$UPERMAN
11 years ago
Vantex Raises $63,600 in Flow-Through Units
Vantex Resources Ltd. (the "Company")(TSX VENTURE:VAX) announces the completion
of a $63,600 non-brokered financing.
The Company sold 53 Flow-Through units (the "FT Units") at a purchase price of
$1,200 per FT Unit, for a total amount of $63,600. Each FT Units consists of
20,000 flow-through common shares at a price of $0.06 per share and 20,000
common share purchase warrants. Each whole warrant will entitle the holder to
purchase one additional common share in the capital of the Company until October
15, 2015, at a purchase price of $0.075 per share.
Proceeds of the FT Units will be used for the continuation of exploration of the
Galloway property in Quebec. The expenses will constitute Canadian exploration
expenses and flow-through mining expenditures (as defined in the Income Tax Act
(Canada)), which can be renounced to purchasers for the 2013 taxation year.
The securities issued as part of this placement are subject to a minimum hold
period of four-month-and-one-day period and subject to the approval of the TSX
Venture exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Source :
Guy Morissette
CEO
819-763-5096
http://www.vantexressources.com
JD400
11 years ago
June 07, 2013 Vantex To Proceed With Heap Leach Tests On Hurd
La Prairie, June 7, 2013 -- The management of Vantex Resources Ltd., in collaboration with the Mineral Technology Research and Service Unit ("URSTM") of Rouyn-Noranda, started different heap leach tests in order to evaluate the gold recovery of the ore from the Hurd showing, located 1.5 kilometres north-east of the GP showing.
The Hurd showing is mainly composed of highly fractured, mineralized and altered rocks containing low grade gold values on widths of 100 metres. This showing is accessible from surface and was intersected at depths of more than 200 metres. It remains open in depth and laterally. In fact, given the fracturing and oxidation of the rock, this showing resembles a gold bearing gravel pit.
If the results from the tests undertaken at URSTM are conclusive, management will follow up with more important tests directly on the field. Additional drilling will also be necessary to have a better estimate of the resource.
Management is also discussing with URSTM in order to proceed with gravimetric, mineralurgical and metallurgical tests on gold ore from the Moriss zone. The main objective is to verify if the gold is directly associated with sulfides or if it is freely distributed within the matrix.
These works are under the supervision of Charles Beaudry, geologist and Daniel Kelly, consulting geological engineer and Qualified Persons under NI-43-101.
Otherwise, we wish to thank Denis Bélisle and André Brosseau for their advice and contribution to the board of directors and the Company, as directors and officer. Unfortunately, due to their busy schedules, they submitted their resignations.
JD400
11 years ago
TSXV:VAX La Prairie, May 8, 2013 -- The management of Vantex Resources Ltd. (the « Company ») announces a gold intersection grading 137.9 g/t Au over 1.4 metre in drill hole VM13-08 at vertical depth of 180 m. This section is located in the west extension of the Moriss zone and contains visible gold within a smokey quartz vein.
The Company completed 2,000 metres for 9 drill holes located in the east and west extensions of the Moriss zone. All the drill holes, from the Company's interpretation, intersected the targeted zone and anomalous gold was present in most of them. The west extension of the Moriss zone as well as the other gold zones previously encountered remain open for exploration.
The management of the Company will analyse those results to improve its knowledge on the zone. With this new data, it seems that the gold concentration corridor would dip west instead of east, as was the previous interpretation. Management will adjust the remainer of its drilling program to reflect the new analysis.
« It's an interesting first pass as it allowed us to better understand the environment and gold distribution within this mineralisation corridor. We see on a regular basis, the presence of visible gold in our drill cores which we beleive could create a nugget effect during the assays. More tests will be necessary to verify this hypothesis. A series of metallurgic, gravimetric and mineralogic tests will likely be conducted with the URSTM (Unité de recherche et de service en technologie minérale) on samples from the two main known zones ( Moriss and N1 ). Drilling will resume as soon as we access the new data. The Company will also proceed with laboratory heap leaching tests to evaluate the gold recovery potential of the Hurd zone, located 1,000 metres north-east of the GP zone. This zone mainly contains pieces of rocks that are altered, fractured, crushed and weatherproofed and it could offer an interesting potential for heap leaching. The presence of gold in this area shows on widths of more than 100 metres and the zone is known on more than 200 metres vertical depth.» to mention Mr. Guy Morissette, CEO of the Company.
We also note the presence of many gold structures parallel to the Moriss zone. These zones will also have to be investigated in the next drilling campaign. Namely, the N1 and M2 zones, which have showed promising gold potential. A series of input anomalies (conductivity anomalies) parallel to the main zone and located just north of it will be drill tested during 2013.
In order to prevent shareholder dilution, management intends to do small financings and will also be looking to sell some assets like the block of shares that it holds from other mining companies as well as a 1.5 % NSR on the Heva project. The Company also evaluates the possibility of joint-ventures with other companies for the continued developement of the different mining blocks comprised in the Galloway project.
http://www.vantexressources.com/s/NewsReleases.asp?ReportID=583913&_Type=News-Releases&_Title=Vantex-Intersects-137.9-GT-Au-over-1.4-M-on-Moriss
JD400
11 years ago
Yep Yep I hear You HR It's the only way to win in the gold mining markets right now. I'll use MUX as an example. Even with MUX at that 1.96 low pps right now it's still up +17.37% from it's last low of 1.67. I too will be adding more VANTEX at these fantastic low prices.
If they go lower, than so be it. We will know we added at a great place in the pps. Good Luck Bro
GO TSXV:VAX,MUX,VANTF,Vantex, LEXAM,LEX, TNR,
JD400
11 years ago
Another Great Intersect 137.9 g/t Au They Call
that a million dollar hole. Not forgetting about the other one at 855.0 g/t Au. OMG, That one could be called a billion dollar hole.
These rich gold values is why Rob is attracted because holes like these were what made goldcorp so profitable back in his early days.
Massive amounts of Gold.
The presence of gold in this area shows on widths of more than 100
metres and the zone is known on more than 200 metres vertical depth.
(These are Huge veins)
We also note the presence of many gold structures parallel to the Moriss zone.
These zones will also have to be investigated in the next drilling campaign.
Namely, the N1 and M2 zones, which have showed promising gold potential. A
series of input anomalies (conductivity anomalies) parallel to the main zone and
located just north of it will be drill tested during 2013.
( The shear power of the golden triangles abundance could be full of healthy rich gold deposits ones that miners only dream about )
In order to prevent shareholder dilution, management intends to do small
financings and will also be looking to sell some assets like the block of shares
that it holds from other mining companies as well as a 1.5 % NSR on the Heva
project. The Company also evaluates the possibility of joint-ventures with other
companies for the continued developement of the different mining blocks
comprised in the Galloway project.
( All in All Very Nice News.
VANTF still holding steady at 0.102 now for over a month, I'm in that one.
http://ih.advfn.com/p.php?pid=nmona&article=57474449&symbol=VAX
JD400
11 years ago
Ever Wonder Who Would Take Over This Company
McEwen puts Vantex Resources on the map, stock up 20%
Vantex Resources (TSX VENTURE:VAX)(FRANKFURT:UD7A) caught the attention of investors on Tuesday after the company announced mining veteran and Goldcorp founder, Rob McEwen (pictured in 2010), bought 500,000 shares in the company on the open market.
McEwen now owns a total of 7.8 million shares which represents approximately 12.4% of the company's currently issued and outstanding shares. The additional shares were purchased in the open market on September 28, 2012.
Vantex shot up 20% at the open giving the micro-cap a value of $7.5 million on the venture board in Toronto. Vantex has approximately 63 million shares issued and outstanding.
The Toronto-based explorer has $1.7 million in the bank and $410,000 in 2011 exploration tax credits due from the Government of Quebec.
Vantex' primary asset is the Galloway gold project in the Abitibi-Temiscamingue region of Quebec
http://www.mining.com/mcewen-puts-vantex-resources-on-the-map-stock-up-20-92014/
JD400
11 years ago
Vantex Updates on Current Drilling on the Moriss Zone of the Galloway Project.
La Prairie, April 3rd, 2013 -- The management of Vantex Resources Ltd. (VAX-TSX V) provides an update on its drilling campaign currently underway. 4 drill holes for 900 metres have now been completed on the Moriss zone. These 4 drill holes are testing extensions at depth for this gold zone.
The 4 drill holes intersected a shear zone, corresponding to the Moriss zone, on widths of 6 to 25 metres. The shear zone presents a strong alteration containing carbonates as well as silicification and pyrite mineralization between 1 to 25%. The zone was intersected at vertical depths between 190 and 220 metres.
The 5,000-meter drilling campaign is still underway and assay results should be available in the coming weeks. The works are supervised by Daniel Kelly, consulting geological engineer and Qualified Person under NI 43-101.
Location of drill holes : http://media3.marketwire.com/docs/MorissDrilling.pdf
The Moriss zone is an important gold showing located in the west part of the Galloway project and within the Golden Triangle which is outlined by the GP, Hendrick and Moriss showings. All these showings are located within an area of 500 metres.
The Moriss zone is associated with a east-west shear zone, dipping north 44 to 50 degrees, located on the south contact of an intrusive porphyric in feldspath strongly carbonatized-sericitized (with traces of fucshite). Previously, the presence of the Moriss zone was confirmed by 16 of our drill holes. In the Moriss area, we also observe the presence of at least two other gold zones, the N and M2 zones.
This press release was read and approved by Mr. Kelly.
http://www.vantexressources.com/s/NewsReleases.asp?ReportID=578865&_Type=News-Releases&_Title=Vantex-Updates-on-Current-Drilling-on-the-Moriss-Zone-of-the-Galloway-Proje...
JD400
11 years ago
VAX Capital Structure
As of July, 2012
Exchanges:
TSX,Venture; Frankfurt
Symbols: VAX
Shares Issue:
62,962,579
Warrants:
3,482,000
Options:
5,260,000
Fully diluted:
71,704,579
52 wk price
$0.06-$0.23
Cash Position:
$1.7 million
Debt:Nil
Funds and Large Investors:
Rob McEwen 11.55%
Feb Hard Asset Fund 6.20%
Respected Team
Guy Morissette,
CEO 30 years Experience
Denis Tremblay
CFO 20 years Experience
Fred Archibald
P.Geo
36 years Experience
Daniel Kelly P. Eng.
15 years Experience
JD400
11 years ago
Nice Drilling Update
Vantex Updates on Galloway Drilling
Date : 12/20/2012 @ 8:00AM
Source : MarketWire Canada
Stock : Vantex Resources Ltd. (VAX)
Quote : 0.13 0.005 (4.00%) @ 12:07PM
Vantex Updates on Galloway Drilling
Print
Alert
Vantex Resources Ltd. (TSX VENTURE:VAX) (FRANKFURT:UD7A) announces the
completion of its 2 drilling programs for a total of 10 holes and 2,900 metres.
The first drill hole located 2.2 kilometres from the GP zone intersected an
important mineralized alteration zone on more than 80 metres while the two
following holes intersected an important zone that is fractured, altered and
mineralized. This intensively fractured zone could be linked to the Victoria
Creek Fault that intersects a good part of the Galloway property.
A fourth drill hole located 850 metres north-east of the GP zone, intersected a
zone highly mineralized with pyrite that is probably linked to the IP anomaly
previously identified by surface work. This IP anomaly is at least 500 metres in
length and is located within a magnetic low.
Two additional drill holes located north of the GP zone also intersected many
altered and mineralized zones.
Four other drill holes totaling 900 metres were completed to the extreme west of
the Moriss showing (approx. 550 metres). The objective of this program was to
test different magnetic targets of low and high intensity previously identified
this Fall. 3 drill holes intersected altered, silicified and mineralized zones
within this sector.
"These two drilling programs allowed us to verify different geophysical targets
located in the extensions of the GP and Moriss zones. Visually, we are satisfied
with what we have intersected and are eagerly awaiting assay results." commented
Mr. Guy Morissette, CEO of Vantex.
Assay results should be available soon after the begining of 2013.
The assays are performed by Laboratoire Expert of Rouyn-Noranda and the works
are under the supervision of Daniel Kelly, consulting geological engineer and
Qualified Person under NI 43-101. Mr Kelly read and approve this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Source :
Guy Morissette
CEO
www.vantexressources.com
For information :
Wayne Carlon
VP Business Development
Tel: 902-857-1043
waynecarlon@eastlink.ca
JD400
11 years ago
Vantex Acquires the Lac Fortune West Property.
La Prairie, November 7, 2012 -- Vantex Resources Ltd. (« Vantex » or the « company ») - TSXV:VAX) is pleased to announce the conclusion of an agreement with Golden Share Mining Corporation allowing Vantex to purchase a 100 % interest in the Lac Fortune West property located in the Dasserat Township, in Abitibi.
Adjacent to the east border of the Galloway project, the Lac Fortune West property comprises 17 claims covering an area of 390 hectares and is strategically located on the Cadillac Fault. It is also interlinked within a block of claims and cells owned by Richmont Mines Inc. (« Richmont ») and located very near the Francoeur mine.
Location Map : media3.marketwire.com/docs/lac-fortune2.pdf
''This new acquisition fits very well into our corporate development philosophy since it allows us to significantly increase our presence along the Cadillac Fault as well as positioning ourselves strategically within the geological environment of the Francoeur and Wasamac mines as well as other gold deposits known in this area. Also with this acquisition, Vantex will benefit from $1.8 millions of previous exploration expenses registered at the Quebec Ministry of Natural Resources. This will provide us with a reasonable guarantee that our claims will stay in good standing for the next decade or so while allowing us to increase the value of our Galloway project.'' commented Mr. Guy Morissette, CEO of the company.
Richmont has announced its intention to restart production at the underground Francoeur gold mine in 2012-2013. The Francoeur gold mine owned by Richmont Mines ("Richmont") is part of a group of 11 similar deposits located within the Francoeur-Wasa shear zone, a very important east-north-east trending regional gold bearing structure which transects the northeast corner of the Lac Fortune West project. The principal deposits located in the Francoeur-Wasa shear zone have produced over 500,000 ounces of gold from approximately 2.6 million tonnes of ore with a recovered grade of 6.07 g/t of gold (Richmont Mines Inc. press release dated August 7th 2009).
The Lac Fortune West project hosts the South King Zone, an east-west trending gold zone recognized by drilling over a strike length of 780 m and located 500 m south of the Francoeur-Wasa shear zone. It displays several geological similarities with the Francoeur-Wasa shear zone orebodies, notably mineralization hosted at an andesite - gabbro lithological contact in close spatial association with an hematite - altered felsic intrusive showing some local breccia textures. The best diamond drilling by previous operators yielded the following mineralized intercepts * :
Drilling by Search Gold Resources Inc. in 2004 - 2005 :
855.58 g/t Au over 0.35 m from 29.83 to 30.18 m
60.43 g/t Au over 0.27 m from 69.18 to 69.45 m
16.81 g/t Au over 0.50 m from 42.23 to 42.73 m
1.02 g/t Au over 11.43 m from 73.90 to 85.33 m
1.83 g/t Au over 10.94 m from 72.50 to 83.44 m (including 11.42 g/t Au over 1.50 m)
1.21 g/t Au over 11.37 m from 52.73 to 64.10 m
1.74 g/t Au over 6.20 m from 40.82 to 47.02 m
1.48 g/t Au over 7.32 m from 32.39 to 39.71 m
Drilling by Forbex Resources Inc. in 2001 :
10.30 g/t Au over 2.75 m from 57.10 to 59.85 m
1.13 g/t Au over 12.40 m from 44.40 to 56.80 m
* This information was taken from a Golden Share press release dated September 19, 2009.
The presence of both higher grade intercepts and mineralization over broad intervals clearly demonstrate the potential of the South King Zone. Additionally, the geological setting of the mineralization, which is associated with shearing in a felsic intrusive hosted in a gabbro along with the presence of hematite and fuchsite alteration, shows key positive indicators for the sector.
Vantex will finalise the transaction by paying $100,000 in cash and issuing 1 million common shares of the company to Golden Share. Golden Share will retain a 1% NSR and Vantex will also pay a $5000 annual advance royalty (1.5% NSR) to the original owner of the property.
This agreement is subject to the approval of regulatory authorities and transfer of the claims to Vantex.
Exploration Update
A 90-kilometre ground geophysical Mag survey was completed on the Hurd and Renault Bay blocks as well as on the north section of the Perron block, west of the Moriss zone. This survey was necessary to better outline the anomalous magnetic zones detected in the previous airborne survey that took place last summer.
Also, management of the company obtained all the required permits to start the drilling campaign in the north-east section of the GP showing, as previously mentioned in the October 2 press release. The campaign is starting this week.
Finally, in order to test geophysical targets that are possibly located in the same geological environment of the Moriss zone, the company is planning another drilling program for 1000 metres on a claim located 400 metres west of this important gold showing. This drilling program will start as soon as the required permits are delivered, around December 2012.
Financing
Vantex management completed a $263,400 private placement. The company sold 219.5 flow-through units (the "FT Unit") at a cost of $1200 per FT Unit, for a total of $263,400. Each FT Unit comprises 8000 flow through common shares and 2000 common shares at a price of $0.12 per share as well as 5000 share purchase warrants. Each warrant allows its holder to purchase one additional common share of Vantex at a price of $0.15 for a period of 12 months following TSX approval.
In connection with this financing, Avenue Capital Markets Inc. will receive a cash commission of $19,440 and 166,000 Broker warrants. Each Broker warrant will allow its holder to purchase one additional common share of Vantex at a price of $0.12 for a period of 12 months following TSX approval. Canaccord Genuity Corp. will also receive a $480 cash commission.
The securities issued as part of this financing are subject to a minimum hold period of 4 months and one day and to the approval of the TSX Venture Exchange.
About Vantex
Vantex' primary asset is the Galloway gold project in the Abitibi-Temiscamingue region of Quebec. The property can be accessed easily by road, from Trans-Canada Highway 117 and is 30 kilometers west of Rouyn-Noranda. The company is focusing on its three main gold zones known as: GP, Hendrick and Moriss. These three gold zones, referred to as the golden triangle, are in close geographic proximity. Vantex recently drilled 59.51 g/t gold over 6.2 metres at Moriss, along the hole. For more information on the Golden Triangle visit www.vantexressources.com or view current drill holes on the on www.corebox.net.
The drilling on the Moriss showing will resume as soon as the government agencies issue the claims extension permit to Vantex. Management has reasonable expectations that it will be delivered this fall but cannot guarantee it.
Vantex has approximately 65 million shares issued and outstanding. As of July 31, 2012 the company has $1.7 million in cash and $410 thousand in 2011 exploration tax credits due from the Government of Quebec.
Mr. Daniel Kelly, a Qualified Person under NI 43-101, has read and approved this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
-30-
Source :
Guy Morissette
CEO
www.vantexressources.com
For information :
Wayne Carlon
VP Business Development
Tel: 902-857-1043
waynecarlon@eastlink.ca
JD400
12 years ago
Rob McEwen Increases Stake in Vantex
La Prairie, October 2, 2012 - Vantex Resources Ltd. (TSX-V: VAX) is pleased to announce that well known mining executive and investor, Rob McEwen, has increased his stake in Vantex by 500,000 shares bringing his total investment to 7.8 million shares. This represents approximately 12.4% of the Company's currently issued and outstanding shares. The additional shares were purchased in the open market on September 28, 2012.
Vantex also announces the resumption of drilling on the Galloway project, located in the Rouyn-Noranda mining camp in Abitibi-Temiscamingue. The Company has developed geophysical targets from the recent airborne survey and compiled historical drill results from Kerr Addison and Silver Century between 1986 and 1996. A 2,500 meter drilling program will test some of these targets, identified by Daniel Kelly and Fred Archibald, both consulting geologists and Qualified Persons under NI 43-101.
Targets located 400 meters NNE of the GP zone will be drill tested to verify the historical data and investigate the contact between zones of high and low magnetic intensity. Some historical drill holes indicated the presence of gold, silver, lead, copper and zinc within this environment.
The Company is planning some drilling north of the Hurd showing. Previous drilling from Kerr Addison, Silver Century and Vantex showed promising gold occurrences in this area. The drilling will try to verify the existence of gold in association with the Victoria Creek Fault as well as with high intensity magnetic anomalies.
In the area of the Chalet showing located some 2 kilometres NE of the GP zone, the Company plans some drilling in order to test a conductivity anomaly.
Drilling at the Moriss zone will resume as soon as the Quebec Government grants Vantex the right to extend its claim package and issues an exploration permit. Management hopes this will occur this fall, but cannot make any assurances to that effect.
About Vantex
Vantex' primary asset is the Galloway gold project in the Abitibi-Temiscamingue region of Quebec. The property can be accessed easily by road, from Trans-Canada Highway 117 and is 30 kilometers west of Rouyn-Noranda. The company is focusing on its three main gold zones known as: GP, Hendrick and Moriss. These three gold zones, referred to as the golden triangle, are in close geographic proximity. Vantex recently drilled 59.51 g/t gold over 6.2 metres at Moriss, along the hole. For more information on the Golden Triangle visit www.vantexressources.com or view current drill holes on the on www.corebox.net.
Vantex has approximately 63 million shares issued and outstanding. As of July 31, 2012 the company has $1.7 million in cash and $410 thousand in 2011 exploration tax credits due from the Government of Quebec.
Mr. Daniel Kelly, a Qualified Person under NI 43-101, has read and approved this news release.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION CONTACT:
Guy Morissette
Chief Executive Officer
Tel: (514) 712-9753
Fax: (450) 444-1776
822, boul. Taschereau
La Prairie, Québec J5R 1V9
Wayne Carlon
VP Business Development
Tel: (902) 402-6264
waynecarlon@eastlink.ca
http://www.vantexressources.com/s/NewsReleases.asp?ReportID=550867&_Type=News-Releases&_Title=Rob-McEwen-Increases-Stake-in-Vantex
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Hurricane_Rick
11 years ago
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