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Venture Minerals to Update Mt Riley Study

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) announced it has started work on updating a previously conducted mining study at the company’s Mt Lindsay iron ore mine in Tasmania.

Venture Minerals said the updated study was being carried out so that a decision to recommence mining at Mt Lindsay can be made at the earliest opportunity.

Following a favourable study outcome, Venture’s stated goal is to commence iron ore production in Q4 2019.

Venture has had the Riley mine on Care & Maintenance since August 2014 shortly after it suspended operations.

The iron ore price is currently around 30 per cent higher in AUD terms than it was upon closing and since early last December, the 62 per cent iron price has risen more than 40 per cent in USD terms.

The unfortunate recent events at Vales’ mines in Brazil suggest the current price levels could be sustained for at least the near term.

Venture has already completed extensive pre-production work at the Riley project putting in place all the necessary requirements to commence mining, making it a ‘quick to market’ opportunity for the company.

“Venture believes the efficiencies of restarting the Riley mine will benefit greatly by working again with the team that delivered the start of the Riley mining operations,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“The addition of the Rapallo Engineering Group will not only assist in this process but will afford the company the optionality to look at newer lower cost techniques as part of the exercise.”

 

The Resources Roadhouse caught up with Andrew Radonjic at the recent RIU Sydney Resources Roundup

– WATCH THE INTERVIEW HERE.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Venture Minerals Targeting Renison-Style Tin at Mt Lindsay

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) is about to conduct a high-resolution Airborne Electromagnetic (EM) survey over the company’s Mount Lindsay tin-tungsten project in Tasmania.

Venture Minerals has charged UTS Geophysics to use its VTEMTM Max system with the aim of identifying further high-grade tin targets, including those with the potential to host Renison Bell style mineralisation.

Previous exploration at Mount Lindsay has identified potential tin targets located within carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the nearby Renison Mine, one of the world’s largest and highest-grade tin mines.

Venture believes the VTEMTM Max system is an ideal exploration tool for making discoveries for the Renison style of tin mineralisation at Mount Lindsay.

The company outlined the aim of the EM survey being to generate drill targets that may lead to further tin discoveries that could enhance future development of the Mount Lindsay tin-tungsten project.

With this in mind, Venture is advancing a recently commissioned Underground Scoping Study it anticipates optimising the higher-grade portions at Mount Lindsay, that previously reported resources including 4.7 million tonnes at 0.4 per cent tin and 0.3 per cent tungsten.

Venture hopes to leverage on the feasibility work previously completed.

“All the geological factors make the Mount Lindsay’s Renison style targets a compelling proposition for the company to test, and it looks forward to delivering those results in the near future,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“Should a new tin discovery result at this time of high price, it would be of great benefit to the project and the company.”

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Venture Minerals Intersects Further Massive Sulphides at Thor

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) conducted drilling at the company’s Thor prospect in Western Australia, intersecting further massive sulphides with copper and zinc mineralisation.

Venture Minerals said results from its last two drill holes suggest that drilling is vectoring in towards higher grade zones within the Thor Volcanogenic Massive Sulphide (VMS) sequence.

The company explained that, to date, the Thor project has seen only two single drill holes targeting two of thirteen priority VMS drill targets it has delineated around the initial discovery area.

Further drilling will go towards unlocking, what Venture believes to be, the potential of Thor’s 20-kilometre VMS target zone.

In this second drill campaign at Thor, Venture’s second drill hole (TOR05) intersected massive sulphide zones of up to 2.4 metres (271.45m to 273.85m) and returned assays of up to 0.8 per cent zinc and 0.5 per cent copper and highly anomalous cobalt of up to 435ppm.

Venture has interpreted the results to have confirmed the VMS style of the mineralisation.

“The company is encouraged by these latest results at Thor and is looking forward to unlocking the potential of the VMS project to deliver high-grade mineralisation in the near future,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

Venture claims Thor has the same EM and geochemical signature as Teck’s adjacent VMS Kingsley discovery, which is one of several VMS occurrences in the Archean Yilgarn Craton of Western Australia with the Golden Grove Camp (Mine), 370kms NNE of Perth, being the prime example with over nine VMS deposits spread over 13kms of strike.

At the end of 2002, Golden Grove had an endowment (resources and production) of 40.2 million tonnes at 1.8 per cent copper, 0.9 per cent lead, 7.6 per cent zinc, 103 grams per tonne silver and 0.8g/t gold.

In February 2017, EMR Capital purchased Golden Grove for US$210 million and states that after 27 years of production there is still over 10 years of mine life for the 1.3 million tonnes per annum operation.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Venture Minerals Reviews Riley Revisitation

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) informed the market it is reviewing the economics of the company’s Riley DSO iron ore mine in Tasmania.

Venture Minerals said it carried out the review on the back of a recovery in the iron ore price and expressions of interest by several third parties in the Riley ore.

The company will undertake the review of the Riley project in conjunction with an updated scoping study on its neighbouring Mount Lindsay tin-tungsten project, which is due to be completed in the coming weeks.

Venture has had the Riley iron ore mine on care and maintenance since August 2014 having suspended clearing of the plant site.

Venture Minerals believes the current market trend demands a review of its iron ore operation with the price for 62 per cent iron, which is like what will be produced at Riley, having risen by almost forty per cent.

The company believes recent events in the global iron ore community, namely at Vales’ mines in Brazil, could sustain the current price levels at least the near term, which may suit the production ready nature of the Riley project.

Venture has already completed extensive pre-production work at Riley putting in place all the necessary requirements to commence mining, making it a ‘quick to market’ opportunity for the company.

Highlights at the Riley DSO hematite project are:

Riley is a fully permitted iron ore mine that is positioned to recommence operations within a very short period;

Approximately 90 per cent of the equipment that was previously purchased is still on hand;

Riley has Reserves of 1.8 million tonnes at 57 per cent iron with low impurities;

The Riley DSO deposit is all at surface, located less than two kilometres from a sealed road that accesses existing rail and port facilities.

“The previous work at the Riley iron ore mine has placed Venture in a strong position and with the iron ore price improving it affords the company the opportunity to commence production with relatively short notice,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Price Charge Rattles Tassie Tin Prospects

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THE INSIDE STORY: Discerning market watchers would be aware of Venture Minerals (ASX: VMS) as one of the Australian Securities Exchange’s diversified exploration plays.

Venture Minerals boasts a portfolio that includes a tin-tungsten resource at the company’s Mount Lindsay project in Tasmania and the Thor Volcanogenic Massive Sulphides (VMS) prospect in Western Australia.

Venture Minerals’ more advanced project is the company’s Mount Lindsay tin and tungsten project in Tasmania.

Venture has long declared Mount Lindsay as being one of the world’s largest undeveloped tin projects, one that is ideally placed to take advantage of the recent rise in both interest and the price of tin.

The 148 square kilometre Mount Lindsay project is in north-western Tasmania within the contact metamorphic aureole of the highly perspective Meredith Granite.

The project sits between the world class Renison Bell tin mine, which has produced more than 231,000 tonnes of tin metal since 1968, and the Savage River magnetite mine that has operated for over 50 years and currently produces approximately 2.5 million tonnes per annum of iron pellets.

Venture owns 100 per cent of the tenure that hosts both the Mount Lindsay tin-tungsten deposit and all surrounding prospects.

Since commencing exploration on the project in 2007, Venture has completed approximately 83,000m of diamond core drilling at Mount Lindsay, from which it has defined higher grade JORC compliant Measured, Indicated and Inferred Resources of 4.7 million tonnes at 0.4 per cent tin and 0.3 per cent tungsten with over 60 per cent in the Measured and Indicated categories.

Tin has been trending of late, hitting over the US$21,000 per tonne mark, which analysts attribute to lowering LME stocks and that most of the mining for tin is carried out in jurisdictions of dubious ethics.

There are plenty of uses in modern-day technology where tin is already a vital element, however, it is its ability to make lithium-ion batteries last more than three times longer, that has positioned it as an obvious choice to meet the anticipated demand for better batteries in mobile phones, cameras, iPads and other mobile devices.

Of course, the obvious market for tin, as all new age metals, is the use of lithium-ion batteries in hybrid and all-electric cars.

As part of Venture’s response to high demand from the fast-growing electric vehicle market, the company kicked off an underground scoping study on the high-grade portion of the tin-tungsten resource at the Mount Lindsay project.

“There has been quite a lot of work carried out to advance the scoping study we have underway at Mount Lindsay, the results which we should be able to release to the market very soon,” Venture Minerals managing director Andrew Radonjic told The Resources Roadhouse.

“We could get Mount Lindsay into production reasonably quickly given that much of the work we have used for the scoping study is from the previously completed feasibility study.”

The scenario Venture Minerals is considering for Mount Lindsay is for a one hundred per cent underground operation.

The company recognises such an operation would lower the environmental footprint and the associated environmental risk and possibly reduce its capex from around $200 million to closer to $50 million

The flowsheet changes would include a much smaller and simpler plant, processing a higher-grade primary-source tin ore body.

In other words, a project that is more permittable and more fundable, operating in a more ethical environment than where a large portion of the world’s tin currently comes from.

The Thor prospect is situated within Venture’s 281 square-kilometre Southwest tenement package 240 kilometres south of Perth in Western Australia.

It is hosted within the Balingup Gneiss Complex, an area that was first identified as being prospective for base and precious metals by a Joint Venture between Teck Cominco and BHP Billiton.

The Teck/BHP JV completed surface sampling and airborne EM surveys to discover the Kingsley base and precious metals deposit, a meta-VMS system in high-grade metamorphic rocks.

Venture’s nearby Thor prospect hosts a strong and coherent arsenic in laterite anomaly with locally elevated levels of copper, zinc, tin, bismuth, tungsten and antimony, elements that are typically elevated in VMS systems.

Following the discovery of the main Thor target as well as three additional anomalies to the east, Venture focused on extending and refining the known exploration targets.

Surface sampling extended the main Thor target and identified additional targets to the north and south, pushing the total combined strike to over 10km of EM and geochemical targets.

The company later acquired the northern extension, meaning Thor now encompasses some 24 strike kilometres of prospective geology, which already hosts multiple VMS style targets.

The most recent work carried out at Thor consisted of an EM survey to follow up on a recent discovery Venture made of massive and semi-massive sulfides in reconnaissance drilling targeting a large historic EM anomaly.

The EM survey confirmed multiple priority VMS targets with final processing of the new data demonstrating the strongest responses sit outside of the areas drilled by two earlier reconnaissance holes targeting the Thor VMS style sequence, where a 17-metre zone of disseminated, semi-massive and massive sulfides with up to 0.3 per cent zinc and 0.2 per cent copper was intersected.

As a result, Venture is currently drilling to test the highest ranked targets based on these high-resolution survey results.

Just to round out its project portfolio, Venture recently acquired a prospective 374sqkm land package, situated less than 10km north of the Golden Grove Camp, which is currently Western Australia’s hotspot for VMS deposits.

The region has some sturdy VMS credentials. In 2002, Golden Grove had a resources and production endowment of 40.2 million tonnes at 1.8 per cent copper, 0.9 per cent lead, 7.6 per cent zinc, 103g/t silver and 0.8g/t gold.

The mine was recently acquired by EMR Capital for US$210 million.

It has been around 25 years since any VMS exploration was undertaken on the Golden Grove North project and Venture has signalled its intentions to implement a systematic exploration approach, utilizing the latest techniques to explore for VMS style mineralisation.

Several compelling target areas have already been identified throughout the project, including historic shallow gold drill intersections of:

10 metres at 1.4g/t gold from 16m;
8m at 2.1g/t gold from 6m;
6m at 2.3g/t gold from 6m and 3m at 3.6g/t gold from 95m.

Strong gold and copper surface rock chip sampling results have also been noted, including:

9.4g/t gold;
7.4g/t gold and 6.6 per cent copper;
6.2g/t gold;
5.7g/t gold;
4g/t gold;
3.8g/t gold and 0.1 per cent lead;
7.6 per cent copper and 27g/t silver, 8 per cent copper; and
2 per cent copper.

An extensive land position of interpreted lithologies prospective for VMS style mineralisation for over 25 strike kilometres also remains, due to cover, largely untested.

Since acquiring the project in October 2018, Venture Minerals has been collating historical data in preparation for a geological re-interpretation of the project in order to generate new VMS target areas for a field validation program.

 

Venture Minerals Limited (ASX: VMS)
…The Short Story

HEAD OFFICE
Suite 3, Level 3
24 Outram Street
West Perth, WA, 6005

Ph: +61 8 6279 9428

Email: info@ventureminerals.com.au
Web: www.ventureminerals.com.au

DIRECTORS
Mel Ashton, Andrew Radonjic, Hamish Halliday, John Jetter

 

Mt Lindsay Tin Continues to Hold Venture Minerals’ Gaze

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THE INSIDE STORY: Venture Minerals (ASX: VMS) is hoping the lithium-focused electronic car boffins can find room to introduce tin to their conversation.

With lithium dominating the battery world mind-set, some of what most pundits consider as the more traditional commodities, have been forced to share the back seat of the anticipated electric car revolution.

Nickel is one such example. The metal was fast becoming one of John Paul Young’s, Yesterday’s Heroes until it received a boost from an off-the cuff remark by Tesla boss Elon Musk in 2017.

Tin is another of these old-school commodities that is well-placed to enjoy a long-term future as an innovative, competitive and sustainable material.

There are plenty of uses in modern-day technology where tin is already a vital element.

These include solar panels where tin is making its mark on the next generation of cheaper solar cell materials, making ready to replace more expensive and nowhere near as abundant elements.

Tin has also been shown to make lithium-ion batteries last more than three times longer, positioning it as an obvious choice to meet the anticipated demand for better batteries in mobile phones, cameras, iPads and other mobile devices.

Of course, a new market for tin, as it is for all metals involved, is the use of lithium-ion batteries in hybrid and all-electric cars.

Tin gained a lot of domestic credence earlier this year when global powerhouse Rio Tinto presented at a battery metals conference in Perth.

Part of the Rio presentation was a slide showing the metals most impacted by modern technologies, ranked by the Massachusetts Institute of Technology (MIT).

Although Rio was using the information to push its Jadar lithium project in Serbia, using the MIT ranking to show lithium as the second most impacted metal, with the tin sitting above the market’s recent hot commodity, separated by a good amount of daylight.

MIT credited the result to tin’s applications across a range of modern technologies, ranging through autonomous and electric vehicles, advanced robotics, renewable energy, advanced computation and information technology.

Venture Minerals recognised this as the ideal time to raise the flag on the company’s Mount Lindsay project in Tasmania and immediately set a detailed reassessment of the project’s high-grade tin and tungsten Resource base in motion.

Venture Minerals has long-touted Mt Lindsay as being one of the world’s largest undeveloped tin projects, one that is ideally placed to take advantage of the recent rise in both interest and the price of tin.

The 148 square kilometre Mt Lindsay project is in north-western Tasmania within the contact metamorphic aureole of the highly perspective Meredith Granite.

The project sits between the world class Renison Bell tin mine, which has produced more than 231,000 tonnes of tin metal since 1968, and the Savage River magnetite mine that has operated for over 50 years and currently producing approximately 2.5 million tonnes per annum of iron pellets.

Venture owns 100 per cent of the tenure that hosts both the Mt Lindsay tin-tungsten deposit and all surrounding prospects.

Since commencing exploration on the project in 2007, Venture has completed approximately 83,000m of diamond core drilling at Mt Lindsay, from which it has defined JORC compliant Measured, Indicated and Inferred Resources of 4.7 million tonnes at 0.4 per cent tin and 0.3 per cent WO3 with over 60 per cent in the Measured and Indicated categories.

A Feasibility Study completed on the project with comprehensive metallurgical test-work and post feasibility determined a very high-grade 75 per cent tin concentrate result Venture considers to likely attract price premiums.

In 2012, Venture Minerals claimed a major new high-grade tin discovery only six kilometres from the Mt Lindsay project when drilling encountered a 47-metre intersection of tin mineralisation at the Big Wilson prospect that included: 17.4 metres at 2 per cent tin, including 4m at 5.6 per cent tin.

Venture Minerals interpreted the results as being a combination of high-grade skarn style mineralisation and, typically large tonnage, greisen style mineralisation.

The high-grade nature of the earlier Big Wilson drilling opens depth opportunities, as these grades would be amenable to underground mining.

The company has made its intentions clear that it will be considering strategies to optimise the higher-grade portions at Mount Lindsay.

Venture will now look to focus on assessing the underground mining potential of this high-grade resource.

“Knowing that the Mount Lindsay project has a large tin Resource that could be harnessed to meet applications in Electrical Vehicles and renewable energy has refocussed the company to revisit its approach in developing this asset,” Venture Minerals managing director Andrew Radonjic told The Resources Roadhouse.

“Mt Lindsay is a very advanced project in Tasmania that has plenty of Resource tonnes but has a higher-grade core that we could approach from an underground perspective.

“We have a fair degree of confidence in developing an underground operation there.

“Instead of originally looking to maximise the Resource through mostly open pit mining 14 million tonnes of ore we would more likely be looking at mining four million tonnes from purely underground which we believe is the best way of bringing forward tin and tungsten production from Mount Lindsay.

“We also have a number of high-grade targets that we can follow up.”

While the potential of Mt Lindsay continues to mount, Venture Minerals is focusing most of its current attention on the company’s Thor VMS prospect in Western Australia.

Venture has identified nine priority VMS (Volcanogenic Massive Sulphide) drill targets from preliminary results it received from an EM (Electromagnetic) survey carried out at the prospect.

Venture’s continued exploration efforts on Thor follow its recent discovery of massive and semi-massive sulphides in reconnaissance drilling targeting a large historic EM anomaly.

The company anticipates final processing of the new detailed survey, which utilised the latest EM technology, will shortly be complete, from which it will prioritise the targets in preparation for immediate drilling.

There has been a great deal of activity at Thor in recent times, including:

Completion of a high-resolution Xcite™ Airborne EM survey by New Resolution Geophysics (NRG) over the Thor prospect delivering the nine priority VMS style drill targets;

Confirmation of large VMS style target sequence extending over 20 kilometres of strike;

A maiden drill program that intersected a 17m zone of disseminated, semi-massive and massive sulphides using portable XRF confirming the presence of zinc and copper; and

Recent assays confirming the presence of zinc and copper with core samples containing up to 0.3 per cent zinc and 0.2 per cent copper.

Venture has now commenced work on the recently granted northern tenement at Thor (E70/5067), which holds 14 strike kilometres of the Thor VMS target zone with a surface geochemical sampling program.

Thor has the same EM and geochemical signature as Teck’s adjacent VMS Kingsley discovery, which is one of several VMS occurrences in the Archean Yilgarn Craton of Western Australia with the Golden Grove Camp (Mine), 450kms north-east of Perth, being the prime example with over nine VMS deposits spread over 13kms of strike.

“The early success we enjoyed from the EM survey was highly-encouraging,” Radonjic said.

“We are now looking forward to testing some of the nine priority drill targets as soon as we can.”

 

Venture Minerals Limited (ASX: VMS)
…The Short Story

HEAD OFFICE
Suite 3, Level 3
24 Outram Street
West Perth, WA, 6005

Ph: +61 8 6279 9428

Email: info@ventureminerals.com.au
Web: www.ventureminerals.com.au

DIRECTORS
Mel Ashton, Andrew Radonjic, Hamish Halliday, John Jetter

 

Venture Minerals Acquires Golden Grove North VMS Project

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) has acquired, what it declared as being, a highly prospective land package approximately 400 kilometres north-northeast of Perth in Western Australia.

Venture Minerals has picked up the 374 square kilometre package that sits less than 10 kilometres north of the Golden Grove Camp, which is currently Western Australia’s premier location for Volcanogenic Massive Sulphide (VMS) deposits.

In 2002, Golden Grove had an endowment (resources and production) of 40.2 million tonnes at 1.8 per cent copper, 0.9 per cent lead, 7.6 per cent zinc, 103 grams per tonne silver and 0.8g/t gold.

Recently EMR Capital purchased the Mine for $US210 million.

Venture explained that the newly-acquired Golden Grove North project has not been the focus of VMS exploration for the last 25 years, adding that it would be the company’s goal to use a systematic exploration approach, utilizing modern techniques to explore for VMS style mineralisation.

The company has already identified several target areas throughout the project, including a number of historic shallow gold drill intersections, several strong gold and copper surface rock chip sampling results and an extensive land position of interpreted lithologies prospective for VMS style mineralisation that remain, due to cover, largely untested.

Historic shallow gold drill intersections at the Golden Grove North project include:

10 metres at 1.4g/t gold from 16m;
8m at 2.1g/t gold from 6m;
6m at 2.3g/t gold from 6m; and
3m at 3.6g/t gold from 95m.

Historic surface rock chip sampling has returned assays of:

9.4g/t gold;
7.4g/t gold and 6.6% copper;
6.2g/t gold;
5.7g/t gold;
4g/t gold;
3.8g/t gold and 0.1 per cent lead;
7.6 per cent copper and 27g/t silver;
8 per cent copper; and
2 per cent copper.

“This is an exciting VMS opportunity for Venture with a significant, largely untested, land package sitting on the doorstep of a world class VMS Camp in Western Australia,” Venture Minerals managing director said in the company’s announcement to the Australian Securities Exchange.

“We look forward to generating numerous VMS targets for testing in the near future.”

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Venture Minerals Identifies New Thor Drill Targets

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) announced the identification of nine priority VMS (Volcanogenic Massive Sulfide) drill targets at the company’s Thor VMS prospect in Western Australia.

Venture Minerals said the targets had been identified from preliminary results of a recently completed EM (Electromagnetic) survey at the Thor VMS prospect.

Venture has focused exploration efforts on Thor, following the recent discovery of massive and semi-massive sulfides in reconnaissance drilling targeting a large historic EM anomaly.

The company expects final processing of the new detailed survey, which utilised the latest EM technology, to shortly be complete, allowing it to prioritise the targets in preparation for immediate drilling.

Recent highlights at the Thor prospect include the EM survey results along with confirmation of large VMS style target sequence extending over 20 kilometres of strike.

The first drill program intersected a 17-metre zone of disseminated, semi-massive and massive sulfides with portable XRF confirming the presence of zinc and copper.

Assays confirmed the presence of zinc and copper with core samples containing up to 0.3 per cent zinc and 0.2 per cent copper.

“The company is encouraged by the early success from the new EM survey around the Thor VMS prospect and is looking forward to testing some of the nine priority drill targets in the very near future,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

Venture expects some of the priority drill targets will likely be accessible from previously permitted drill sites once the final EM survey results confirm the target locations.

Should this be the case, drilling preparations can commence immediately.

The company anticipates final EM results to produce an improvement of other EM features within the 20km VMS target zone and the remainder of the tenure once levelling of the data and removal of cultural features has been completed.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Venture Minerals Confirms VMS System at Thor

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) fielded a crowd of onlookers at its booth on Day Three at the Diggers & Dealers Mining Forum in Kalgoorlie.

The interest stemmed from its announcement of the intersection of a 17 metre zone of disseminated, semi-massive and massive sulfides during the maiden drill program at the company’s Thor VMS (Volcanogenic Massive Sulfides) prospect in Western Australia.

Venture claims Thor to demonstrate the same electromagnetic (EM) and geochemical signature as Teck’s adjacent VMS Kingsley discovery but is substantially larger in scale with up to 20 strike kilometres of a VMS style target sequence.

Venture has completed a visual inspection and preliminary hand-held XRF analyses on the diamond core, which it said has verified the presence of copper and zinc (chalcopyrite and sphalerite) within the pyrrhotite dominated sulfides.

Additionally, other elements such as lead, bismuth, tin, tungsten and arsenic have also been identified confirming VMS style mineralisation.

Samples have been submitted for assay to confirm the system is mineralised.

In response to the new discovery Venture is commissioning an airborne electromagnetic survey to commence immediately over the entirety of the Southwest tenement package.

The survey will not only target the 20 strike km of the Thor priority VMS drill target, but also the other VMS targets within Venture’s tenure.

The company considers that using the latest EM technology will further enhance itys ability to identify potentially higher-grade areas of the Thor VMS system.

“Confirmation that the EM signature represents sulfides has substantially raised the prospectivity of the 20 kilometre long VMS Thor target,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“In addition, the identification of copper and zinc within those sulfides has made Thor a top priority target for Venture moving forward.”

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Venture Minerals Approved for Thor Drilling

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has been granted approval to drill at the company’s Thor VMS (Volcanogenic Massive Sulfides) prospect in Western Australia.

Venture Minerals said it had designated Thor as a ‘priority VMS drill target’ due to its scale, geochemical and geophysical signature and its proximity to a VMS style, massive sulfide body containing copper, lead and zinc that had previously been identified at the neighbouring Kingsley prospect by Teck.

Venture’s Thor-focussed maiden drill program is to initially consist of three drill holes and has received co-funding from the Western Australian State Government.

Besides Thor, Venture has identified a further five priority VMS targets extending over a combined strike of 10 kilometres.

Two of these targets are coincident geochemical and EM anomalies like Thor while the other three targets contain anomalous copper and zinc values and exhibit a very similar geochemical response to the main Thor anomaly.

The company has recently secured the northern extension of the Thor target with up to an additional 14 strike kilometres of prospective VMS host unit within the new tenement application.

“Knowing that VMS deposits often occur within a cluster, positions the company well to replicate the success by Teck but at a much greater scale and not just once but with the added option to make repeated discoveries,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au