Venture Minerals Defines New REE Target at Brothers

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) announced the identification of a new large REE target within the company’s Brothers rare earths elements project in Western Australia.

Venture Minerals has defined, what has been named, the Jupiter prospect as a coincident gravity and magnetic anomaly extending over 40 square kilometres that hosts extensive REE rich clays.

The company has carried out reconnaissance aircore drilling that has shown a strong correlation between the magnetic/gravity highs and the broad widths of near-surface, high-grade total rare earth oxide (TREO) results.

Venture believes there to be potential to deliver a substantial resource from these results and has follow up drilling in train to commence shortly.

The company also received the first batch of one metre split samples from a previously announced reconnaissance Air Core drilling program, including one metre splits for drill hole BRAC036 from the Jupiter target, which it has interpreted to confirm the high tenor and thickness of the clay hosted REE mineralisation at the Jupiter target.

The Brothers project is approx. 250kms from Iluka’s Eneabba Rare Earths Refinery, which aspires to be in production in 2025 and approx. 520kms from Lynas Rare Earths currently operating Mount Weld Concentrator.

“The recent exploration work at Jupiter suggests that Venture has the makings of an exceptional Rare Earths project, capable of delivering a large scale, high-grade, clay hosted rare earth resource in a short period of time,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“Being located in Western Australia, with excellent access to infrastructure as well as existing and planned rare earth processing facilities are additional benefits.”

 

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