september quarter 2012 activity report: for … · september quarter 2012 activity report: ... 14.4...

29 October 2012 ASX ANNOUNCEMENT

SEPTEMBER QUARTER 2012 ACTIVITY REPORT: Australian base metals company Ventnor Resources Limited (ASX: VRX) (“Ventnor” or “the Company”) provides the following summary of exploration activity for the September quarter 2012. The Company continued to concentrate its exploration activities on the Phase 4 drilling program and Resource estimation at its flagship Thaduna/Green Dragon copper project. Exploration commitments were met on all other tenements and tenements are in good standing. Ventnor’s flagship Thaduna/Green Dragon Copper Project is located 170km north of Meekatharra, Western Australia, in the Doolgunna district, and 40km east of Sandfire’s DeGrussa project. The objective of the Phase 4 drilling program was to produce further data for the Resource estimation. However, with the discovery of significant high-grade zones of strong bornite mineralisation early in the quarter Ventnor increased the program by 6,000 metres. This resulted in the time for the Resource estimation being extended beyond the September 2012 quarter. During the period the Company still experienced slow assay turnaround times with approximately 700 samples in transit or in the laboratory with assays pending. Ventnor made two major announcements to the ASX during the quarter which summarise activities and progress at Thaduna/Green Dragon. The ASX announcement on 1st August 2012 was updated by a subsequent announcement on 27th September. The August 1st announcement had the following headline; “Significant high-grade discovery at Thaduna/Green Dragon Copper Project” And included the following highlights:

New high grade zone of strong bornite mineralisation discovered, central to the

Thaduna prospect

Diamond drilling continuing, approximately 600 metres

This new discovery reinforces the substantial exploration potential of the

Thaduna/Green Dragon Copper Project

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As well as the significant high-grade zone discovery of strong bornite copper mineralisation the high-grade intersections included;

5 metres at 7.00% Cu

○ includes 2.7 metres at 11.72% Cu and 29.7 g/t silver at a 5% Cu cutoff;

9.5 metres at 4.40% Cu;

10 metres at 3.26% Cu;







3 metres at 4.47% Cu.

Managing Director Bruce Maluish said this new high-grade discovery of strong bornite mineralisation as the primary sulphide has not only resulted in higher copper grades but it reinforced the Company’s confidence in this quality copper project. He went on to say; “The significance of the increasing presence of primary bornite, compared to primary chalcopyrite, lies in the increase in relative copper by weight %. Chalcopyrite, CuFe2+S2, is 34.6% Cu compared with Bornite, Cu5Fe2+S4, is 63.3% Cu, an increase of 183% in Cu for the same mass of sulphide”. Ventnor listed on the ASX in February 2011 and drilling at Thaduna/Green Dragon started in April 2011. From then until August 1st 2012 the four exploration phases have drilled 177 RC holes for 25,144m with 29 Diamond Tails for 3,758m, totalling 28,902m. A series of deeper holes were completed at Thaduna covering the central portion of the identified mineralisation and they identified a change in the sulphide mineralogy with primary bornite becoming the dominant source of copper mineralisation. Prior to this the intersected copper sulphide mineralogy had been either primary chalcopyrite or secondary chalcocite with specks of bornite observed. At this time the Company had analysis pending for a further 6 drill holes completed in the central zone. The Thaduna and Green Dragon copper deposits are low sulphur mineralising systems as evidenced by the lack of iron sulphides such as pyrite and pyrrhotite. A change in the primary copper sulphide mineralisation from chalcopyrite to bornite results in an increase in the copper tenor of the mineralisation.

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The effect of this increase can be seen in the increase in copper grades reported below, a specific example being THRC160 which returned 4 samples above 5% Cu and averaged 11.72% Cu over 2.7m down hole from 229.7m, two of these four samples both assayed 12.69% Cu and the dominant sulphide was bornite. Significant results include:

21 metres at 1.74% Cu from 171 metres (THRC164) ○ including 10 metres at 3.26% Cu from 171 metres downhole;

8.1 metres at 3.44% Cu from 225.9 metres (THRC161); ○ including 4.6 metres at 5.83% Cu from 225.9 metres downhole;

8.3 metres at 4.36% Cu from 225.7 metres (THRC160); ○ including 5 metres at 7.00% Cu from 228 metres downhole which ○ includes 2.7 metres at 11.72% Cu and 29.7 g/t silver from 229.7 metres downhole at a 5% Cu cutoff;

14.4 metres at 4.22% Cu from 313 metres (THRC159); ○ including 9.5 metres at 4.40% Cu from 313 metres downhole and ○ 2.5 metres at 7.36% Cu from 325 metres down hole and ○ 13 metres at 3.57% Cu from 334.3 metres down hole;

5 metres at 4.94% Cu from 312 metres (THRC158)

3.5 metres at 3.87% Cu from 362.6 metres (THRC149)



12 metres at 1.53% Cu from 114 metres (THRC037; ○ including 3 metres at 4.47% Cu from 121 metres downhole

Later in the quarter, on 27th September Ventnor made a further announcement with the following headline; “Exceptional High-grade results continue at Thaduna/Green Dragon Copper Project” Which included the following highlights:

Exceptional High-grade results continue in previously announced high-grade shoot under Thaduna pit

Significant copper sulphide intersections

Mineralisation extended at Green Dragon

Potential of the Thaduna/Green Dragon Copper Project still being realised

Maiden Resource estimate pending

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And the following High grades from recent drilling intersected at Thaduna:


o including 0.64 metres at 13.76% Cu;

13.3 metres at 2.50% Cu

o including 1.5 metres at 4.48% Cu and

o 5.3 metres at 4.53% Cu;


o including 5.0 metres at 6.28% Cu

High-grades from recent drilling intersected at Green Dragon include:


o including 8.0 metres at 4.52% Cu and

o 4.0 metres at 3.00% Cu


o including 3.2 metres at 6.60% Cu.

Managing Director Bruce Maluish commented that these high-grade deeper intersections with significant copper sulphide minerals would be followed up with further drilling as they continue to support the discovery of the high grade shoot under the Thaduna pit. During the quarter Ventnor also intersected sulphides including bornite at the Green Dragon prospect which has the potential of extending the identified mineralisation to the west. This will also be followed up with additional drill holes. As at the end of the September quarter the Company had encountered the highest grades and most significant sulphides in the project to date. Thaduna By the end of the September quarter drilling completed at Thaduna had increased to 218 RC holes for 28,142 metres with 44 Diamond Tails for 6,611 metres, totaling 34,753 metres. On 1 August 2012 the results from a series of holes, THRC158-161, were announced, highlighting a new high-grade zone of strong bornite mineralisation at Thaduna. A series of holes were then planned to infill and extend this new mineralisation. Drilling is ongoing, but in a recently drilled hole, THRC195, on Section 1040m, semi-massive chalcopyrite in silicified greywacke has been intersected over 60m below the footwall of the Thaduna fault.

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Pictured above is the semi-massive chalcopyrite intersection in THRC195 from 324-324.64m down hole. This 0.64m of core assayed 13.76% Cu and is significant not just for the grade and the fact it lies >60m beyond the footwall of the Thaduna fault, but in the nature of the mineralisation. Invariably the high-grade mineralisation intersected at Thaduna is intimately associated with fault-hosted graphitic black shales. This high-grade intersection is hosted in a silicified greywacke with no graphite present and almost no contact metamorphism or alteration around the semi-massive veins. This is a new type of mineralisation encountered at Thaduna which may not be associated with the Thaduna fault-hosted mineralisation that has been intersected to date and may potentially add significant copper mineralisation to the resource. Multi-element assays are pending. Thaduna Section 1040m, below shows the position of the intersection and has an interpretation showing it linked with a small footwall structure in THRC160 up dip. To further investigate the connection, a Geophysical survey crew were mobilised to site to undertake a Down Hole Electromagnetic (DHEM) survey on this and other selected holes as well as a Fixed Loop Electromagnetic (FLEM) survey in the central Thaduna area. The purpose of these surveys is to test the in-hole mineralised black shale and semi-massive chalcopyrite conductors to search for off-hole conductors which may indicate the presence of a larger massive sulphide mineralised structure. Of particular note is that almost all sulphide mineralised intersections at Thaduna and Green Dragon, contain only copper sulphides, chalcopyrite/bornite/chalcocite, there are little or no other iron sulphides, and no base metal sulphides present. The core above therefore at a grade of 13.76% Cu is almost 40%, by mass, chalcopyrite.

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Thaduna Section 1040m

On section 1160m below, assays have been received for an additional hole THRC177, which further support the depth potential of the high-grade bornite mineralisation reported in that release. THRC177 intersected a high-grade +1% Cu zone of 5.0 metres @ 6.28% Cu, with individual 1-metre grades up to 12.77% Cu and 40g/t Ag, within black shales hosted in the Thaduna fault.

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(Note: THRC165 intersection updated with lab assay; explanation below)

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Also included in the announcement of 1 August 2012, Hand Portable XRF (HPXRF) preliminary results were reported for RC drill holes on section and in an intersection table; the assay results for these had been received and updated by quarter end. On each of the released drill sections, 800m, 1000m and 1160m, one RC hole on each was reported with HPXRF preliminary results to avoid unnecessary reporting delays due to laboratory turnaround. The final laboratory assays were received by the end of the quarter and a comparison of the HPXRF vs. Laboratory Assay is tabulated below.

Laboratory Assay Result Preliminary HPXRF Result m x Cu%

Diff. Hole Id From To DH m Cu% From To DH m Cu%

THRC174 222 227 5 0.40 222 227 5 0.28 146%

241 247 6 0.77 240 247 7 0.61 109%

THRC170

129 131 2 0.46 129 131 2 0.29 163%

134 145 11 1.74 134 142 8 1.14 210%

136 142 6 2.88 136 140 4 1.85 233%

THRC164

170 188 18 2.87 171 192 21 1.74 142%

171 180 9 5.26 171 181 10 3.26 145%

197 199 2 0.26 198 206 8 0.27 25%

The table above demonstrates the effectiveness of the HPXRF in supplying a robust estimate of the copper grades of RC samples. It is known by the Company that when using the procedures developed, the HPXRF typically underestimated the higher copper grades compared to the laboratory by between 125-200%, depending on the grade of the sample and its moisture content. The long section below models in each drill hole the combined intersections down hole in true width generated from cross sections. The average combined intersection grade is then multiplied by the true width to generate a grade accumulation, Cu% x metre, with the position determined by the mid-point of all intersections, which is then projected onto a vertical plane. The grade accumulation is a relative measure of amount of copper metal that has been intersected by the drill hole. These points are used to generate a 2D grid using an inverse distance squared interpolation with the 3rd dimension being represented by the grade accumulation. This metal topography is then contoured for the image below. The contours show the mineralisation is plunging to the north with a significantly high grade shoot in the central areas highlighted in the inset.

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The inset below focuses on the high-grade shoot at depth where strong bornite mineralisation is reflected in high-grade assay results. The addition of these new holes reinforces the grades in this area.

Below are the previously reported sections, 800m and 1000m, which have been updated with the Laboratory assays for the RC holes tabled above.

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Below is the current drill status plan at Thaduna as at quarter end showing the holes that have been completed and the diamond tails that are currently planned. All RC pre-collars have been completed for the currently planned 13 diamond tails to be drilled for a planned 3,200m. It is expected that this drilling will take until the end of October to complete. The current DHEM and FLEM surveys were completed during the quarter with post-processing to follow. Additional targets generated from this survey may add to the current planned drilling.

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THRC207, ~150m south of THRC195, has intersected significant mineralisation over 50m into the footwall of the Thaduna fault. The mineralisation, pictured below, is the most significant core drilled to date at Thaduna. The intersection length is +10 metres down hole and is a mixture of strong chalcopyrite in graphitic shales and chalcopyrite and bornite in quartz infill. The chalcopyrite occurs as coarse vein and fracture fill and finely disseminated throughout the host rock mass. The bornite in quartz replaces chalcopyrite and is more purple in colour than the typical blue hue seen when it is associated with graphitic shales. Samples for this hole have been submitted to the laboratory and results are expected in October. The significance of this mineralisation is that in combination with THRC195 it adds another target below the Thaduna fault.

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The Geophysical survey crew that mobilised to site to undertake a DHEM survey as well as a FLEM survey in the central Thaduna area included this hole THRC207. The purpose of this survey is to test the in-hole mineralised zone to search for off hole conductors which may indicate the presence of nearby larger massive sulphide mineralised structures. Results included in the sections at Thaduna are tabulated below.

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Hole Id Northing Easting Az Dip From To DH m Cu% Ag ppm Type

THRC007 7175952 772759 94 -59 47.0 55.0 8.0 0.36 0.3

61.0 63.0 2.0 0.25 NSR

74.0 78.0 4.0 0.22 1.3

83.0 96.0 13.0 0.73 2.0

Incl. 93.0 96.0 3.0 2.02 6.2

THRC035 7175953 772768 91 -61 61.0 63.0 2.0 1.23 8.5

83.0 97.0 14.0 0.92 NSR

Incl. 83.0 85.0 2.0 1.59 1.5

Incl. 91.0 96.0 5.0 1.49 3.0

THRC119 7175926 772686 60 -60 166.0 168.0 2.0 2.64 2.4 RC

246.0 265.0 19.0 1.85 8.0

Incl. 250.6 255.9 5.3 1.39 4.7

Incl. 258.0 264.6 6.6 3.93 19.2

THRC130 7175989 772872 250 -60 81.0 90.0 9.0 1.07 NSR

Incl. 81.0 83.0 2.0 2.93 NSR

Incl. 86.0 88.0 2.0 1.25 NSR

98.0 100.0 2.0 0.23 NSR

104.0 110.0 6.0 1.63 2.3

Incl. 104.0 107.0 3.0 2.73 4.7

THRC142 7175860 772723 35 -50 239.0 250.4 11.4 0.81 2.3

Incl. 242.0 243.0 1.0 1.59 5.9

Incl. 247.4 250.4 3.1 1.49 5.7

THRC149 7175810 772619 35 -60 362.6 366.1 3.5 3.87 12.4

Incl. 362.6 365.7 3.0 4.39 14.3

THRC174 7175857 772724 35 -60 222.0 227.0 5.0 0.40 0.6

(Updated with Lab Assay) 241.0 247.0 6.0 0.77 2.0

THRC009 7176104 772673 92 -60 105.0 112.0 7.0 4.26 11.2

Incl. 106.0 111.0 5.0 5.70 15.2

THRC018 7176114 772676 64 -55 49.0 58.0 9.0 0.60 0.3

75.0 91.0 16.0 2.72 6.6

Incl. 75.0 82.0 7.0 5.68 13.7

101.0 108.0 7.0 0.74 0.7

Incl. 101.0 103.0 2.0 1.41 1.3

THRC037 7176106 772660 84 -60 101.0 103.0 2.0 0.25 0.6

114.0 126.0 12.0 1.53 2.7

Incl. 116.0 118.0 2.0 1.32 1.6

Incl. 121.0 124.0 3.0 4.47 9.7

THRC112 7176105 772674 64 -61 67.0 69.0 2.0 0.67 NSR

72.0 74.0 2.0 0.34 NSR

94.0 101.0 7.0 4.22 11.3

Incl. 94.0 100.0 6.0 4.78 12.7

129.0 131.0 2.0 0.23 0.6

THRC137 7176084 772639 50 -60 166.0 169.4 3.3 2.98 5.8

Incl. 168.0 169.4 1.3 6.68 14.4

THRC170 7176051 772659 35 -50 129.0 131.0 2.0 0.46 0.0

(Updated with Lab Assay) 134.0 145.0 11.0 1.74 4.4

Incl. 136.0 142.0 6.0 2.88 7.8

THRC159 7176066 772605 35 -60 246.0 256.0 10.0 1.16 1.3

Incl. 246.9 251.9 4.9 2.00 2.4

262.0 280.0 18.0 2.35 4.7

Incl. 263.0 278.0 15.0 2.74 5.6

295.4 297.0 1.6 0.37 NSR

313.0 327.4 14.4 4.22 13.5

Incl. 313.0 322.5 9.5 4.40 15.4

Incl. 325.0 327.4 2.5 7.36 19.9

334.3 347.3 13.0 3.57 6.6

Incl. 334.3 346.0 11.8 3.93 7.3

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NSR – No Significant Result Intersections are based on greater than 0.2% Cu, minimum of 2 metres down hole length for RC drilling and less for diamond core, maximum of 2 metres of internal dilution. All intersections are down hole lengths. Included intersections in bold are based on greater than 1.0% Cu, minimum 2 metres down hole length, maximum of 2 metres of internal dilution. Assays for Cu and Ag are determined by a four acid digest with either an ICP-OES or ICP-AA finish. Coordinates are MGA Zone50J GDA. “Type” indicates either a Reverse Circulation (RC) intersection or NQ2-sized diamond core sample.


THRC010 7176182 772638 90 -60 39.0 41.0 2.0 0.42 -

57.0 59.0 2.0 0.41 0.9

69.0 71.0 2.0 0.28 0.4

79.0 95.0 16.0 3.12 8.5

Incl. 80.0 94.0 14.0 3.51 9.5

THRC038 7176148 772658 91 -61 2.0 4.0 2.0 0.24 NSR

80.0 82.0 2.0 0.55 NSR

91.0 93.0 2.0 0.40 NSR

97.0 110.0 13.0 2.23 5.6

Incl. 100.0 105.0 5.0 5.10 13.4

THRC039 7176149 772643 85 -61 101.0 106.0 5.0 0.35 NSR

And 112.0 115.0 3.0 0.69 1.0

And 120.0 127.0 7.0 2.37 5.2

Incl. 122.0 126.0 4.0 3.85 9.0

And 138.0 140.0 2.0 0.57 1.1

And 153.0 155.0 2.0 0.44 NSR

THRC040 7176180 772620 90 -61 120.0 125.0 5.0 0.57 0.5

And 141.0 148.0 7.0 1.53 3.2

Incl. 141.0 147.0 6.0 1.74 3.7

And 158.0 160.0 2.0 0.52 NSR

THRC041 7176179 772600 87 -60 153.0 158.0 5.0 1.01 1.8

Incl. 154.0 156.0 2.0 1.78 3.0

And 166.0 174.0 8.0 0.74 1.0

THRC160 7176097 772585 35 -60 225.7 234.0 8.3 4.36 10.5

Incl. 228.0 233.0 5.0 7.00 17.6

+5% cut offIncl. 229.7 232.3 2.7 11.72 29.7

267.0 268.6 1.6 1.66 NSR

THRC195 7176071 772557 35 -60 254.0 258.0 4.0 0.31 NSR

(New Intersections) 282.0 287.0 5.0 1.50 3.2

Incl. 283.0 286.0 3.0 2.13 5.0

314.0 319.0 5.0 0.37 NSR

322.0 325.0 3.0 3.52 N/A

Incl. 324.0 324.6 0.6 13.76 N/A

THRC114 7176278 772576 67 -60 125.0 186.6 61.6 2.18 0.1

Incl. 127.0 159.0 32.0 3.10 0.2

Incl. 170.0 175.0 5.0 1.30 NSR

Incl. 180.0 186.6 6.6 2.90 NSR

THRC115 7176291 772595 63 -60 24.0 26.0 2.0 2.06 NSR RC

THRC147 7176216 772380 35 -60 359.0 362.0 3.0 3.11 2.3 NQ2

THRC164 7176227 772557 35 -60 170.0 188.0 18.0 2.87 0.7

(Updated with Lab Assay) Incl. 171.0 180.0 9.0 5.26 1.5

197.0 199.0 2.0 0.26 0.0

THRC165 7176203 772524 35 -60 223.0 236.3 13.3 2.50 6.2

(New Intersections) Incl. 226.0 227.5 1.5 4.48 10.7

Incl. 230.0 235.3 5.3 4.53 12.3

THRC177 7176146 772420 35 -60 328.0 336.0 8.0 4.12 11.2

(New Intersections) Incl. 331.0 336.0 5.0 6.28 17.8

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Green Dragon Drilling at Green Dragon to period end comprises 94 RC holes for 12,732 metres with 4 Diamond Tails for 807 metres and 2 HQ Metallurgical diamond holes for 389.6 metres for a total of 13,929m over the four phases of drilling that commenced in April 2011. During May 2012 a DHEM survey was completed at Thaduna and Green Dragon. At Green Dragon the survey tested GRC090 on the western edge of the drilling and was conducted to follow up better results in this hole; also tested was GDRC080, with 17m @ 2.95% Cu, incl. 8m @ 4.52% and 4m @ 3.00% Cu. Recently, on Section 774720mE, below, a diamond tail was completed on GDRC093 which intersected a number of strong black shale horizons within the sedimentary sequence representing the Green Dragon mineralisation. The highest grade zones showed good visible chalcocite replacing bornite and returned the high grades seen below on the section. An additional series of holes have been drilled to follow up these results to test for an extension to mineralisation west of the known resource at Green Dragon.

The Geophysical survey crew included this hole in a DHEM survey as well to test the in-hole mineralised zone to search for further off hole conductors.

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Green Dragon Project Section 774720mE

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Below is the current drill hole location plan at Green Dragon.

Results included in the sections at Green Dragon are tabulated below.

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NSR – No Significant Result Intersections are based on greater than 0.2% Cu, minimum of 2 metres down hole length for RC drilling and less for diamond core, maximum of 2 metres of internal dilution. All intersections are down hole lengths. Included intersections in bold are based on greater than 1.0% Cu, minimum 2 metres down hole length, maximum of 2 metres of internal dilution. Assays for Cu and Ag are determined by a four acid digest with either an ICP-OES or ICP-AA finish. Coordinates are MGA Zone50J GDA. “Type” indicates either a Reverse Circulation, RC, intersection or NQ2-sized diamond core sample.

Competent Person’s Statement The information in this release that relates to Exploration Results is based on information compiled by Mr David Reid who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Reid is an employee of Ventnor Resources Limited. Mr Reid has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the “2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Reid consents to the inclusion in this report of the matters based on information provided by him and in the form and context in which it appears.

Other Projects Western Australia - Kumarina Project

During the previous quarter Ventnor undertook a HyVista program to economically and efficiently examine a large unexplored area and pinpoint areas of interest for field checking, HyVista is a multi spectral survey to focus future exploration in the area. The project area is eminently suitable for HyVista as it is large, continuous and with sparse vegetation and the survey is conducted by non-surface disturbing aerial data capture. The aerial mapping exercise has been completed and data processing is currently underway.


GDRC007 7181042 774719 181 -59 73.0 75.0 2.0 0.22 NSR

139.0 141.0 2.0 0.56 NSR

GDRC008 7181059 774720 182 -61 87.0 89.0 2.0 0.47 NSR RC

GDRC042 7181002 774720 177 -61 166.0 168.0 2.0 2.64 2.4 RC

GDRC043 7180997 774720 178 -60 80.0 82.0 2.0 0.38 NSR RC

GDRC044 7181099 774720 180 -60 116.0 120.0 4.0 0.35 NSR

142.0 144.0 2.0 0.61 1.0

158.0 161.0 3.0 0.97 2.0

170.0 174.0 4.0 1.31 0.3

Incl. 170.0 172.0 2.0 2.20 0.5

GDRC081 7181139 774720 180 -60 144.0 146.0 2.0 0.47 0.0

161.0 164.0 3.0 0.33 0.0

171.0 178.0 7.0 0.90 0.9

Incl. 172.0 174.0 2.0 2.10 2.0

185.0 188.0 3.0 0.51 0.0

GDRC093 7181196 774720 200 -60 187.0 189.0 2.0 0.32 0.0

210.0 215.0 5.0 4.44 5.8

Incl. 211.0 214.2 3.2 6.60 9.0

220.0 223.0 3.0 2.97 4.4

Incl. 220.9 222.5 1.7 5.08 7.9

GDRC080 7181136 774760 180 -60 135.0 137.0 2.0 0.54 1.0

163.0 180.0 17.0 2.95 3.5

Incl. 163.0 171.0 8.0 4.52 6.0

Incl. 175.0 179.0 4.0 3.00 2.8

RC

Sect

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77

47

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RC

RC

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HyVista remote sensing is a mineral mapping technology which can be used to focus exploration on large areas. Its fundamental principles are based on the spectral signatures of surface materials. Each four metre pixel of a hyperspectral image contains a spectrum which forms the basis for determining the materials present by interrogating the reflected image. Surface mineralogy and other components are mapped using component signatures or specific target spectral signatures of known materials. The data can be interrogated for one or a combination of the spectral signatures from a catalogue of over 2,000 minerals down to an individual four metre pixel. This data can be used to focus exploration to specific selected targets and is a unique tool for exploration over large un-explored areas, such as the Kumarina Exploration Project. Western Australia -Warrawanda Nickel Hills No work was undertaken during the September quarter.

Northern Territory No work was undertaken during the September quarter.

Queensland – Georgina Basin No work was undertaken during the September quarter.

Corporate On 20th August 2012 Ventnor announced to the ASX that the Company had received firm commitments from sophisticated investor and institutional clients of Bell Potter Securities Limited for the placement of 7.3 million fully paid ordinary shares at an issue price of 55 cents to raise $4,015,000 before expenses of the issue. The placement was completed on 24 August 2012. The purpose of the capital raising was to extend the fourth phase of the drilling at the Thaduna/Green Dragon copper project following the recently announced significant assays and intercepts of bornite copper mineralisation.

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Location Map of Ventnor Projects

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