News: Venturex Resources selling non-core assets

Venturex Resources (ASX:VRX) has agreed to sell a non-core exploration tenement to Forge Resource Swan Pty Ltd for $400,000.

Exploration Tenement E47/924 is located within the Salt Creek region in Western Australia.

Salt Creek consists of an underexplored 12 kilometre belt covering two known areas of mineralisation and a number of prospects including ACL, West Balla Balla and East Balla Balla.

The ability to explore and exploit any resources on the company’s remaining tenement in this area is not affected by the sale of this tenement (E47/924).

This proposed transaction is consistent with the company’s policy of divesting non-core assets to focus on exploring and developing its extensive copper-zinc assets in the Pilbara region, while providing additional funding to drive these programs through 2015.

The sale will boost Venturex’s cash position to over $1.3 million, ensuring it is funded for its 2015 exploration programs and options to enhance/commercialise the Pilbara Copper-Zinc Project.