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The Board of Venture Minerals (ASX: VMS) is pleased to announce the first batch of assay results from recent drilling at the 70%-owned, clay-hosted Jupiter Rare Earths Project.
HIGHLIGHTS
The latest drill results include the highest REE intersection to date, 80 metres at 1,839 ppm TREO1 from 8 metres below surface
- Consistent high-grade zones continue with +2,000 ppm TREO over 20-30m widths
- High-grade zones within broader zones up to 80m grading well over 1,000 ppm TREO
- Magnet Rare Earth Oxides (MREO2) continue to average 23% in samples over +1,000 ppm TREO
- Thorium and Uranium consistently remain extremely low
- Results continue to validate the geophysics over the 40 km2 target
- These latest drill results include 6 of the top 13 intersections received to date (BRAC091,092,093,096,097,114)
- Drill program brings the drill density down to 500m x 250m spacing across the 40 km2 target
- Assay results represent first 59 holes from the recently completed 246 Aircore drill program
- Assays results from 187 holes pending
Managing Director, Philippa Leggat, said
“The great intersections just keep on coming at Jupiter! Another batch of drilling results and another record clay-hosted REE drill intersection. It’s fantastic to see infill drilling continue to deliver such consistent results, with impressively broad zones of high-grade mineralisation confirmed in hole-after- hole. This is the kind of substance that builds a meaningful project.
“We have an incredible team working on Jupiter, led by experienced geologist Dr Stuart Owen. Dr Natalee Bonnici (ex IGO and Northern Star) is a geo-metallurgist who recently joined our team, bringing her specialist skills to our understanding of the mineralisation at Jupiter. Their work is the foundation that means our metallurgical work will be done on representative samples. We are doing the work the right way, because this project is too big and too good to be wasted on short-cuts.
Jupiter’s scale, grade and tier 1 location all play into the strategic nature of this discovery. They infer the incredible potential which attracted Nick Cernotta and Tim Lindley to join the Board. This potential is the basis for our vision to restructure the Company to become one of the best rare earths and critical minerals companies in Australia, while delivering meaningful shareholder value.”
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This article includes content from Venture Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
VMS:AU
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
