THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has commenced drilling at the Odin prospect, located within the Greenbushes Mineral District of Western Australia.
Venture Minerals describes the Odin prospect as a, “substantial lithium target” situated just south of the world’s largest hard rock lithium mine that produces approximately 40 per cent of the world’s lithium.
Venture indicated the maiden drill program is being carried out with co-funding from the Western Australian State Government.
The company identified the Odin prospect from geological mapping and geochemical sampling undertaken approximately 12 kilometres east of its Thor VMS (Volcanogenic Massive Sulphides) prospect.
Results from the geological mapping and surface geochemical sampling identified the Odin prospect as a potentially lithium bearing pegmatite extending over 1.9km of strike and up to 150m wide.
It is covered by laterite, but geochemistry is analogous to Greenbushes with elevated levels of tin, tantalum and niobium in laterite samples.
“The company is excited about this rare opportunity to explore for a potential Greenbushes ‘look-a-like’,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.
“To have the World’s largest hard rock lithium mine be the only lithium deposit to be discovered within the geological district is unusual and highly unlikely, and this fact alone makes Odin a priority exploration target for Venture.”