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Venture Minerals and Chalice Gold Mines Sign South West Project Agreement

THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) inked a Binding Terms Sheet with Chalice Gold Mines (ASX: CHN) with the aim of unlicking the potential of Venture’s South West project in Western Australia.

Chalice Gold Mines made news recently by claiming discovery of the Julimar nickel-copper-PGE discovery in a new province near Perth.

The company has committed to spend up to $3.7 million to earn 70 per cent in Venture’s South West project, located south of Perth.

Chalice will advance previous exploration completed by Venture to test for nickel-copper-PGE sulphides in potential ultramafic-mafic intrusive complexes sitting under cover within the South West project.

The two main prospects within the project are Thor and Odin that both contain areas of potential nickel-copper-PGE prospectivity.

Thor is a 20km long magnetic anomaly associated with chromium rich rocks indicative of maficultramafic intrusions.

Odin has previously been subjected to one drill hole drilled that encountered nickel and copper sulphides within a prospective maficultramafic unit that extends over 10 strike kilometres.

This was further supported by surface sampling returning nickel and copper geochemical anomalies.

“The company looks forward to seeing Chalice use its nickel-copper-PGE exploration expertise at the South West project, which sits in the same geological terrane to that of the Julimar discovery,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“This gives Venture shareholders the best opportunity of bringing forward any potential Julimar ‘look-a-like’ discovery within the project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Venture Minerals Claims New VMS Discovery at Golden Grove North

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) declared the discovery of a further Volcanic Massive Sulphide (VMS) discovery at the company’s Golden Grove North project in Western Australia.

Venture Minerals has defined the Neptune VMS target located along strike from the Golden Grove VMS mine.

Neptune sits within the Golden Grove Mine Sequence, which hosts all VMS deposits discovered in the Golden Grove Camp (Mine).

Venture Minerals acquired the Golden Grove North project in 2018.

Prior to its ownership, previous owners had worked up an endowment (resources and production) in 2002 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.

When purchased by EMR Capital in 2017 for $US210 million in June 2019 the project still over 50 million tonnes of resources and reserves for another 12 years of production.

Although the Golden Grove North project had not been the focus of VMS style exploration for some 25 years, Venture Minerals determined to use a systematic exploration approach, utilising the latest techniques to explore for VMS style mineralisation.

Neptune is now the second VMS target to yield from that work program, following an examination of a collated dataset from numerous phases of exploration activity by various companies over the last four decades.

Venture consider Neptune to be a high priority target with highly anomalous copper and VMS pathfinder elements intersected in historic RAB3 (shallow) drilling in an area under alluvial/colluvial cover, which has not been targeted with modern day EM technology to detect VMS style deposits.

The second substantial find identified at Golden Grove – the Scuddles deposit (10.5Mt at 1.2% copper, 11.7% zinc, 0.8% lead, 89g/t silver and 1.1g/t gold) was discovered by using EM techniques under similar cover after initial RAB3 drilling was deemed too shallow.

Venture believes Neptune presents a very similar opportunity.

Venture has also identified a nickel sulphide target area north of Neptune it considers worthy of EM testing as part of an up-coming survey.

These recent outcomes have encouraged Venture to increase its activity at Golden Grove North, not only working on its current targets but also delineating further VMS and nickel sulphide targets within the project area through further cost-effective exploration techniques.

“Golden Grove North has delivered another two exciting discoveries, with Neptune exhibiting the hallmarks of a potential Scuddles like discovery scenario; whilst an unexpected nickel sulphide target has come up in an area never previously explored for nickel and hence presenting a unique opportunity for the company,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“These recent successes at Golden Grove North along with its proximity to the world class Golden Grove zinc-copper-gold mine are certainly validating Venture’s belief in the pedigree of this project. We look forward not only to the outcome of the EM surveys but to the drilling of the priority targets generated by it.”

 

Email: admin@ventureminerals.com.au

Web: www.ventureminerals.com.au

 

Venture Minerals Scores Tasmanian Government Co-Funding to Drill Mt Lindsay EM Targets

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has secured co-funding from the Tasmanian Government to drill test priority EM targets at the company’s Mt Lindsay tin project in 2020.

Venture Minerals enjoyed a successful outcome of submissions it made to the Tasmanian State Government, receiving for co-funding of up to $202,000 for exploration drilling to be carried out at three priority targets the company generated via a recently completed Major EM Survey over the Mount Lindsay project.

The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell-style high-grade tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets.

The Mount Lindsay project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset, which Venture Minerals believes will only be further enhanced by the delineation of several high-priority drill targets of the same style of mineralisation through the recently completed major EM Survey.

Venture claims Mount Lindsay as one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten.

Tin is now recognised as a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000 tonnes per annum by 2030 (world tin consumption was 363,500t in 2018).

Venture explained the Renison-style target is a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine.

“The successful submission for co-funded drilling (in 2020) of some of our priority drill targets generated by the recently completely Major EM Survey at Mount Lindsay validates the strength of all the numerous priority targets at Mount Lindsay that include Renison-style tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“With the increased exploration potential at Mount Lindsay combined with its current status as one of the largest undeveloped tin assets in the world, clearly Mount Lindsay is a leading Australian Critical Minerals Project.

“Tin and tungsten are globally classified as critical minerals.

“Recently the Australian Government said that global demand for Australian resources has broadened in recent years to include minerals used in a range of emerging high tech applications across a variety of sectors such as renewable energy, aerospace, defence, automotive (particularly electric vehicles), telecommunications and agri-tech.

“Known as critical minerals, this group of minerals is considered essential for the economic and industrial development of major and emerging economies.”

 

Email: info@ventureminerals.com.au

Web: www.ventureminerals.com.au