- Venture Minerals (VMS) has confirmed a volcanic massive sulphide (VMS) system at the Orcus prospect in Western Australia
- Up to 7 per cent zinc was intersected and all three drill holes returned strong zones of VMS style mineralisation
- Up to 20g/t silver, 0.94g/t gold, and 1 per cent copper was also encountered
- Additionally, Venture has confirmed that the large electromagnetic (EM) conductor plate at Orcus hosts significant VMS style mineralisation
- The company has also completed a moving loop EM survey and identified multiple new conductors that extend several kilometres of strike
- A diamond rig has been contracted to target extensions to the Orcus sulphide system and test the newly identified conductors
- Venture Minerals is up 2.63 per cent with shares trading at 3.9 cents
Venture Minerals (VMS) has confirmed a volcanic massive sulphide (VMS) system at the Orcus prospect.
The prospect is part of the Golden Grove North Project which lies 370 kilometres north-northeast of Perth in Western Australia.
Up to 7 per cent zinc was intersected and all three drill holes returned strong zones of VMS style mineralisation.
Results include two metres at 4.4 per cent zinc, 0.87 per cent copper, 0.94g/t gold and 17g/t silver from 100 metres including one metre at 7.6 per cent zinc, 1 per cent copper, 0.17g/t gold, and 20g/t silver from 101 metres.
Additionally, Venture has confirmed that the large electromagnetic (EM) conductor plate at Orcus hosts significant VMS style mineralisation.
This conductor plate measures 800 metres in length and 600 metres down dip, and Venture will now test it both along strike and down dip.
Additionally, Venture has also completed a moving loop EM survey and identified multiple new EM conductors that extend several kilometres of strike.
A diamond rig has been contracted to target extensions to the Orcus sulphide system and test the newly identified EM conductors.
“The confirmation of a VMS system with assays of high grade zinc and copper, gold and silver returned from the first drill holes at Orcus suggests that the Golden Grove North Project has the potential to host a significant body of VMS mineralisation,” Managing Director Andrew Radonjic said.
“This early success at Orcus combined with numerous strong EM conductors identified throughout the project delivers the company an excellent opportunity to deliver on-going exploration success targeting what appears to be a significant VMS system,” he added.
Venture is up 2.63 per cent on the market with shares trading at 3.9 cents at 12:22 pm AEDT.