vantex resources ltd
(UD7A:Frankfurt Stock Exchange)
vantex resources ltd (UD7A) Snapshot
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10/11/12 - €0.11
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05/20/13 - €0.02
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Vantex Resources Ltd, a junior mining exploration company, engages in the acquisition, exploration, production, and development of gold properties in Canada. It principal project include the Galloway gold project that comprises approximately 2488 hectares, 63 claims, and 3 mining concessions located in the Dasserat Township, Abitibi district of Quebec. The company was formerly known as Vantex Oil, Gas and Minerals Ltd and changed its name to Vantex Resources Ltd in February 2004. Vantex Resources Ltd was founded in 1987 and is based in La Prairie, Canada.
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vantex resources ltd (UD7A) Key Developments
Vantex Resources Ltd. announced a gold intersection grading 137.9 g/t Au over 1.4 meter in drill hole VM13-08 at vertical depth of 180 meter. This section is located in the west extension of the Moriss zone and contains visible gold within a smokey quartz vein. The company completed 2,000 meters for 9 drill holes located in the east and west extensions of the Moriss zone. All the drill holes, from the company's interpretation, intersected the targeted zone and anomalous gold was present in most of them. The west extension of the Moriss zone as well as the other gold zones previously encountered remain open for exploration.
Vantex Resources Ltd. provided an update on its drilling campaign currently underway. 4 drill holes for 900 metres have been completed on the Moriss zone. These 4 drill holes are testing extensions at depth for this gold zone. The 4 drill holes intersected a shear zone, corresponding to the Moriss zone, on widths of 6 to 25 metres. The shear zone presents a strong alteration containing carbonates as well as silicification and pyrite mineralization between 1 to 25%. The zone was intersected at vertical depths between 190 and 220 metres. The 5,000-meter drilling campaign is still underway and assay results should be available in the coming weeks. The works are supervised by Daniel Kelly, consulting geological engineer and Qualified Person under NI 43-101. The Moriss zone is an important gold showing located in the west part of the Galloway project and within the Golden Triangle which is outlined by the GP, Hendrick and Moriss showings. All these showings are located within an area of 500 metres. The Moriss zone is associated with a east-west shear zone, dipping north 44 to 50 degrees, located on the south contact of an intrusive porphyric in feldspath strongly carbonatized-sericitized (with traces of fucshite).
Vantex Resources Ltd. announced the start of a 5,000-meter drilling campaign on the Moriss zone, in the west part of the Galloway project. 20 drill holes with lengths between 250 and 350 metres will be drilled in order to test the lateral and depth extensions of this gold zone that is now known over 225 metres on surface and down to 200 metres below surface. The Moriss showing forms with the GP and Hendrick showings, the Golden Triangle area. Many drill holes that took place on the Moriss showing since 2010 outline an important gold system comprised of many zones with high gold grades, namely the Moriss and Moriss North zones. These zones also contain elevated silver grades.
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