Venture Minerals’ drilling returns massive 57m at 3430ppm TREO intersection at Jupiter
This particular area has delivered three of the top 10 intersections recorded over the entire prospect
Consistently thick and high-grade mineralisation intersected over entire 40km² area of the Jupiter alkaline intrusion
Special Report: Venture Minerals has received a clear sign of how its Jupiter rare earths discovery can tip the scales after drilling delivered another record-breaking intersection of 57m grading 3430ppm TREO.
This latest scorcher is yet another point in favour of the likelihood that the company’s goal of defining maiden resources at the prospect within its Brothers REE project just west of Mount Magnet in WA will bear exceptionally sweet clay-hosted REE fruit.
Since receiving a 48m intersection at 3025 parts per million (ppm) total rare earth oxides (TREO) from the first batch of assays from its Stage 1 resource definition drill program, which was at that time understood to be the highest-grade clay hosted REE intersection for an Australian project, Venture Minerals (ASX:VMS) has enjoyed a steady influx of encouraging news.
Drill result after drill result – including a recent 8m intersection grading a rich 5716ppm TREO – has outlined not only high grades but also remarkable consistency between drill holes.
The prospect is close to Lynas Rare Earths’ (ASX:LYC) Mt Weld concentrator and Iluka Resources’ (ASX:ILU) Eneabba refinery that is currently in development in WA’s Mid-West.
It is also less than 10km from the bitumen highway that runs between Mount Magnet and Geraldton, providing easy access to the labour centres and the Port of Geraldton while the Mid-West gas pipeline runs parallel to the bitumen highway.
Jupiter’s 40 km2 target area with drill hole locations coloured by TREO grade thickness on gravity image. New intersections with >2000ppm TREO zones annotated. Pic: Venture Minerals
Knocking out records
VMS’ intersection of 57m at 3430ppm TREO in hole BRAC281 is encouraging as it not only tops the charts but also underscores how successful drilling has been in this particular area of Jupiter.
Drilling in this area has delivered three of the top 10 intersections recorded over the entire prospect, which speaks volumes about its potential for future development.
Assays from the now-completed 356 hole drill program totalling ~22km have confirmed thick clay zones up to 80m thick over the entire 40km² Jupiter alkaline intrusion.
This clay zone has broad, high-grade REE mineralisation that typically demonstrates excellent continuity in both grade and width.
That nearly a quarter (23%) of the intersected REEs are valuable magnet REEs used to manufacture permanent rare earth magnets used in electric vehicle motors and wind turbines just adds further to Jupiter’s potential.
“With this batch of results we’ve now received assays from drilling over the entire Jupiter system and the potential they indicate for our upcoming maiden resource has heightened our anticipation,” managing director Philippa Leggat said.
“These results come at a time when we have secured 100% ownership of the project and attracted high-quality institutional investors to fund the company for the next 18 months.”
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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