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.