Vantex Resources Ltd.

Vantex Resources Ltd.

May 08, 2013 09:00 ET

Vantex Intersects 137.9 g/t Au Over 1.4 M on Moriss

LA PRAIRIE, QUEBEC--(Marketwired - May 8, 2013) - The management of Vantex Resources Ltd. (the « Company ») (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) 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.

Drill holeZoneArea Depth Length* Grade AuGrade Ag
(metres) (metres) G/T AUG/T AG
VM13-01N2East 42.0 - 43.50 1.50 1.54
VM13-04MorissWest 153.40 - 157.50 4.10 1.56
VM13-05MorissWest 126.00 - 127.60 1.60 1.35
VM13-08MorissWest 203.20 - 203.60 1.40 137.916.6
VM13-12N2East 99,50 - 100,50 1,00 4.96
VM13-13MorissEast 220,00 - 223,35 3,35 1.52
VM13-15N2East 199,70 - 200,80 1,10 1.53
MorissEast 211,00 - 212,60 1,60 4.06
VM13-16Non significant
VM13-18Non significant
* Length along the hole.

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.

Exploration works were supervised by Daniel Kelly, geological engineer and Qualified Person under NI 43-101. He read and approved this press 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.

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