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- Venture Minerals (VMS) confirms the presence of high-grade clay-hosted rare earth mineralisation at its Greater Brothers project in Western Australia
- Several intersections of up to 15 metres at more than 2000 ppm of TREO, within broader zones of up to 45 meters at approximately 1500 ppm of TREO
- The thickness at early stages shows “significant potential” for the project to host a world-class, clay-hosted rare REE deposit
- The company is focusing on the next stage of work, including metallurgical test work to discover how much of the clay-hosted mineralisation can be recovered using current processing techniques
- Shares are up 14.3 per cent, trading at 1.6 cents at market close
Venture Minerals (VMS) has confirmed the presence of high-grade clay-hosted rare earth mineralisation at its Greater Brothers project in Western Australia.
The company’s recent maiden drilling program struck several intersections of up to 15 metres at more than 2000 parts per million (ppm) of total rare earth oxides (TREO), within broader zones of up to 45 metres at approximately 1500 ppm of TREO.
Venture reported the thickness and high-grade nature at such an early stage shows the “significant potential” of the project to host a world-class, clay-hosted rare REE deposit.
Reconnaissance drilling has tested around 20 per cent of the project to date with results delivering a 90 per cent strike rate with nearly every hole containing significant widths of REEs.
“Clay-hosted REE deposits continue to be the preferred type of REE mineralisation to discover, being lower cost to mine and process and producing more of the sort after high-value Magnet REE such as neodymium, praseodymium, dysprosium and terbium, which are essential for making high strength permanent magnets critical to EV and wind turbine efficiency,” VMS Managing Director Andrew Radonjic said.
The company is now focused on the next stage of work, including metallurgical test work to find out how much of the clay-hosted mineralisation can be recovered using current processing techniques.
VMS shares were up 14.3 per cent, trading at 1.6 cents at market close.
