Venture Minerals Looking at Julimar Lookalike Via Chalice EM Survey

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) reported it Joint Venture partner, Chalice Mining (ASX: CHN) has generated seven new EM anomalies from a recently completed ground EM program at the company’s South West nickel-copper-PGE project in Western Australia.

Venture Minerals said this brings the total number of new targets to 11 from the Chalice ground EM program, which is part of the first stage of the JV earn-in focused on Venture’s Thor target, a 20km long, Julimar lookalike (as defined by Chalice), magnetic anomaly at the South West project.

The seven new EM anomalies defined by Chalice have been interpreted to be of similar strength conductors to those that yielded wide palladium intervals during the early drilling phase of the Julimar nickel-copper-PGE discovery.

One of the seven new EM anomalies also coincides with the 2.4 metres of massive sulphide intersected in previously drilled TOR05, which averaged 0.5 per cent copper, 0.05 per cent nickel, 0.04 per cent cobalt and contained anomalous gold and palladium, making that conductor a potential priority drill target (still to be determined by Chalice).

“Venture’s JV partner Chalice Mining has now delivered several new EM anomalies within the Thor ‘Julimar lookalike’ target from the first stage of the JV earn-in to the company’s South West project,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“To have a partner that has ‘one of the largest greenfield nickel-copper-PGE sulphide discoveries in recent history’ will be of huge benefit in this very important second stage of the JV with Chalice, including a maiden drill program at Thor.

“Venture, through its South West JV with Chalice, is well placed for a new nickel-copper-PGE discovery and the associated excellent exposure to nickel, which is now at 10-year highs, and palladium with its widespread applications in a green hydrogen economy.

“The company looks forward to the commencement of drilling at the South West project in the coming months where success will only add to Venture’s extensive portfolio of enviable resource assets.”

 

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Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au