VANTEX AND GOLD MINING IN CANADA
Even for the prolific Abitibi region, there is a remarkable concentration of gold mines and showings in the area of Dasserat Township. Along much of the Kirkland Lake-Larder Lake-Cadillac Break, and prominently in the Lac Dasserat area, gold bearing zones share the character of multiple, scattered, high-grade pockets lacking strong continuity. This kind of irregular gold distribution has, in the past, added uncertainties to the calculation of resources, and necessitated slow, expensive, labour-intensive extraction (mining) methods. Over the last decade however, a fundamental technological hurdle has been cleared, reinvigorating many historic mining districts: it has been demonstrated that modern, mechanized bulk mining methods can be applied in cold, glaciated regions such as the Canadian Shield. This enables the consolidation of multiple, discrete higher-grade resources into much larger, lower grade, economically minable units, as exemplified by the vast Meadowbank and Canadian Malartic mines. Recent, positive PEA (preliminary economic assessment) studies at Prodigy's Magino Project, Osisko's Hammond Reef project, Aurizon's Joanna Project etc, have economically feasible cut-off grades as low as 0.3g Au per tonne at a $1000.00 per oz gold price. In combination with electronically directed, concentrated resource drilling, many of the historical challenges to gold mining in the shield can be reduced or eliminated.
This game-changing new approach to Canadian gold mining was recognized by the management of Vantex Resources. The president of Vantex Resources, Mr. Guy Morissette, was able to amalgamate 7 separate claim groups. Some of these claims had been closely held for generations. The result was the acquisition of their flagship Galloway Project. There are at least 10 named, drilled Au and Au-Cu (-Mo) showings on the claims plus multiple occurrences. The potential of these claims had previously attracted companies such as Kerr-Addison, Minnova, Noranda, Silver Century, Agnico Eagle, Payrock Mines, Pitchvein Mines, Wright-Hargreaves, and many others. Extensive exploration work produced abundant historical exploration data which highlighted the new potential of this ground when placed in a 21st century context. Upon its acquisition by Vantex, historical drilling on the Galloway occurrence (not compliant to NI43-101 standards) showed multiple drill intersections of 50 to 100+ metres over 1g/t Au. Since then, the Au-bearing envelope has been greatly expanded by Vantex Resources' drilling, with continuous gold-bearing intersections in the 100's of metres becoming commonplace. Currently an NI43-101 compliant resource estimate is underway, being prepared by SRK Consulting, Toronto office, and is expected in the autumn of 2011, and ongoing drilling continues to add to the size of the Galloway Zone.