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Venture Minerals’ ‘Julimar Lookalike’ Target Receiving Chalice Mining EM Treatment

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) announced that Chalice Mining (ASX: CHN) has recommenced a ground EM program at Venture’s South West nickel-copper-PGE project in Western Australia.

Venture Minerals’ project is located within Chalice’s interpreted highly prospective West Yilgarn nickel-copper-PGE province.

The EM program had started in late April 2021 but was put on hold in June due to wet weather.

Chalice’s geophysical survey is part of the first stage of the JV earn-in focused on Venture’s Thor Target, a 20 kilometres long, ‘Julimar lookalike’ magnetic anomaly interpreted to be mafic-ultramafic intrusive complex, in which Chalice may earn up to 70 per cent by spending $3.7 million on exploration over four years.

The remainder of the Chalice’s EM program will be fixed-loop EM surveying to cope with the difficult nature of the terrain and is to be carried out over an area where Venture’s airborne EM survey delineated 13 highly conductive anomalies within the southern 6.5km of the ‘Julimar lookalike’ magnetic anomaly.

“The Board is pleased to see the recommencement of our JV partner Chalice Mining’s ground EM program, with this next phase targeting the area where Venture’s own airborne EM survey delineated 13 anomalies, suggesting the current survey is highly likely to generate further bedrock conductors and potentially high priority drill targets,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“What is most exciting is the opportunity this gives to Venture shareholders with Chalice potentially drilling these conductors early next year with the aim of making another Julimar discovery.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Venture Minerals Delineates Large Conductor via Downhole EM

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) reported on a recently completed DHTEM survey at the Orcus prospect within the company’s Golden Grove North project in Western Australia.

Venture Minerals said the DHTEM survey at the Orcus prospect had delineated a large (500m long x 240m depth extent) conductor under high-grade zinc-copper-gold drill intersections that produced assays of up to 7.6 per cent zinc, 1.3 per cent copper, 2.2 grams per tonne gold an 22g/t silver, from the maiden drilling at the prospect.

This program had confirmed a VMS System with all three holes on the first drill line returning strong zones of VMS style mineralisation.

The DHTEM survey was undertaken on five drill holes, after to the second phase of exploration drilling had been put on hold after six diamond core holes were completed earlier this year.

Venture also completed a ground based Moving Loop Electromagnetic (MLEM) survey that identified three additional priority conductors within the Neptune Volcanic Massive Sulphide (VMS) Target zone.

“Further EM work has continued to highlight the exciting exploration potential of Venture’s Golden Grove North project which is well positioned being along strike to 29M’s world class Golden Grove zinc-copper-gold mine,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“A large conductor under high-grade zinc-copper-gold drill intersections at Orcus remains untested and presents an exciting VMS discovery opportunity to be drill tested in the near future.

“Meanwhile the Neptune VMS Target Zone, though still in the early stages of exploration, is suitably located immediately along strike from the Golden Grove Mine.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Venture Minerals Declares Mount Lindsay Tin Discovery

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has claimed a new tin discovery at the company’s Mount Lindsay tin project in Tasmania.

Venture Minerals recently completed exploration drilling at Mount Lindsay on a priority tin target it had delineated along strike from the high-grade Renison Bell tin mine.

This drilling has intersected 16 metres of potentially tin bearing sulphide rich, magnetite skarn.

The new skarn discovery is located within the extension of the Renison Mine Sequence, host to one of the world’s largest and highest-grade tin mines.

The diamond drilling program undertaken by Venture was designed to test extensions of the Renison Mine Sequence, with drillhole ML337 specifically targeting a coincident electromagnetic (EM) and surface geochemical anomaly, favourably located on highly prospective carbonate units that typically dominate the Renison Mine Sequence.

ML337 intersected an alteration halo over 150 metres thick, containing a 16m wide skarn mineralisation zone dominated by magnetite and sulphides typical of those seen in the company’s adjacent Mount Lindsay Deposit, which it enjoys telling anybody listening is one of the largest undeveloped tin deposits in the world, containing in excess of 80,000 tonnes of tin metal.

“Immediate success from the first exploration drilling at Mount Lindsay since 2013, has seen the discovery of a substantial skarn system immediately along strike from one of the world’s most significant and high-grade tin mines (Renison Bell Mine) and adjacent to Venture’s Mount Lindsay tin deposit located within Australia’s premier tin district,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“The discovery of a potential new tin-bearing skarn system so close to the company’s flagship tin deposit delivers Venture an excellent opportunity to add to the already significant resource base at Mount Lindsay.

“Consumers and investors are becoming extremely focused on ESG-compliant sourcing of tin, Mount Lindsay is well positioned to meet this demand, being in a ESG compliant jurisdiction, with access to renewable hydropower, combined with the company’s commitment to minimizing its carbon footprint, through planned underground mining and processing strategies.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au