Vantex Cuts 5.11 g/t Au Over 5 Metres on Moriss
16 November 2011 - 4:49AM
Marketwired
The management of Vantex Resources Ltd. (TSX
VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is pleased to announces a
drill intersection of 5.11 g/t Au and 5.78 g/t Ag over 5 metres,
along the hole in drill hole VPE 11-42. This intersection was found
100 metres in-depth along the hole and corresponds to the Moriss
zone.
Drill hole VPE11-41 that tested the in-depth extension of the
North zone, intersected the zone over 6metres along the hole,
grading 1.03 g/t Au and 1.03 g/t Ag. Intersected at 234 metres
along the hole (180 metres vertical depth), the North zone is still
present and nothing indicates that the zone is not open more
in-depth. Two more gold intersections were found at shallower
depths, returned 2.52 g/t Au and 2.12 g/t Au over 1.50 metres each.
Another in depth intersection was found at 300 metres and returned
1.84 g/t Au over 1.50 metres.
Zone From To Width Grade Grade
Drill hole (metres) (metres) (metres) g/t Au g/t Ag
VPE11-41 - 60.50 62.00 1.50 2.52 1.20
and - 83.70 85.20 1.50 2.12 1.00
and North 234.00 240.00 6.00 1.03 1.95
and - 300.00 301.50 1.50 1.84 2.20
VPE11-42 Moriss 98.60 103.60 5.00 5.11 5.78
Non
VPE11-43 significant
Assays from drill holes VPE11-44, VPE 11-45 and VPE11-46 are
pending.
Upcoming works
Management is planning a new 4,000-metre drilling program to
verify a drill hole done by Kerr-Addison in 1988 (KHD88-01 - area
of Moriss and Hedrick showings) that intersected many gold zones
including 5.14 g/t Au over 3 metres as well as the other
gold-bearing zones that were found in the Hendrick area, as
described in the table below:
From To Width Grade
Drill hole (m) (m) (metres) g/t Au
VPE10-15 640.50 648.90 8.40 2.98
Including 640.50 645.00 4.50 4.66
940.50 948.00 7.50 2.61
KOD86-01 429.01 437.08 8.07 3.39
496.82 499.57 2.75 6.93
Including 628.50 631.85 3.35 4.58
735.79 747.98 12.19 2.16
Including 735.79 737.92 2.13 5.52
VPE11-36 691.50 694.50 3.00 5.90
796.50 799.50 3.00 7.87
964.50 969.00 4.50 2.61
Corporate Development
In order to increase Vantex visibility across the country,
management is planning to open an office in Toronto and is actively
searching for a candidate with very good mining and finance
knowledge as well as a strong background in Investor Relations.
Management is also evaluating different propositions from IR,
financing and business development firms. The chosen firm will have
the mandate to represent the Company towards investment communities
in Canada, US and Europe. The goal is to make Vantex projects known
and improve our market cap.
The management feels it's now necessary to invest in this area
given the anemic state of the junior's market.
"We are now in competition with thousands of mining, gas and oil
companies. In order to stand out, we need to develop our relations
with mining investors, analysts, mining funds, etc. This includes
setting-up an office in Toronto, hire specialized firms in investor
relations and business development as well as recruting new
candidates for management and the board of directors. These efforts
along with our ongoing drilling programs should improve the market
cap of the Company." declared the CEO of Vantex, Mr. Guy
Morissette.
This press release was read and approved by Daniel Kelly,
geological engineer and NI-43- 101 Qualified Person.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Source: Guy Morissette CEO
514-712-9753www.vantexressources.com For information: Wayne Carlon
VP Business development 902-857-1043waynecarlon@eastlink.ca
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