Mr. Kelly has read and approved this press release.
To learn more about Vantex Resources (TSX VENTURE:VAX), visit our website:
http://www.vantexressources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Vantex Resources Ltd.
Guy Morissette
Chief Executive Officer
(514) 712-9753
(450) 444-1776 (FAX)
www.vantexressources.com
Wayne Carlon
VP Business Development
(902) 402-6264
waynecarlon@eastlink.ca
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