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Venturex Resources: Panorama Acquisition Completed

Venturex Resources Limited (ASX:VXR) (“Venturex") is pleased to advise it has now completed the acquisition of the Panorama Exploration Joint Venture assets (“PEJV”) from the existing joint venture partners CBH Panorama Pty Limited (“CBH”) and Sipa Resources Limited (“Sipa”), who held 60% and 40% of the PEJV respectively.
 
The Sale Agreement (refer to announcement dated 13 July 2012) was for the acquisition of nine tenements (M45/587, P45/2607, P45/2609-2614, P45/2616) covering an area of approximately 28 square kilometres to the south of the Sulphur Springs Project area including Kangaroo Caves Cu-Zn deposit together with the Nambucca, Breakers, Man O’War, Anomaly 45 and Jamesons prospects.

Michael Mulroney, Venturex’s Managing Director, said that: “The completion of the acquisition of the Panorama Exploration Joint Venture assets consolidates our dominant land position around the proposed centralised processing hub at the Sulphur Springs site and within the broader Pilbara region. The tenements, which includes the Kangaroo Caves deposit where recent drilling achieved excellent results, contains a number of high priority exploration targets.


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