Vantex Cuts 245.5 Metres at 0.522 gt/Au on Galloway
Wed Apr 22, 8:00 AM
ca.news.finance.yahoo.com
LA PRAIRIE, QUEBEC--(Marketwire - April 22, 2009) - The management of Vantex Resources Ltd (TSX VENTURE: VTX.V) wishes to announce that it has completed a first 1,000 metre drilling phase on the Galloway project located in the Rouyn-Noranda mining dristrict, in Abitibi.
As part of its strategy to develop an open pittable gold deposit and to verify historical results, the company completed a first phase of work consisting in eleven drill holes ranging from 50 to 255 metres in length. Hole VHD09-01 cut the mineralized zone over more than 245 metres, along the hole, with a grade of 0.522 g/t Au while hole VHD09-02, located 45 metres south and 25 metres east of the former, cut the same zone over 145.5 metres, along the hole, with an average grade of 0.526 g/t Au. It shall be noted that these holes were stopped in mineralization. Drill holes VHD09-05 and 08 are respectively located 50 and 25 metres south of VHD09-01 and 02.
Section #1
Drill Hole From To Length Grade
(metres) (g/t Au)
VHD09-01 9.50 255.00 245....
Including 9.50 21.00 11.50 1.024
and 150.00 162.00 12.00 1.176
and 250.50 255.00 4.50 2.058
VHD09-05 6.85 150.00 143.15 0.459
Including 120.00 150.00 30.00 0.894
Including 129.00 150.00 21.00 1.074
Including 142.00 150.00 9.00 1.829
KHD-24 (i) 114.50 248.00 133.50 0.710
Including 237.50 248.00 10.50 1.710
97H-19 (i) 6.73 392.50 385.77 0.429
Including 307.00 349.00 42.00 1.000
Including 341.50 349.00 7.50 1.644
Section # 2 (located 25 metres to the east of section #1)
Drill Hole From To Length Grade
(metres) (g/t Au)
VHD09-02 4.50 150.00 145.50 0.526
Including 19.50 34.50 15.00 0.711
Including 97.20 102.00 4.90 1.624
VHD09-08 4.50 38.50 34.00 0.360
93H-05 (i) 4.27 47.40 43.13 0.972
and 157.85 258.40 100.55 1.030
Including 185.70 210.95 25.25 1.410
Including 196.50 208.90 12.40 2.320
KHD87-7 (i) 486.80 573.63 86.83 1.100
Including 517.25 549.25 32.00 2.090
Including 544.68 549.25 4.57 7.860
(i) Historical drilling.
"These preliminary results indicate that historical results can be trusted. Furthermore, of a total of 411 samples collected from the first four holes, only 8 returned values below 100 ppb Au. This confirms that the Galloway-Pitchvein mineralized area is strongly anomalous in gold and that the prospect has the potential for a low grade, large tonnage open pittable resource. The next phase will consist of an extensive, near surface (0 to 300 metres), drilling program (approximately 20,000 metres) aimed at outlining areas of gold enrichment and support a first resource estimate. Management of Vantex wishes to carry out a series of private placements to fund such a program" indicated Mr. Guy Morissette, president of Vantex.
NQ core samples were collected and prepared at Vantex facility in Rouyn-Noranda then shipped to Laboratoire Expert in the same town. Gold has been analyzed by FAA on 30 grams pulps. FA with gravity finish was used on results above 1 g/t Au. A rigorous QA/QC program which includes the insertion of gold standards, duplicates and blanks was followed.
Drilling has been carried out under the supervision of Mr. Jeannot Theberge, consulting geologist and qualified person as per NI 43-101. Mr. Theberge has read and approved this press release.
The company wishes to notify its shareholders that no consolidation of shares is being planned in the near future.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Vantex Resources Ltd.
Source:
Guy Morissette
President
514-712-9753
Francois Marcotte
Vantex Resources Ltd.
Investor Relations
450-536-0279
francois-marcotte@videotron.ca
www.vantexressources.com |
