{"id":7203,"date":"2024-03-15T01:42:28","date_gmt":"2024-03-15T01:42:28","guid":{"rendered":"https:\/\/economicherald.net\/?p=7203"},"modified":"2024-03-15T01:42:28","modified_gmt":"2024-03-15T01:42:28","slug":"venture-minerals-launches-enormous-300-hole-stage-2-drill-program-at-its-emerging-jupiter-ree-prospect","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7203","title":{"rendered":"Venture Minerals launches enormous 300-hole Stage 2 drill program at its emerging Jupiter REE prospect"},"content":{"rendered":"

Venture Minerals has kicked off a 300-hole drill program at its Jupiter REE prospect in WA\u2019s Mid West
\nStage 2 focus follows consistent high-grade REE assays from Stage 1 drilling
\nJupiter is proximal to the world-class Mt Weld rare earths operation and Iluka\u2019s upcoming Eneabba refinery<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: With consistent high-grade REE numbers pouring in from Stage 1 drilling at the Jupiter prospect, Venture Minerals has now committed to an extensive 300-hole Stage 2 program which could culminate in delivery of a maiden resource estimate.<\/strong><\/p>\n

Jupiter is part of Venture Minerals\u2019 (ASX:VMS)<\/strong><\/a> Brothers REE project and located very close to Lynas Rare Earths\u2019 (ASX:LYC)<\/strong><\/a> Mt Weld concentrator and Iluka Resources\u2019 (ASX:ILU)<\/strong><\/a> Eneabba refinery currently in development \u2013 that nearology gives it a big boost in terms of development metrics.<\/p>\n

The Australian Government is heavily backing Iluka\u2019s REE refiner, which is due to start production in 2025, receiving a $1.05 billion non-recourse loan as part of a risk-sharing arrangement with a $200 million cost overrun facility to boot, as part of an overall $2 billion Critical Minerals Facility.<\/p>\n

\u00a0<\/p>\n

Consistent high-grade REEs at Jupiter<\/strong><\/h2>\n

VMS has now kicked off a massive 300-hole aircore drill program that will bring in the drill density across the 40km2 Jupiter target to a 500m by 250m spacing to obtain the data necessary for a planned maiden resource estimate (MRE).<\/p>\n

Jupiter has so far demonstrated very high-grade rare earths content, including an Australian record clay-hosted intersection<\/strong><\/a> of 48m @ 3,025ppm total rare earth oxides (TREO) during Stage 1 drilling.<\/p>\n

Assays from 46 of the 51 drill holes have been received from the Stage 1 drill program, returning >1,000ppm TREO grades consistent with the explorer\u2019s previously announced drilling program results<\/strong><\/a> from the project.<\/p>\n

Drilling has also consistently delivered high-grade zones of >2,000ppm TREO over 20-30m widths and crazily high intercepts up to 13,906ppm and 20,538ppm TREO.<\/p>\n

What makes these numbers even more exceptional are the high concentrations of valuable magnetic rare earth oxides (MREO) such as neodymium (Nd) and praseodymium (Pr) within the TREO averaging 23% in intersections >1,000ppm.<\/p>\n

\u00a0<\/p>\n

The Jupiter prospect drill holes and REE grades at the Brothers project. Pic: Supplied (VMS<\/p>\n

\u00a0<\/p>\n

Up next<\/strong><\/h2>\n

The 300 aircore holes are expected to take 6-8 weeks and several batches will be submitted as the program runs.<\/p>\n

In the meantime, a final batch of assays from the last 30 holes of the Stage 1 drill program are expected shortly and metallurgical test work is progressing in the lead-up to the MRE.<\/p>\n

\u201cWith the recent record drill results delivered by the first two batches of assays from the Stage 1 resource definition drill program at Jupiter, the company has committed to an extensive 300 drillhole Stage 2 program to accelerate towards delivering the much-anticipated maiden resource,\u201d VMS managing director Andrew Radonjic says.<\/p>\n

\u201cThe highlights to date clearly demonstrate that Jupiter is emerging as a major rare earths discovery in a Tier 1 mining jurisdiction of WA between Lynas\u2019 existing plant and Iluka\u2019s planned REE processing facilities.<\/p>\n

\u201cShareholders should expect plenty of news flow in the following weeks with assays from the final batch of the Stage 1 program due shortly and assays from the several batches of samples that will be submitted over the course of this current drill program.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Venture Minerals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Venture Minerals launches enormous 300-hole Stage 2 drill program at its emerging Jupiter REE prospect<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Venture Minerals has kicked off a 300-hole drill program at its Jupiter REE prospect in WA\u2019s Mid West Stage 2 focus follows consistent high-grade REE [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7204,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nVenture Minerals launches enormous 300-hole Stage 2 drill program at its emerging Jupiter REE prospect - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7203\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Venture Minerals launches enormous 300-hole Stage 2 drill program at its emerging Jupiter REE prospect - 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