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MENAFN - ProactiveInvestors - Australia - 22/01/2013

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(MENAFN - ProactiveInvestors - Australia) Ventnor Resources (ASX: VRX) is back drilling at the highly prospective Thaduna/Green Dragon Copper Project in Western Australia following the break over Christmas, with the company targeting a high grade shoot identified in drilling from the December quarter 2012.

The initial program of seven holes comprising 4,000 metres is expected to take 7-8 weeks to complete. Pads were prepared prior to the Christmas break and the drill rig has commenced the first hole.

At the end of 2012 work commenced on an updated resource model for the Thaduna deposit, which is expected to be announced to be released in early March quarter 2013.

Drilling to date at Thaduna comprises 221 reverse circulation holes for 29,149 metres with 65 diamond holes or tails for 13,949 metres, totaling 43,098 metres.

Bruce Maluish, managing director of Ventnor, said the drill program will follow up the high grade results reported in the previous quarter.

"We are able to confidently plan these holes now based on our understanding of the structural controls identified in the drilling to date.

"Our expectations are for a continuation of the high grade shoot down plunge. Drilling has recommenced with an initial seven-hole program which may be extended subject to the mineralisation we intersect."

The project is strategically located in the renowned Doolgunna district, 170 kilometres north of Meekatharra and 40 kilometres east of Sandfire Resources' (ASX: SFR) DeGrussa project.

Late 2012 highlights

In December 2012 Ventnor announced the results of THRC220, which returned 9.16 metres at 8.57% copper and 27.2g/t silver from a predominantly bornite rich intersection with chalcocite overprinting of the bornite.

The picture (above) highlights the current long section which shows the intersection in THRC220 and the seven proposed diamond drill holes spaced 80 metres by 80 metres across the projected high grade shoot extension.

Included on the longsection are three diamond holes, THDD222, 223 and 224 which were drilled just prior to the Christmas break and we are awaiting assays.

A Fixed Loop EM survey was conducted down holes drilled adjacent to the interpreted DHEM conductor to better locate the anomaly. A drill hole is planned to be targeted at the conductor and will be undertaken this quarter.

Thaduna updated resource model pending

At the end of 2012 work commenced on an updated resource model for the Thaduna deposit, with assays still with the laboratory, but it is anticipated the updated Resource will be completed early in the March quarter 2013.

The resource will include holes drilled late 2012 with outstanding assays and extend the Resource to 450 metres vertically below the surface.

Ventnor inked a maiden JORC resource estimate of 101,413 tonnes of contained copper for its Thaduna/Green Dragon Copper project in October 2012.


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