NewsVantex Provides an Update on the Moriss Zone of the Galloway Project
1/4/2011 9:00:01 AM - Market Wire
LA PRAIRIE, QUEBEC, Jan 4, 2011 (Marketwire via COMTEX News Network) --
The management of Vantex Resources Ltd. (TSX VENTURE:VAX) announces that it has now completed 8 drill holes on the Moriss zone for a total of 2,000 metres. These holes were located in the new Moriss gold zone that was discovered last fall on the Galloway project. This zone is located 600 metres west of the GP gold showing (Galloway-Pitchvein).
From the 8 drill holes, five (VPE10-17,18,19,20 and 21) were performed in order to test the down dip extension of drill holes VPE10-02, VPE10-06 and VPE10-13. These intersected important mineralized zones where they were expected to be found. Drill hole VPE10-19 located west of drill hole VPE10-13, showed visible gold in many areas.
Drill hole VPE10-22 was done 50 metres east of VPE10-06 while VPE10-23 was done under VPE10-14, at 100 metres to the east of VPE10-06. Both of these holes were located in a way to intersect the mineralized zones down dip.
The drilling campaign for the remaining 1,000 metres on the Moriss zone will resume as soon as all the results from the current drilling are received, compiled and interpreted. The assay results will be released as soon as they become available.
"We are pleased to see that we intersected the mineralized zones where we expected them to be. This shows good lateral and in-depth continuity. Visible gold was also observed on one of the drill holes. We are also progressing with our request with Quebec's Natural Resources department to increase the property north of the Moriss zone." commented Mr. Guy Morissette, CEO of Vantex.
Geophysics
Many IP anomalies were outlined and according to Mr. Gerard Lambert, writer of the geophysics report, an IP anomaly that is 250 metres long would correspond to the Moriss zone. Another anomaly of similar dimension, located 150m east of Moriss, is described as being potentially linked to the east extension of the Moriss zone. The east extremity of this second anomaly is located on the north-west corner of the Galloway-Pitchvein zone. Two more anomalies were also outlined more to the south, close to the Hendrick showing.
The description, preparation and shipping of the samples from the Moriss and GP zones are underway. The works are under the supervision of Mr. Jeannot Theberge, geologist and Qualified Person under NI 43-101. This press release was read and approved by Mr. Theberge.