Venture Minerals Kicks Off 300 Drillhole Program at Jupiter
THE DRILL SERGEANT: Venture Minerals (ASX: VMS) informed the market of the commencement of a Stage Two Resource definition drill program at the company’s clay hosted Jupiter Rare Earths prospect, located in the Mid-West region of Western Australia.
Venture Minerals said the 300 drillhole program will bring the drill density across the 40 square kilometre target to a 500 metres by 250 metres spacing that will provide the necessary data for a Maiden Resource estimate at Jupiter.
The campaign is following up on assay results Venture received from drilling completed late last year that delivered further consistent high-grade zones (+2,000ppm TREO) over 20-30m widths, within broader zones up to 72m grading well over 1,000ppm TREO with thorium and uranium levels remaining consistently extremely low.
This program included an impressive intersection of:
BRRC061
9 metres at 5020ppm total rare earth oxides (TREO) from 22m, including 4m at 9550ppm TREO from 24m.
“With the recent record drill results delivered by the first two batches of assays from the Stage One Resource definition drill program at Jupiter, the company has committed to an extensive 300 drillhole Stage Two program to accelerate towards delivering the much-anticipated Maiden Resource,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.
“The highlights to date clearly demonstrate that Jupiter is emerging as a Major, Rare Earths discovery in the Tier One jurisdiction of Western Australia, located between Lynas’s existing plant and Iluka’s planned Rare Earth processing facilities.
“Shareholders should expect plenty of news flow in the following weeks with assays from the final batch of the Stage One program due shortly and assays from the several batches of samples that will be submitted over the course of this current drill program.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE