In August 2014, Ventnor submitted an application for a new mining tenement adjacent to the Tropicana Gold Mine, jointly owned by AngloGold Ashanti and Independence Group. The tenement, which was duly granted, includes the Black Dragon, Fire Dragon, Silver Dragon and Red Dragon prospects in an area identified as prospective for gold, nickel-copper and other base metal styles of mineralisation. Following the sale of Thaduna/Green Dragon, the Biranup Project has become Ventnor’s primary focus.
In October 2017, Ventnor Resources Ltd announced the acquisition of a new project, Arrowsmith, 270 kilometres north of Perth in Western Australia. Three Exploration Licences, totalling 350 km2, were applied for to explore for construction sand and high-quality silica sand, which are in high demand in the Asia-Pacific region.
Silica sand is the primary component of all types of standard and specialty glass and is also used for metal casting; metal production; chemical production; pain and coatings; ceramics; filtration and water production and oil and gas recovery. Construction sand is the primary structural component in a wide variety of building and construction products.
Thaduna / Green Dragon Project
In August 2016, Ventnor entered into an agreement to sell the remaining equity in the Thaduna/Green Dragon Project to Sandfire Resources. Under the terms of the agreement, the consideration comprised of $2m worth of Sandfire shares issued to VRX, plus a deferred consideration of $1m if Sandfire proceeds with a decision to mine the Project, a 2.0% Net Smelter Royalty (NSR) payable up to 90,000 tonnes of copper production; and an ongoing NSR of 1.0% on copper production above 90,000 tonnes.