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Ventnor Resources Ltd spins drill bit looking for answers at EM anomalies

Published: 02:00 08 Nov 2016 GMT

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Preliminary assays from the drilling are expected in around one week.

Ventnor Resources Ltd (ASX:VRX) has commenced drilling at its Silver Dragon and Fire Dragon base metal prospects within the Biranup Project located in Western Australia.

The drilling will seek to define mineralisation at two targets generated from previous electromagnetic surveys.

Preliminary assays from the drilling are expected in around one week.

Electromagnetic signatures have been used to discover a number of world class deposits such as the Nova-Bollinger nickel-copper deposit.

The prospectivity of both the Silver Dragon and Fire Dragon prospects is also well supported by coincident geochemical results, which are anomalous in base metals.

Bruce Maluish, managing director, commented: “The response from the MLEM survey produced two compelling base metal anomalies, which we plan to test with this drilling campaign.

The drilling at Fire Dragon will test the mineralisation of the moving loop electromagnetic conductor, while the hole to be drilled at Silver Dragon will be set up to enable a down hole electromagnetic survey to undertaken.”


Background

Ventnor is focused on three projects in Western Australia:

- Biranup Project;
- Warrawanda nickel project; and
- Thaduna / Green Dragon Project (Sandfire earning 100%).

Ventnor was recently granted its flagship Biranup Project, which is prospective for gold and base metals.

The company has conducted a preliminary exploration program comprising mapping, rock chip sampling and has completed an initial drill program on the Black Dragon gold prospect.

The Warrawanda nickel project is located 40 kilometres south of Newman in Western Australia.


Biranup project opportunities

Two moving loop electromagnetic (MLEM) geophysical surveys were undertaken at the Silver Dragon and Fire Dragon prospects, including an extension to the Fire Dragon survey following a strong response at the margins of the original survey area.

The Silver Dragon and Fire Dragon prospects are located within the Biranup Project area, 370 kilometres north-east of Kalgoorlie.

Silver Dragon is a copper-nickel target generated from magnetic data and geochemical assays.

Fire Dragon is a priority exploration target identified in a large airborne electromagnetic survey.

Work by Ventnor has identified multiple exploration targets on the 140 square kilometre area, which are prospective for various minerals as well as gold.

The company has an extensive database of previous exploration work.

Adding to the prospectivity of the area, the Biranup Project is proximal to the Tropicana gold mine owned by AngloGold Ashanti and Independence Group.

Tropicana commenced production in 2013 and contains a resource in excess of 4 million gold ounces.