THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has claimed to have made a new gold discovery at the company’s 100 per cent-owned Kulin project in Western Australia.
Venture Minerals’ Kulin project sits within the South West Terrane of the Yilgarn Archean Craton, which already contains several major gold deposits such as Australia’s 2nd largest gold producer, Boddington and Edna May.
The company explained it had initially focused on surface sampling and mapping programs over the priority target for nickel and PGE mineralisation, which coincided with an area of historic gold prospectivity identified by BHP with a peak rock chip result of 1.5 g/t gold.
Further soil sampling resulted in Venture delineating a cluster of six high-order (peaking at 399ppb (0.4g/t)) gold-in-soil anomalies within a 2km by 1km area of gold anomalism, which it claims to be comparable in size to the soil geochemical footprint of the nearby Tampia gold deposit.
The Kulin project has delivered Venture a great opportunity for the company to become an active gold explorer in an already proven, but still emerging, gold province in the South Western part of the World Class Yilgarn Archean Craton, already home to some of Australia’s largest gold mines,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.
“Venture is further encouraged by the historic gold exploration work done by BHP which had already recognised Kulin as a gold target as it did for Tampia which, following Ramelius’ takeover, is now planning to mine in 2021.
“The company is now preparing for a low-cost drilling campaign to test these priority targets and looks forward to updating shareholders when the results come to hand.”