Welcome!

News Feed Item

Vantex and Aurtois to End Option Agreement on the Guillet and Ortona Properties

LA PRAIRIE, QUEBEC -- (Marketwired) -- 02/24/14 -- The management of Vantex Resources Ltd (TSX VENTURE: VAX)(FRANKFURT: UD7A)(ALPHA: VAX) announces, following a joint agreement with Exploration Aurtois Inc (TSX VENTURE: EXA), the acquisition of a 100% interest in the Belleterre Extreme-Est property (19 claims adjacent to Vantex Guillet property) in exchange of a cash payment of $10,000 and the issuance to Aurtois, of 1 million common shares of Vantex. Aurtois retaining no royalties.

Also, as part of this new agreement, Vantex Resources Ltd. announces the cancellation of the agreement dated January 16, 2012 regarding an option granted to Aurtois to acquire 75% of the Guillet and Ortona properties, both located in the Belleterre area, Temiscamingue, Quebec. Vantex will also cancel the remaining 445,000 Aurtois common shares that it is holding as part of the 2012 option agreement. This transaction is subject to the approval of the TSX Venture exchange.

The Guillet Property

The Guillet property is located 5 kilometres east of the town of Belleterre, Temiscamingue, Quebec. Comprised of 40 claims covering an area of approx. 609 hectares, the Guillet property contains many gold showings, namely the Lake Expanse showing where important exploration works took place.

The Guillet property covers part of a greenstone belt measuring 50 km by 10 km. The previous Belleterre Mine, located less than 2 km north west of Guillet, produced 2.2 million tons at 10.7 g/t Au (735,000 ounces of gold).

Vantex's work culminated with a bulk sample taken in 2005-2006 from the Lake Expanse gold zone. It returned 11,539 t @ 3.28 g/t Au. In the following year, 2007, Vantex retained Kelly and Gagnon to produce a resource estimate. Results were as follow:


Measured and Indicated: 320,950 t @ 2.62 g/t Au
Inferred: 76,570 t @ 2.31 g/t Au.

The Ortona Property

The Ortona property is located in the Guillet township and comprises 17 claims covering an area of 272 hectares. It sits on the north west border of the previous Belleterre Mine mining concession and 3 kilometres north west of the Guillet property, which is 100% owned by Vantex.

The main known showing on this property comprises a gold vein of a maximum width of 2.1 metre and located along a shear zone. A section of this gold vein was sampled on 21 metres and returned gold grades from 5.88 to 48.98 g/t Au (RP190-11). Other channel samplings returned gold grades between 2.18 to 78.9 g/t Au on widths between 0.3 metre and 0.7 metre (GM 10617).

The Belleterre Extreme-Est property

The property is located 3 km east of Belleterre and 60 km east of Ville-Marie, Temiscamingue, Quebec and is adjacent to Vantex 100 % owned Guillet property.

A resource estimate was performed in order to evaluate the gold potential of this project. The estimate resulted in 21,178 tons of ore indicated at 6.37 g/t Au and 33,465 tons of ore inferred at 5.47 g/t Au, for a total of 54,644 tons of ore at 5.77 g/t (0.17 on/t) Au (from 43-101 Technical Report by Mr. Donald Theberge, ing., M.B.A.. in May 2009).

Also, more recent work on the property identified a high grade gold structure. This large structural discontinuity is marked by the presence of a quartz-carbonates veins mineralized fracture system similar to the well known Abitibi orogenic-type deposits like the Sigma and Lamaque mines. The best channel results returned 32.23 g/t Au over 2 m and 21.73 g/t Au over 0.91 m by drilling. (Rapport Geologique - Programme de forages 2002, R. Roy P.Geo, Janvier 2003). The mineralisation is located within a highly sheared corridor.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Adopting the right Digital Transformation strategy for your enterprise is crucial to keep up with rapid growth, customers' demands, and technological disruptions while remaining ahead of your market competition. Digital Transformation is no longer an option, it’s a requirement. Are you ready for tomorrow’s challenges? In his session at 20th Cloud Expo, William Morrish, VP of Commercial Operations at Interoute, will discuss these key takeaways.
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...