Jan 21 2011
The management of Vantex Resources Ltd. (TSX VENTURE:VAX) has announced that it intersected in drill hole VPE10-18, five gold zones, including a new zone located north of the initial discovery, that returned 7.97 g/t Au over 9 metres, along the hole. This zone includes a section of 3 metres grading 22.69 g/t Au.
Drill hole VPE10-19, located west of VPE10-02, intersected 2 gold sections. The Moriss zone, that contained visible gold, returned 18.43 g/t Au over 4.15 metres between 103.5 and 107.65 metres while a new deeper gold zone between 193.5 and 205.5 metres, returned 2.8 g/t Au over 12 metres, including a section at 6.24 g/t Au over 4.5 metres, along the hole.
Drill hole VPE10-17 intersected the Moriss zone between 106.3 and 112.20 metres, outlining a section of 5.9 metres grading 5.06 g/t Au. In drill hole VPE10-21, the North zone was intersected between 124.5 and 135 metres and returned 1.85 g/t Au over 10.5 metres including a section at 3.07 g/t Au over 3 metres. The Moriss zone was intersected between 145.5 and 150 metres, returning 1.86 g/t Au over 4.5 metres including 5.05 g/t Au over 1.5 metres. A third zone returned 1.39 g/t Au over 1.5 metres. An intersection of 3 metres returned 16.32 g/t Au in VPE 10-23, located 250 metres east of VPE 10-02. This zone is interpreted as also being part of the Moriss zone and confirms a possible extension towards the GP zone.
« We are pleasantly surprised and very pleased to note that the Moriss zone is now generating many gold zones in a relatively confined area. In order to better understand the context of this new gold environment, we will probably proceed with additional geophysics surveys, namely 3D. This will enable us to better outline the in-depth mineralized zones and to define our future drill targets. We are very anxious to resume the drilling of this important gold area. » stated Mr. Guy Morissette, CEO of the Company.
The gold zones seem to continue down dip as well as laterally. More drilling will be necessary in order to investigate this zone as soon as the Company receives the required approvals from Quebec's natural resources department and that the compilation and analysis of the latest data are completed.
GP Zone ( Galloway-Pitchvein )
Even if the drilling campaign on the GP zone has been completed for some time, more than 3,000 metres of drilling assays are still pending. This delay is due to the Holidays and priority that was given to the Moriss results. Management expects those results to be available by the end of February 2011. The GP zone is located 600 metres east of the Moriss zone and 500 metres north of the Hendrick zone. This gold zone offers excellent potential for an open pit exploitation. Following the compilation of current and upcoming results, the Company will begin a first gold resource estimate.
All samples were tagged, bagged and shipped to Laboratoire Expert Inc., Rouyn-Noranda, where 30-gram pulp samples are prepared and assayed for gold (FAA). New gravimetric analysis (FA) are performed on all the samples with levels higher than 1.0 g/t Au. A strict QA/QC program including random insertion of blanks, standards and duplicate samples has been followed throughout the sample preparation. The NQ-size core is logged, sampled and split in two at the company's core shack in Rouyn-Noranda.
The work program is being supervised by Mr. Jeannot Theberge and Mr. Daniel Kelly, Geologists and Qualified Persons under the NI 43-101 guidelines. Mr. Kelly has read and approved this press release.