SX-EW Heap Leach Operation

Venturex, in joint venture with Blackrock Minerals Pty Ltd (Blackrock), recommenced acid leaching the Whim Creek ore dumps previously leached from 2005 -2010.  Venturex has an access agreement with Blackrock, giving them access to the leases to operate a small plant to produce copper cathode. This agreement was recently extended until December 2018.

The 4-5t/day SX/EW plant was established on site and the dump leach successfully recommissioned during the March Quarter of 2014.  The joint venture has produced a total of 2,083 tonnes of cathode copper to the end of April 2016.  Venturex and Blackrock are currently evaluating additional oxide copper ore sources to supplement the current production.

Under the recent contract extension Venturex’s share of net profit will be increased from 15% in calendar 2015 to 30% in calendar 2016 and to 49% from 1 January 2017. Blackrock have recently installed a Fenix ion exchange unit to supplement production from the heap leach by recovering copper from Copper sulphate residue in the environmental and process ponds.