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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
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, 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.
