Vantex Resources Ltd.

Vantex Resources Ltd.

January 04, 2005 10:42 ET

Vantex Finds Visible Gold in 3 Drill Holes on Zone 70




JANUARY 4, 2005 - 10:42 ET

Vantex Finds Visible Gold in 3 Drill Holes on Zone 70

LA PRAIRIE, QUEBEC--(CCNMatthews - Jan. 4, 2005) - The management of
Vantex Resources Ltd is pleased to report that 3 of the 5 new drill
holes completed on the important LE04-70 gold zone showed visible gold.
These holes were drilled to verify in-depth continuity as well as the
orientation of this gold structure. According to the current data, it
would seem that the structure directly links with Section 1+50 West and
that it could be one of the main sources of gold for the Lake Expanse

Exploration works completed during Fall 2004

The latest exploration phase realized on the Lake Expanse Area, was
implemented to better understand the geological nature of Zone LE04-70
(see press release, February 2004) as well as to drill test its in-depth
continuity and orientation. The blasting of a 150-m3 trench was intended
to expose the mineralized zone previously intersected by drill hole
LE04-70. The detailed mapping of this zone compiled last summer
indicated that hole LE04-70 probably encountered the intersection of two
mineralized sheared zones (WNW-ESE dipping 80 degrees NW and NE-SW
dipping 80 degrees SE). The surface blasting exposed new geologic strata
which, in spite of an altered sub-horizontal fissure system (carbonates
and sulphides), showed the presence of many mineralized translucid
quartz veins, containing pyrite and pyrrhotine. The presence of gabbro
and sheared lamprophyres was also observed in the blasted trench. This
blasting information was subsequently utilized to position the five new
drill holes(LE04-122 to LE04-127) mentioned in the first sentence of
this news release.

Drill holes LE04-122 to LE04-127, totalling 285 metres, have all
intersected the mineralized gold zone. Note that drill hole LE04-124 is
a re-drill of hole LE04-123, which was aborted after being stuck in a
sand fissure.

The mineralized core sections coinciding with Zone 70 were recently
sawed at the core shack of the Ministere des Richesses Naturelles, in
Rouyn-Noranda, and the assay results should be available in January
2005. Visible gold was observed in drill holes LE04-124, LE04-125 and
LE04-127. The mineralized zones containing pyrite, pyrrhotine, galena
and visible gold, are observed on lengths of 5.15 metres to 16.5 metres.
Following the expected results, the LE04-70 gold zone can now be
extended vertically, to at least 30 metres in-depth.

Furthermore, following the interpreted dip, it now seems possible to
link this Zone 70 to the one intersected on section 1+50 W. As a
reminder, drill holes LE04-56 and LE03-61, located 50 metres NEE and SEE
of LE04-70, intersected a gold zone that returned grades of 9.76 g/mt
and 7.06 g/mt on de 5.1 and 4.2 metres respectively. These drill holes
intersected the gold zone at 70 and 135 metres in depth.

The 2005 Program

The management of the Company hired Envireo Conseils Inc., of
Rouyn-Noranda, in order to obtain all the necessary permits for the
realisation of a 30,000-metric ton bulk sample program. This bulk sample
will enable the company to test the ore grades as well as to understand
the in-depth gold zones. Management plans to hire, in the coming weeks,
a firm that is specialized in this type of work in order to start this
program, early spring.

At the same time, the Company also wants to test many secondary gold
veins by thermal fragmentation.

The Guillet property

The Guillet property is located in Temiscamingue, Que., five kilometres
East from the town of Belleterre. The main Lake Expanse gold showing,
which is at the centre of the property, is located 300 metres from the
main road and from electric lines. The Guillet property is a South and
East frontier of the former Belleterre mine, which produced in its mine
life, more than 2.2 million tonnes at more than 10 grams of gold per
tonne. Originally composed of 16 claims (approximately 640 acres), the
company acquired in the last months, adjacent properties, and now has 95
claims for a total area of around 3,800 acres.

Vantex began its exploration program on the Guillet property during the
spring of 2003 along zone A. Since then, five additional gold zones have
been identified (zones AB, B, BC, C and D). Since last fall, the company
focused on zones B and BC. Close to 10,000 metres of drilling was
carried out along 130 holes. The majority of the holes intersected
mineralized structures of economical to sub-economical grades. The main
gold structure appears to be laterally folded along a strike length of
350 metres. The average thickness of the alteration zone is about 20


Contact Information

    Vantex Resources Ltd.
    Guy R. Morissette
    Executive president
    (514) 712-9753
    Vantex Resources Ltd.
    Edouard Chartre
    Vice-president exploration
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    responsibility for the adequacy or accuracy of this release.