Drilling delivers consistent REE intersections at Venture Minerals’ Jupiter project
Six of the top 13 drill intersections seen to date including 80m at 1839ppm TREO
Results to determine the extent of the next phase of drilling
Special Report: The first batch of assays from recent drilling has further underscored the potential scale and grade of Venture Minerals’ Jupiter project after returning the highest rare earths intersection of 80m at 1839ppm TREO.
The results also indicated that consistent high-grade zones continue with +2000 parts per million (ppm) total rare earth oxide (TREO) over 20-30m widths within broader zones of up to 80m that grade well over 1,000ppm TREO.
The company has been working towards defining a resource at the clay-hosted project, since previous drilling returned an eye-watering 48m intersection at 3025ppm TREO.
Its initial drilling program of 81 holes totalling 5074m intersected broad, zones of REE mineralisation with very high-grade assays, up to 26,958ppm TREO (in hole BRAC047), have been returned as well as a standout 60m intersection grading over 2000ppm TREO.
The Jupiter project in relation to the Brothers project. Pic: Venture Minerals
Aircore drilling keeps up momentum
VMS has now received assays from the first 59 holes from the recently completed drilling program of 246 aircore holes totalling 14,370m that brought the drill density across the 40km2 target to a 500m by 200m spacing.
This will provide meaningful data for a maiden resource estimate at Jupiter.
Besides confirming the consistent high-grade zones in broader (still rich) zones, the drilling also returned six of the top 13 drill intersections seen at the project to date.
Adding interest, valuable magnet REOs (MREOs) continue to average 23% in samples over +1000ppm TREO.
“The great intersections just keep on coming at Jupiter! Another batch of drilling results and another record clay-hosted REE drill intersection,” managing director Philippa Leggat said.
“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.”
This article was developed in collaboration with Venture Minerals a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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