VXR - Venturex Resources - Aussie Stock Forums

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  1. #1
    hoarding tinned food kennas's Avatar
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    Apr 2006
    By the river
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    Default VXR - Venturex Resources

    Here's a little minnow, with not much cash left, but has potentially discovered a decent deposit in WA.

    This was ann'd 6 July. Explains the spike in price.

    High Grade Copper-Zinc-Silver-Gold Intersections at Liberty-Indee Project,
    Pilbara, Western Australia

    20m @ 3.43% Cu, 6.47% Zn, 65g/t Ag, 1.73g/t Au
    17m @ 4.16% Cu, 8.7% Zn, 66g/t Ag, 1.03g/t Au
    15m @ 2.37% Cu, 3.75% Zn, 45g/t Ag, 0.84g/t Au

    Cu equiv of about 7%, nothing to be sneezed at.

    These results are amongst a bunch of pretty average hits though, so continuity is a big question.

    Will now depend on what sort of tonnage they can scrape out of it. I think further drilling starts in August.

    Will need to keep hitting those larger numbers over greater widths to get any real interest I think.

    About 200m on issue with various options at .06 gives an MC about $12m.
    Cash only $500k and spending that per quarter, so will be doing rounds of the banks about now.
    Attached Images
    Last edited by kennas; 29th-July-2009 at 04:15 AM.

  2. #2

    Default Re: VRX - Venturex Resources

    Ticker is VXR nor VRX. Is it something that can be changed?

    "Cash only $500k and spending that per quarter, so will be doing rounds of the banks about now."

    They are doing a 1 for 10 offer at $0.05

  3. #3

    Default Re: VXR - Venturex Resources

    This company caught my eye after an article in today's Australian.

    "Venturex Resources (VXR) reports that a scoping study on its Pilbara project confirms the positive economics. With yearly metal production of 7800 tonnes of copper, 13,900 tonnes of zinc and 4200 tonnes of lead as well as gold and silver credits, the copper production cost -- with the credits from other metals -- would be 50c a pound. Copper futures closed Friday at $US3.76/lb."

    Their recent announcement estimates the project to have a NPV of 101mil, the company has a current market cap of 63mil.

    I would expect a small positive rise today based on the media coverage, and it is one to watch over the coming weeks for me.

  4. #4

    Default VXR - Ventnor Resources Ltd

    Picked this one up today and l had a quick search on ASF and couldn't find a thread on this stock. If there is, MODS, please delete this thread

    VXR - Website

    Exploration of Gold and other base metals in WA and Brasil.

    Market cap 120.73M

    Shares 965.81M

    Venturex Resources Limited is committed to the identification, acquisition and development of mineral resources that will deliver substantial and sustainable value to Shareholders.

    The Company is based in Perth, Western Australia, and listed on the Australian Stock Exchange (ASX Code: VXR). Venturex's principal asset is the Whim Creek VMS Project located in the Pilbara Region of Western Australia. The Company also controls a number of advanced gold projects in Brazil.

  5. #5
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: VXR - Venturex Resources

    MC - $56m
    SP - 4.5c
    Shares - 1.25b
    Options - Nil quoted
    Cash - $6.5m

     Maiden diamond drilling program commenced at Nova Canaã
     6 hole program testing high grade gold anomaly at Dona Marie prospect
    Venturex is exploring for large gold deposits in Brazil through its wholly owned subsidiary, CMG Mineração Ltda (CMGM). CMGM has commenced a diamond drilling program at the Dona Marie Prospect within tenement 866719 at the Nova Canaã Project in central-northern Mato Grosso.

    Recent Exploration

    Recent auger geochemical drilling from the Dona Maria Prospect in the north of the tenement has defined a consistent 3 kilometre long gold anomaly coincident with interpreted regional structure and various quartz vein outcrops.
    A short trenching program across a mineralised shear zone outlined previously by local prospectors intersected the structure and confirmed the trend of the mineralised structure.
    Previously reported trench results included 12NCTR002 which intersected 6m @ 0.36g/t Au and 12NCTR003 which intersected 6m @ 9.9g/t Au, including 2m @ 22.9g/t (refer Figure 3 above). The mineralised intersections are consistently controlled by two or three steep easterly dipping quartz veins located at a sheared contact between two granites.

    Drilling Program
    The diamond drilling program will initially test mineralized vein/shear structures identified at the Dona Maria Prospect with approximately 680m of HQ Core drilling. The program is designed provide information on alteration patterns together with the mineralogy and structural controls on mineralisation in the region.
    It is anticipate that the drilling program will take 4-6 weeks to complete with assays results expected to be available in late August and September.

    Feasibility Study
    The primary focus of the Company is the completion of the Pilbara Copper-Zinc Project Feasibility Study (Study).
    The Study is centred on the development of a 1.0 Mtpa Sulphur Springs processing facility sourcing high grade copper-zinc (Cu-Zn) ore from the proposed Sulphur Springs underground mine and two open pit mines at Whim Creek. The operation will be a conventional milling and flotation circuit producing separate, high quality Cu and Zn concentrates for shipment to overseas markets.
    The other potential ore sources within the Company’s resource portfolio, including the high grade Salt Creek and Evelyn resources and the newly acquired Kangaroo Caves resource, will add significantly to the Project’s life but have not yet been included in the Study due to constraints of cost and schedule.
    The Study remains on schedule and is anticipated to be delivered at the end of the September 2012 quarter.

    Whim Creek Region
    Exploration activities during the quarter focussed on a complete review of the Whim Creek and Liberty-Indee Joint Venture areas as part of a prioritising of drill programs for the coming year. Initial priority drilling targets will be the Salt Creek-Balla Balla Creek region at Whim Creek and extensions to the Evelyn ore body at the Liberty-Indee Joint Venture.
    Future Exploration
    There is excellent potential for further additions to known Mineral Resources and Ore Reserves through exploration of the 35 kilometres of prospective stratigraphy at the Whim Creek, Salt Creek and Liberty-Indee JV areas.
    Exploration programs are currently being developed on the Company’s immediate priority targets, including:
     down plunge extensions to the Evelyn deposit at Liberty-Indee JV, notably the drill-testing of existing strong off-hole electromagnetic anomalies
    Drilling is expected to commence in the first week of August at the Evelyn deposit targeting a significant down-hole EM anomaly located immediately down plunge from the known mineralisation at the Evelyn deposit.

    Panorama Exploration Joint Venture
    Subsequent to the quarter, the Company entered into a binding conditional agreement (Sale Agreement) to acquire 100% of the Panorama Exploration Joint Venture assets (“PEJV”) from the existing joint venture partners CBH Panorama Pty Limited (“CBH”) (60%) and Sipa Resources Limited (“Sipa”) (40%).
    The PEJV comprises a total of 14 tenements covering an area of approximately 35 square kilometres to the south of the Sulphur Springs Project area

    Kangaroo Caves Deposit
    The acquisition includes the Kangaroo Caves Cu-Zn deposit, located approximately six kilometres south-east of the proposed Sulphur Springs plant site.
    The deposit outcrops as a small gossan and forms an elongate body that dips and plunges gently (20º to 30º) northeast over a length of some 1.25 kilometres to the deepest drill holes. It is broadly characterised by an upper zinc-rich lens overlying massive and stringer copper mineralisation.

    Planned Exploration Activities
    Proposed exploration activities include soil sampling and geological mapping at the Grande Canaã Project. It is proposed to cut and sample a 800m x 200m grid over mineralised granites and conglomerates.
    Subject to diamond drill rig availability, an initial drilling program (up to 600m of HQ core) will be undertaken at Novo Canaã to test the Dona Maria vein intersected in trenching.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

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