THE DRILL SERGEANT: Venture Minerals (ASX: VMS) received results from the first hole drilled at the company’s Caesar project in Western Australia.
Venture Minerals conducted the drilling, co-funded by WA State Government’s Exploration Incentive Schem, targeting nickel-copper-cobalt sulphide mineralisation.
The company claimed the drill hole (CSD01) intersected minor disseminated sulphides throughout a zone of dolerite located in the hole and had verified the presence of nickel, cobalt and copper within the intersected sulphides.
Venture declared the results to confirm the mafic rocks (dolerite and gabbro) at Caesar host nickel-copper-cobalt sulphide mineralisation.
On the back of the results Venture has now applied for a further 70 square kilometres of tenure immediately to the north it believes to contain interpreted extensions of the same dolerite and gabbro units.
In addition, CSD01 returned an 18-metre intersection that included: one metre at 1.8 grams per tonne gold, 4.6g/t silver, 806ppm copper, 655ppm zinc and 578 ppm lead.
“The potential for gold mineralisation at the Caesar project is now being evaluated through interpretation of arsenic assay results from the previous surface sampling,” Venture Minerals said in its ASX announcement.
“This work has already highlighted several additional gold targets within the Caesar project.”
Venture Minerals indicated that the drilling of CSD01 did not test the strongest surface geochemical response within the project area, which means follow-up drilling will be designed to re-test the target.
To fully evaluate the potential for gold mineralisation occurring within the project area the company will re-analyse previously collected surface lag samples for gold.
Once the new land application to the north has been granted, a surface geochemistry (lag sampling) program will be initiated to test for extensions of the same dolerite and gabbro units already identified at Caesar.