Venturex Resources Ltd (ASX: VXR) and joint venture partner Anax Metals (ASX: ANX) have announced the completion of JORC 2012 Compliant Mineral Resource for the Whim Creek Deposit at the Whim Creek Joint Venture Project in Northern Pilbara, WA.
The JV partners announced an updated copper resource of 2.41Mt @ 0.95% Cu (0.40% Cu cut) and zinc resource of 0.17Mt @ 3.00% Zn (2.0% Zn cut; Cu < 0.40%) for the Whim Creek deposit.
The updated Whim Creek Joint Venture project global resource inventory now stands at: copper resource of 8.25Mt @ 1.03% Cu (0.40% Cu Cut) and zinc resource of 1.28Mt @ 6.63% Zn (2.0% Zn cut; Cu < 0.4%).
JORC MRE for Whim Creek JV project
The Whim Creek Copper-Zinc Joint Venture Project is a joint venture between Anax Metals Limited (80%) and Venturex Resources Limited (20%).
The JV partners have now reported the Mineral Resources for the Whim Creek Deposit for the first time under the JORC Code since 2013, with the Mineral Resources now reported in accordance with the JORC 2012 Code.
The company said that the resource was completed following a re-evaluation of historic resource estimates of 1.0Mt at 1.4% Cu, 1.2% Zn, 0.2% Pb, and 8.7g/t Ag as previously reported by Venturex under the JORC Code 2004 for the Whim Creek Deposit.
Copper project tonnes increase by 37%
The JV partners said that the updated Mineral Resource was completed by independent resource consultancy, Trepanier Pty Ltd. The Mineral Resource was completed following a database audit and verification of historical data and a single diamond drill hole completed by Anax in late 2020.
The company said that the Whim Creek Project Resources contained Cu Tonnes increased by 37%. The Updated Whim Creek Project Global Resource included: Copper Resource: 8.25 Mt @ 1.03% Cu (0.40% Cu Cut); Zinc Resource: 1.28 Mt @ 6.63% Zn (2.0% Zn cut; Cu < 0.4%).
The Whim Creek Deposit Resources included: Copper Resource: 2.41 Mt @ 0.95% Cu (0.40% Cu cut) and Zinc Resource: 0.17 Mt @ 3.00% Zn (2.0% Zn cut; Cu < 0.40%)
The JORC 2012 compliant Indicated and Inferred Resource Estimate delivered by Trepanier Pty Ltd is as shown below.
The JV partners said that the revised Mineral Resource separated copper and zinc domains within the deposit, along with classifying the mineralisation into oxide, transitional and fresh.
The key changes between the updated JORC2012 Compliant Whim Creek Resource and the previous estimate are an increase in the Resource tonnage of ~1.535Mt. The increased tonnage has resulted in the absolute Cu, Zn, and Pb grades decreasing by 8.7%, 15.5%, and 16.8% respectively, compared to the previous estimate. As a result, contained Cu metal has increased by ~7.5kt, Zn metal has increased by ~4.5Kt, and Pb metal has increased by ~0.9kt respectively.
The company said that the potential for lateral extensions has been identified and will be investigated through field reconnaissance and a detailed review of historical data. The company said that further details will be provided in subsequent releases.
Image Source: Venturex Resources Ltd