Venturex Resources’ Sulphur Springs copper-zinc project continues to impress with outstanding assays received from final five holes of an infill drilling program at the Pilbara-based project.
Assays received include best intersections of 48.2m at 2.52% Zn from 95.8m, 29.9m at 9.02% Zn from 169.1m and 36.5m at 3.33% Cu from 204.5m, 8.9m at 2.17% Zn from 132m, 6.0m at 13.65% Zn from 102m and 19.0m at 4.56% Zn from 125m.
Another hole returned 65.25m of continuous sulphide mineralisation comprising three key intercepts of 16m at 0.12% Cu and 9.03% Zn from 133m, 9.3m at 1.30% Cu and 7.40% Zn from 149m and 39.95m at 3.64% Cu and 1.00% Zn from 158.3m.
The 14-hole programme has been highly successful with all drill holes returning ore grade intersections, paving the way for work to commence immediately on a planned update of the Sulphur Springs resource.
“We’re off to an excellent start in 2018 with the final results from the diamond drilling programme completed just before Christmas returning some of the most impressive intercepts we’ve seen throughout the programme,” Venturex’s Executive Director Anthony Reilly said.
“The 65 metres of continuous mineralisation intersected in the final hole, SSD102, is a particularly impressive result which demonstrates the continuity of high-grade mineralisation in this part of the deposit.
“The in-fill programme has well and truly met or exceeded our expectations and, with all results now in, we have started work on the resource upgrade, which we anticipate to complete this quarter. That will allow us to move ahead rapidly with our goal of reaching a decision to mine in mid-2018.”
Mr Reilly added it was an ideal time to bring a major new greenfields copper-zinc project towards financing and development with both copper and zinc prices hitting new highs in the early part of the New Year on the back of a compelling demand outlook and ongoing supply constraints.
Drilling also identified a previously unrecognised zinc-rich zone overlying the previously recognised copper zone – a new discovery consistent with a classical VMS model.
The resource update will form a key component of the company’s ability to target a decision to mine by mid this year.
Shares in Venturex were trading 0.1c higher at 2c in Thursday afternoon trade.