Ventnor Resources soars on "Degrussa style" intersections at Thaduna and Green Dragon project

Ventnor Resources (ASX: VRX) has returned outstanding drill results identifying copper mineralisation from second phase of drilling at the Thaduna and Green Dragon copper project, 40 kilometres east of Sandfire Resources' (ASX:SFR) Degrussa project in Western Australia.

Best intercepts from current drilling at Thaduna prospect included:

- 5 metres at 4.21% copper from 30 metres;
- 3 metres at 4.47% copper from 121 metres;
- 5 metres at 5.10% copper from 100 metres;
- 4 metres at 3.85% copper from 122 metres; and
- 11 metres at 5.57% copper from 100 metres.

Additional copper mineralisation was discovered along strike 300 metres north of the existing Thaduna pit.

Meanwhile at Green Dragon Prospect, there was confirmed significant and continuous copper mineralisation with intersections from the second phase of drilling including:

- 2 metres at 9.00% copper from 85 metres downhole
- 4 metres at 2.98% copper from 44 metres;
- 4 metres at 7.86% copper from 60 metres;
- 5 metres at 6.07% copper from 80 metres;
- 12 metres at 5.07% copper from 64 metres; and
- 5 metres at 5.93% copper from 88 metres.

Ventnor Resources managing director Bruce Maluish said, “The success of the drilling program has revealed, in my opinion, the most significant copper results in the Doolgunna District, since Sandfire’s DeGrussa discovery, and justifies Ventnor’s aggressive exploration program.”

“The mineralisation is open along strike, down dip and to surface and Ventnor is planning an additional drill program with the intent to determine a maiden JORC Resource for a scoping study to be completed in the March 2012 quarter,” Maluish said.

The Thaduna and Green Dragon Copper Project is located 170 kilometres north of Meekatharra, WA, in the Doolgunna district and within the Late Proterozoic Yerrida Basin.

In June/July 2011, Ventnor Resources completed a 6,020 metre reverse circulation drilling program at the Company’s Thaduna and Green Dragon copper project. The program followed up the significant results from the initial 2,762 metre drill program, results of which were announced 30th May 2011. A total of 46 new holes were drilled; 26 holes for 3,520 metres at Thaduna and 20 holes for 2,420 metres at Green Dragon.

At Thaduna, two holes from the April 2011 drilling program, THRC006 and THRC009, were extended 60m and 20m respectively, both of which intersected the intended mineralisation.

The purpose of this drilling program was to extend the known mineralisation along strike and down dip from mineralisation intersected in the previous program. The program has been successful and now provides a platform for a Resource definition drilling program which is currently being planned and will be undertaken in the December 2011 quarter.

A total of 44 holes for 5,432 metres have now been completed at Thaduna. A strike length of 1,500 metres has been tested to a maximum depth of 150 metres vertically below the surface. Of the 44 holes drilled, 33 intersected significant mineralisation (+0.2% copper over 2 metre minimum) and 21 holes intersected high-grade (HG) values (+1% copper over 2 metre minimum).

Drilling to date has had a better than 80% success rate intersecting significant mineralisation. The mineralisation remains open to the north, south, to surface and at depth along the entire 1,500 metres strike of current known mineralisation.

Green Dragon Prospect

A total of 26 holes for 3,020 metres have now been completed at Green Dragon. A strike length of 500 metres has been tested to a maximum depth of 130 metres vertically below the surface.

Of the 26 holes drilled, 22 intersected significant mineralisation (+0.2% copper over 2 metre minimum) and 16 holes intersected high-grade (HG) values (+1% copper over 2 metre minimum) with some holes with multiple high-grade intersections.

In fact every hole has intersected mineralisation better than 0.1% copper over 2m. The drilling at Green Dragon has been very successful in intersecting significant copper mineralisation.

The multiple zones of mineralisation remain open to the north, south, to surface and at depth along the 500 metre strike of current known mineralisation.

Conclusions

This latest drilling program has confirmed the potential for economic mineralisation at Thaduna and Green Dragon. Early interpretations show a series of hydrothermal veins with copper and associated silver mineralisation.

The current geological understanding is that the mineralisation occurs in fault zones controlled by regional scale sinistral faulting, as well as associated local scale structures, within a sediment host rock.

Further structural geological studies are required which may give rise to additional exploration targets.
Ventnor intends to conduct a JORC Resource definition drilling program on the two project areas. It is expected that this will entail drilling of between 8,000 – 12,000m of reverse circulation drilling plus up to 1,000m of diamond core for metallurgical testwork and geotechnical assessment.

The drilling is expected to be undertaken in the December 2011 quarter.

Subject to on-going drilling results the Company will also commence environmental assessment work as well as waste rock characterisation and ground water studies to support a preliminary scoping study.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19053/ventnor-resources-soars-on-degrussa-style-intersections-at-thaduna-and-green-dragon-project-19053.html