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Venture Minerals Ltd (ASX:VMS) has completed drilling work which has yielded the company’s highest intersection of rare earth elements to date – standing at 80 metres at 1,839 part per million total rare earth oxides (TREO) – at the Jupiter project in Western Australia.
The intersection was found only 8 metres from surface, and added to other results which showed consistent high-grade zones grading 2000 ppm TREO across widths of 20 to 30 metres, as well as broader zones – of 80 metres – which went well over 1000 ppm.
Moreover, the company continues to reach grades of 23 percent in magnet rare earth oxides in samples which are also over 1000 ppm TREO, while samples remain extremely low in thorium and uranium.
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,” she said.
“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.”
Venture has been trading at 2.3 cents.
