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.”