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Venture Minerals Claims Golden Grove North REE Discovery

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) claimed discovery of “very high-grade” rare earth elements (REE) surface mineralisation at the Vulcan prospect within the company’s Golden Grove North project in Western Australia.

Venture Minerals reported recent results included several values over one per cent Total Rare Earth Oxide (TREO) ranging up to 12.5 per cent TREO with 5,460 ppm (0.55 per cent) Praseodymium Oxide (Pr6O11) and 14,575 ppm (1.46 per cent) Neodymium Oxide (Nd2O3).

The company said the new REE target had been supported by historic soil sampling that was originally focused on Volcanic Massive Sulphide (VMS) style mineralisation that was also assayed for two REEs being Lanthanum (La) and Cerium (Ce).

Recently completed soil sampling, from which the Total Rare Earth Elements (TREE) were analysed to confirm and define the new discovery.

“The discovery of Very High-Grade Rare Earth mineralisation at one of our VMS prospects at Golden Grove North, effectively doubles the company’s exposure to the Rare Earth space, as it follows our recent Rare Earth discovery at Mount Lindsay,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“Clearly the company’s diverse portfolio of projects affords the unique opportunity for such discoveries, due to Venture’s strategic landholdings in areas with the potential to host multiple mineralised systems, consequently leading to a higher probability of exploration success.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.ventureminerals.com.au

 

Venture Minerals Looking at Julimar Lookalike Via Chalice EM Survey

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) reported it Joint Venture partner, Chalice Mining (ASX: CHN) has generated seven new EM anomalies from a recently completed ground EM program at the company’s South West nickel-copper-PGE project in Western Australia.

Venture Minerals said this brings the total number of new targets to 11 from the Chalice ground EM program, which is part of the first stage of the JV earn-in focused on Venture’s Thor target, a 20km long, Julimar lookalike (as defined by Chalice), magnetic anomaly at the South West project.

The seven new EM anomalies defined by Chalice have been interpreted to be of similar strength conductors to those that yielded wide palladium intervals during the early drilling phase of the Julimar nickel-copper-PGE discovery.

One of the seven new EM anomalies also coincides with the 2.4 metres of massive sulphide intersected in previously drilled TOR05, which averaged 0.5 per cent copper, 0.05 per cent nickel, 0.04 per cent cobalt and contained anomalous gold and palladium, making that conductor a potential priority drill target (still to be determined by Chalice).

“Venture’s JV partner Chalice Mining has now delivered several new EM anomalies within the Thor ‘Julimar lookalike’ target from the first stage of the JV earn-in to the company’s South West project,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“To have a partner that has ‘one of the largest greenfield nickel-copper-PGE sulphide discoveries in recent history’ will be of huge benefit in this very important second stage of the JV with Chalice, including a maiden drill program at Thor.

“Venture, through its South West JV with Chalice, is well placed for a new nickel-copper-PGE discovery and the associated excellent exposure to nickel, which is now at 10-year highs, and palladium with its widespread applications in a green hydrogen economy.

“The company looks forward to the commencement of drilling at the South West project in the coming months where success will only add to Venture’s extensive portfolio of enviable resource assets.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Chalice Minerals Defines ‘Julimar lookalike’ EM Target at Venture Mineral’s South West Nickel-Copper-PGE Project

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) informed the market that its Joint Venture partner Chalice Mining (ASX: CHN) has generated new EM anomalies from the early stages of a ground based moving loop EM (MLEM) and fixed loop EM program at the company’s South West nickel-copper-PGE project in Western Australia.

Venture explained that Chalice defined the new anomalies over selected areas of the Julimar lookalike magnetic feature (Thor Target) as well as other interpreted mafic-ultramafic intrusions.

The current program is part of the first stage of a JV earn-in, under which Chalice may earn up to 70 per cent by spending $3.7 million on exploration over four years.

The new EM anomalies are considered to be of similar strength conductors to those that yielded wide palladium intervals during the early drilling phase of the Julimar nickel-copper-PGE discovery.

In addition, one of the new EM anomalies is within 10 metres of a previously drilled hole TOR04 that intersected 86 metres of disseminated sulphides with anomalous levels of PGE mineralisation, which the JV believes makes this EM conductor of particular interest.

“Venture is extremely encouraged by the success of the early work done by our JV partners Chalice Mining on our South West Project,” Venture Minerals managing director Andrew Radonjic said in the companies’ ASX announcement.

“The ground EM program, though only one third complete, has already yielded new EM anomalies with one sitting adjacent to a previously drilled hole containing significant disseminated sulphides with elevated PGE levels.

“The majority of the Thor ‘Julimar lookalike’ Target that already hosts several airborne EM anomalies is yet to be tested by Chalice’s EM program and the company (Venture) looks forward to results from this work and potential follow up drill testing in the near future.”

 

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

 

Email: admin@ventureminerals.com.au

 

 

Web: www.ventureminerals.com.au