|November 15, 2011|
Vantex Cuts 5.11 g/t Au Over 5 Metres on Moriss
|La Prairie, November 15, 2011 - The management of Vantex Resources Ltd. ( VAX-TSX V ) is pleased to announces a drill intersection of 5.11 g/t Au and 5.78 g/t Ag over 5 metres, along the hole in drill hole VPE 11-42. This intersection was found 100 metres in-depth along the hole and corresponds to the Moriss zone. |
Drill hole VPE11-41 that tested the in-depth extension of the North zone, intersected the zone over 6metres along the hole, grading 1.03 g/t Au and 1.03 g/t Ag. Intersected at 234 metres along the hole (180 metres vertical depth ), the North zone is still present and nothing indicates that the zone is not open more in-depth. Two more gold intersections were found at shallower depths, returned 2.52 g/t Au and 2.12 g/t Au over 1.50 metres each. Another in depth intersection was found at 300 metres and returned 1.84 g/t Au over 1.50 metres.
Assays from drill holes VPE11-44, VPE 11-45 and VPE11-46 are pending.
Management is planning a new 4,000-metre drilling program to verify a drill hole done by Kerr-Addison in 1988 ( KHD88-01 -- area of Moriss and Hedrick showings ) that intersected many gold zones including 5.14 g/t Au over 3 metres as well as the other gold-bearing zones that were found in the Hendrick area, as described in the table below:
In order to increase Vantex visibility across the country, management is planning to open an office in Toronto and is actively searching for a candidate with very good mining and finance knowledge as well as a strong background in Investor Relations.
Management is also evaluating different propositions from IR, financing and business development firms. The chosen firm will have the mandate to represent the Company towards investment communities in Canada, US and Europe. The goal is to make Vantex projects known and improve our market cap.
The management feels it's now necessary to invest in this area given the anemic state of the junior's market.
"We are now in competition with thousands of mining, gas and oil companies. In order to stand out, we need to develop our relations with mining investors, analysts, mining funds, etc. This includes setting-up an office in Toronto, hire specialized firms in investor relations and business development as well as recruting new candidates for management and the board of directors. These efforts along with our ongoing drilling programs should improve the market cap of the Company." declared the CEO of Vantex, Mr. Guy Morissette.
This press release was read and approved by Daniel Kelly, geological engineer and NI-43-101 Qualified Person.
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.
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