EL 28859 Final report for period ending 16 September 2013

Abstract

EL 28859 is a granted exploration licence located over the Wearyan Shelf of the McArthur Basin adjacent to and immediately west of the Mount Isa Inlier where world class base metal mines and major uranium deposits have been delineated in Proterozoic basement. To the west of the lease is the McArthur River base metals mine located on the Batten Shelf of the McArthur Basin. Ventnor was exploring for base metal minerals, principally copper, on this lease. No exploration work was carried out during the period 28 February 2012 to relinquishment on 16 September 2013. An internal review of the Company's exploration strategy given the current capital markets has been completed and as a result a decision was made to relinquish all tenements associated with the Company's NT Copper Project.