v.vax.....
looks interesting.... low floater 15m..
Vantex resumes drilling at Galloway
2010-03-31 11:22 ET - News Release
Mr. Guy Morissette reports
VANTEX RESOURCES LTD.: RESUMPTION OF DRILLING ON GALLOWAY
Vantex Resources Ltd. has resumed drilling on the Galloway project. The planned program of 10,000 metres will be concentrated in the area of the Galloway gold zone, the objective being to achieve an initial resource calculation under the 43-101 standard. A first phase of 1,500 metres will begin by early April. The management wants also, together with URSTM of Rouyn-Noranda, to conduct metallurgical tests to determine the various milling and environmental characteristics of the ore from the Galloway area.
The Galloway project
Composed of three mineral concessions, 63 claims and 35 lots covering an area of about 2,750 hectares, the Galloway project is located approximately 25 kilometres west of Rouyn-Noranda and just north of the Cadillac-Larder Lake deformation zone. The geological environment of the Galloway project is most favourable for the discovery of gold deposits.
The Galloway area, located between two faults, is now identified over a length of nearly 400 metres. Gold mineralization is mainly present in the lapilli tuffs and in the syenite porphyry. However, the Galloway zone remains open in its northeast (Hurd and Pitchvein zone) and its southwest extensions (zone Perron). Several drill holes in these extensions demonstrate a continuity of more than one kilometre northwest and 500 metres to the southwest. Other historic drill holes also showed continuity to depth as the Galloway area has been intersected to a depth of 500 metres.
In a 2006 DIVEX report, diversification of mineral exploration in Quebec, they describe the Galloway area as follows: "The Cadillac fault represents an important metallotect in the subprovince of Abitibi. The absence of known deposit in the immediate area is partly due to the fact that the corridor of deformation of the Cadillac fault is obscured by a thick layer of sedimentary rocks of Proterozoic age belonging to the cobalt group. In fact, subsidiary structures uncovered in this area, the Francoeur-Wasa shear zone, hosts the Francoeur, Arntfield and Wasamac mines. Also found a few miles west of the Ontario border, the Kerr Addison mine (over 10 million ounces). The rocks belonging to the cobalt group cover areas potentially economically interesting."
Exploration work will be carried out under the supervision of consulting geologist and NI 43-101 qualified person Jeannot Theberge. Mr. Theberge has read and approved this press release.
Finally, the management wishes to thank Luc Pelletier, who, for personal reasons, decided to resign as a director of the company. Mr. Pelletier will however continue to assist the management of the company as an independent consultant. He will be replaced on the board of directors by Richard David. Mr. David is currently director at the Royal Papineau Outaouais complex. He has previously held various positions as director and manager in the private sector. His expertise will be of immense value to the company.
AI
