VANTEX RESOURCES LTD
SYMBOL : VTX –TSX V
La
Prairie, February the 27th 2007.
The management of Vantex is very pleased to
announce that drill hole LE07-206 has cut 62 g/t Au over 3.3
metres. True width is not yet known. This new gold
discovery is located some 850
metres to the north of the Lake Expanse
deposit.
Drill hole LE07-206 was
testing a low magnetometric anomaly related to the
Lake Guillet Fault and which extends for
approximately 4
kilometres.
In the Kelly showing, as it is called, gold is found at the contact
between a felsic tuff and a sheared basaltic unit,
close to the northern contact of the Lake Guillet
Fault.
As observed in drill hole
LE07-206, the core of the Lake Guillet Fault hosts
at least two talc-chlorite schist horizons. “Ultramafic
horizons are commonly observed close to gold bearing faults in Abitibi as
demonstrated by the Cadillac-Larder Lake Break. From a structural perspective, the
presence of such soft rock units within fault systems favours movements along
the faults and create opening which can channel gold bearing hydrothermal
fluids.” The geological
environment of this new discovery appears highly prospective according to the
company’s consulting engineer Mr. D. Kelly.
Drill Hole From/To Width Grade (metres) (metres) (g/t Au) LE07-206 206.40-206.85 0.45 439.56* 206.85-208.20 1.30 0.21 208.20-209.70 1.50 3.62 * Average of 4 tests (FA, gravimetric finish). The sample contained approximately 20 visible gold grains associated with sphalerite
Following this important
discovery, the company has decided to concentrate its actual drilling effort around
the new showing.
“The current drilling
program was aimed at testing the gold potential of certain geophysical and
geochemical targets. This result
is an important step forward in the exploration of the Guillet
Property as this discovery, which is located 850 metres to the
north of the Lake
Expanse deposit,
demonstrates well the potential of the rest of the property. Further north of the low mag axis, the gold potential of that area has been
confirmed by gold intercepts mentioned in historical reports (Audrey and Mudlake showings) and by the presence of the former Belleterre producer.
The latter is located less than two kilometres from the Kelly showing,
in a similar geological environment” according to M. Guy Morissette, president of Vantex.
Samples were prepared and
assayed at Laboratoire Expert of Rouyn-Noranda. Core
is stored at the company’s facility in Belleterre. Current program is being supervised by
qualified person Daniel Kelly (pro. Ing.) and consultant to Vantex. The latter also reviewed and approved
the present press release.
The Guillet Property
The property is made up of
123 claims covering 1,960
hectares.
It is found within a greenstone belts that is located approximately 5 kilometres to the
east of the town of Belleterre,
in the Temiscamingue region of Quebec.
The property is mainly
overlain by felsic to ultramafic
volcanic rocks (flows and tuffs), locally sheared and intruded by sills and
dykes of diorite and gabbro which are occasionally
magnetic. Several shear zones cut
all geological units. Main gold
showings are: Lake
Expanse, Mudlake, Frontière, Gervais, Jolette, Audrey and
now Kelly.
Source : Guy R.
Morissette
Executive
President
514-712-9753
www.vantexresources.com
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