- Venture Minerals (VMS) discovers rare earth element (REE) surface mineralisation at the Vulcan prospect within the Golden Grove North project in WA
- The company recently sampled and analysed historical data which uncovered “very high-grade” mineralisation including values of 12.5 per cent total rare earth oxide
- Venture says this “effectively doubles” its exposure to the rare earth space after its recent REE discovery at the Mount Lindsay tin-tungsten project in Tasmania
- The junior explorer plans to follow up on the REE mineralisation to define its nature and scale
- VMS shares are up 31.8 per cent to trade at 2.9 cents at 11:56 am AEDT
Venture Minerals (VMS) has discovered “very high-grade” rare earth element (REE) surface mineralisation at the Vulcan prospect within the Golden Grove North project in WA.
The company recently completed an analysis of historical sampling that focused on volcanic massive sulphide-style mineralisation but was also assayed for lanthanum and cerium — both of which are REEs.
New results include several values over one per cent total rare earth oxide (TREO), ranging up to 12.5 per cent TREO. Additional results include 5460 parts per million (ppm) praseodymium oxide and 14,575 ppm neodymium oxide.
Managing Director Andrew Radonjic said discovering high-grade REE mineralisation at Vulcan “effectively doubles” its exposure to the rare earth space after recently discovering rare earths at the Mount Lindsay tin-tungsten project in Tasmania.
“Clearly the company’s diverse portfolio of projects affords the unique opportunity for such discoveries, due to Venture’s strategic landholdings in areas with the potential to host multiple mineralised systems, consequently leading to a higher probability of exploration success,” Mr Radonjic said.
Venture Minerals plans to follow up on the REE discovery at the Vulcan prospect to define its nature and scale.
VMS shares were up 31.8 per cent to trade at 2.9 cents at 11:56 am AEDT.