Venture Minerals’ ‘Julimar Lookalike’ Target Receiving Chalice Mining EM Treatment

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) announced that Chalice Mining (ASX: CHN) has recommenced a ground EM program at Venture’s South West nickel-copper-PGE project in Western Australia.

Venture Minerals’ project is located within Chalice’s interpreted highly prospective West Yilgarn nickel-copper-PGE province.

The EM program had started in late April 2021 but was put on hold in June due to wet weather.

Chalice’s geophysical survey is part of the first stage of the JV earn-in focused on Venture’s Thor Target, a 20 kilometres long, ‘Julimar lookalike’ magnetic anomaly interpreted to be mafic-ultramafic intrusive complex, in which Chalice may earn up to 70 per cent by spending $3.7 million on exploration over four years.

The remainder of the Chalice’s EM program will be fixed-loop EM surveying to cope with the difficult nature of the terrain and is to be carried out over an area where Venture’s airborne EM survey delineated 13 highly conductive anomalies within the southern 6.5km of the ‘Julimar lookalike’ magnetic anomaly.

“The Board is pleased to see the recommencement of our JV partner Chalice Mining’s ground EM program, with this next phase targeting the area where Venture’s own airborne EM survey delineated 13 anomalies, suggesting the current survey is highly likely to generate further bedrock conductors and potentially high priority drill targets,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“What is most exciting is the opportunity this gives to Venture shareholders with Chalice potentially drilling these conductors early next year with the aim of making another Julimar discovery.”