Drilling at Venture’s Jupiter prospect has returned a 5,056ppm NdPr intersection
Stage 1 holes continue to return consistent high-grade zones of +2,000ppm TREO
Results validate geophysics and cover just a small part of the 40km2 target
Special Report: Breaking records is fast becoming a habit for Venture Minerals at its Jupiter clay-hosted rare earths prospect, with the latest drilling returning a stunning intersection of 5,056ppm of just neodymium and praseodymium oxides.
The record intersection of the valuable magnet rare earth oxides (MREO), within a 2m intersection grading 13,906ppm total rare earth oxides (TREO), is just the latest winner delivered from the Jupiter prospect within the company’s broader Brothers project in WA’s Mid-West region.
In February, Venture Minerals (ASX:VMS) reported an eye-watering 48m intersection grading 3,025ppm TREO, which is believed to be the highest clay-hosted REE intersection ever for an Australian project.
The results certainly breathe a great deal of confidence into the potential of Jupiter to host REEs of significant scale and grade.
That the project is close to Lynas Rare Earths’ (ASX: LYC) Mt Weld rare earths concentrator and Iluka Resources’ (ASX: ILU) Eneabba refinery, which is currently in development, only adds to its prospectivity.
Significant drill intersections at the Jupiter REE prospect. Pic: Supplied (VMS)
Consistent high-grade REE zones
Stage 1 drilling of 81 holes totalling 5,074m has now delivered even more reasons for VMS to break out the champagne.
Besides the record intersection in hole BRRC 061, which consists of 3,824ppm neodymium and 1,232ppm praseodymium, the second batch of assays delivered consistent high-grade zones of +2,000ppm TREO with multiple +1,000ppm NdPr intersections.
These high-grade zones also sit within broader zones of up to 72m grading well over 1,000ppm TREO.
Valuable MREOs continue to average about 23% of the total REEs in intersections over +1,000 ppm TREO, while elevated levels of samarium – a metal with defence applications – grading up to 389ppm have also been observed.
“Jupiter continues to deliver broad zones of high-grade mineralisation with standout levels of REE minerals that are in high demand,” VMS managing director Andrew Radonjic said.
“The record intersection of over 5,000 ppm of NdPr oxides in these results compliments the previous batch of very-high grade results. Neodymium and praseodymium are vital to the manufacture of permanent magnets for decarbonisation and defence applications.
“The scale, high-grade nature of the results and prime location of the project provide all the necessary ingredients to position Jupiter as a major, rare earths discovery.”
VMS also says the results continue to validate geophysics and cover only a small portion of the 40km2 target.
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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