THE DRILL SERGEANT: Venture Minerals (ASX: VMS) announced the first hole at the company’s Odin prospect in Western Australia.
Venture Minerals said the hole, co-funded by WA State Government’s Exploration Incentive Scheme, intersected disseminated nickel-copper sulfides within a mafic-ultramafic host unit, had provided the company with a new nickel-copper target.
The company declared the Odin nickel-copper target to possess nickel-copper sulphides that were identified within a highly prospective mafic-ultramafic unit that extends over 10 strike kilometres.
Reconnaissance surface lag sampling has indicated the presence of a nickel and copper anomalism within the target maficultramafic units.
Venture said the Odin nickel-copper target also hosts a historic untested electromagnetic (EM) anomaly, adding that opportunity exists for the identification of more EM anomalies via modern high-power surveying.
Venture explained that the first hole at Odin (ODD01) initially targeted pegmatite units which have the potential to host lithium such as the nearby Greenbushes Mine.
A total of 20m of pegmatites spread over several intervals was intersected within the maficultramafic gneiss.
The assay results concluded that the pegmatites intersected in ODD01 did not contain significant lithium.
“The company is excited by the new opportunity identified at the Odin prospect,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.
“Although the pegmatites intersected in the first hole were not lithium bearing, the discovery of a broad zone of nickel bearing sulphides within the lithium target zone has delivered Venture an excellent new opportunity.”