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Wed, January 16, 2013 Vantex Expands Land Position at Moriss Zone Exploration to Target High Grade Extensions
January 16, 2013 09:00 ET
Vantex Expands Land Position at Moriss Zone Exploration to Target High Grade Extensions
LA PRAIRIE, QUEBEC--(Marketwire - Jan. 16, 2013) - Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is very pleased to announce that the Quebec Ministry of Natural Resources and Wildlife has granted to Vantex the right to explore on the property to the north and west of the high grade Moriss zone. The new property expands the land position adjacent to the Moriss zone by 100 hectares, and is thought to host the lateral and depth extensions of existing mineralization discovered there including 59.5 gpt gold over 6.2 meters in hole VPE12-50. A 5,000 meter drill program is planned to start on the new property in February.
"We are very pleased to finally receive this property extension. It gives us the exciting opportunity to test the full potential of the Moriss zone. Our exploration program has been ready for many months and we plan to start drilling in February, providing enough time to complete a financing and build access to the new drill sites" stated Mr. Guy Morissette, CEO of Vantex.
Location Map : [ http://file.marketwire.com/release/Location_map.JPG ]
Golden Triangle: [ http://file.marketwire.com/release/Golden_Triangle.JPG ]
New area to drill: [ http://media3.marketwire.com/docs/Drill_map.pdf ]
Located in the west part of the Galloway property, the Moriss zone was discovered at the end of 2010, and together with the GP and Hendrick forms the Golden Triangle area. Fifty (50) drill holes were completed on the Moriss zone since 2010, and those results show the presence of an important gold system comprised of several zones with economic grades.
The following table shows highlights from previous drilling at Moriss:
| Hole | Zone | From (m) | To (m) | Length (m) | Grade g/t Au |
| VPE10-02 | Moriss | 87.00 | 91.75 | 4.75 | 5.81 |
| VPE10-06 | Moriss | 97.50 | 108.00 | 10.50 | 4.55 |
| VPE10-10 | Moriss | 101.00 | 106.35 | 5.35 | 11.60 |
| VPE10-11 | Moriss N | 84.00 | 106.00 | 22.50 | 8.21 |
| and | 146.75 | 153.00 | 6.25 | 3.53 | |
| VPE10-17 | Moriss N | 106.30 | 112.20 | 5.90 | 5.06 |
| VPE10-18 | Moriss N | 48.00 | 57.00 | 9.00 | 7.97 |
| VPE10-19 | Moriss | 103.50 | 107.65 | 4.15 | 18.43 |
| VPE10-21 | Moriss N | 124.50 | 135.00 | 10.50 | 1.85 |
| and | Moriss | 145.50 | 150.00 | 4.50 | 1.86 |
| VPE10-23 | Moriss | 54.00 | 57.00 | 3.00 | 16.32 |
| VPE11-24 | Moriss | 98.60 | 103.90 | 5.30 | 24.90 |
| VPE11-25 | Moriss | 99.15 | 106.00 | 6.85 | 12.93 |
| VPE11-27 | Moriss | 107.30 | 114.00 | 6.70 | 3.95 |
| VPE11-28 | Moriss | 129.00 | 131.00 | 2.00 | 2.00 |
| VPE11-29 | Moriss | 45.00 | 47.00 | 2.00 | 7.32 |
| VPE11-30 | Moriss | 54.10 | 57.10 | 3.00 | 1.54 |
| VPE11-37 | Moriss N | 94.50 | 100.50 | 6.00 | 7.79 |
| VPE11-42 | Moriss | 98.6 | 103.6 | 5.0 | 5.11 |
| VPE12-50 | Moriss N | 58.00 | 64.20 | 6.20 | 59.51 |
| and | 117.85 | 122.90 | 5.05 | 5.09 |
| N = North |
Hurd
In a separate transaction the company purchased 20% of a 2% NSR (0.4%) that was held by the previous owners of the Hurd block for $50,000.
Belleterre
Aurtois Exploration Inc. fulfilled the first part of its obligation (cash and share payment) at the Guillet project. In order to acquire the 75% of the project, Aurtois must deliver an independent pre-feasibility study before 2016.
Technical Information
The information presented in this press release has been reviewed and approved by Daniel Kelly, geological engineer, a consultant to Vantex Resources and the Qualified Person responsible for the exploration program at the Moriss property. Mr. Kelly has read and approved this press release.
To learn more about Vantex Resources (TSX VENTURE:VAX), visit our website: [ http://www.vantexressources.com ].
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
