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.”
Click here for the full ASX Release
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.
Credit: Source link
