Venture Minerals Limited (ASX:VMS, OTC:VTMLF) has received the third and final batch of assay results from stage one resource definition drilling at the large-scale, clay-hosted Jupiter Rare Earths Prospect at the Brothers Project in the Mid-West region of Western Australia.
The latest drill results include some of the best intersections recorded to date including up to 60 metres at more than 2,000 ppm total rare earth oxides (TREO).
These assay results — the third batch of assays from drilling completed late last year — include the second, third and fourth-best drill intersections at Jupiter to date.
The results continue to deliver consistent high-grade zones (+2,000ppm TREO) over 20-30 metre widths, within broader zones up to 79 metres grading well above 1,000 ppm TREO with thorium and uranium levels remaining consistently extremely low. This included very high-grade results, including assays up to 26,958 ppm TREO.
These results continue to validate geophysics over the entire Jupiter target.
Assay results for 71 of the 78 (91%) drill holes received so far from the stage one resource definition drill program have returned >1,000 ppm TREO and are very similar to results announced in the previous drill program of 25 RC drill holes at Jupiter.
Venture Minerals managing director Andrew Radonjic said, “Jupiter has continued to generate more outstanding clay-hosted REE intersections including the second, third and fourth highest drill intersections at the project to date.”
Jupiter drill intersection highlights.
Stage two resource definition drilling
Venture also confirmed that the stage two resource definition drilling program, which includes around 250 drill holes, has been completed well ahead of schedule.
The stage two program comprised 246 aircore holes for 14,370 metres and brings the drill density across the 40-square-kilometre Jupiter target to a 500-metre by 250-metre spacing that will provide the necessary data for a maiden resource estimate at Jupiter.
“With the final batch of assay results in from the stage one program, the company now looks forward to receiving the first batch of assay results from the recently completed stage two program in the next 2 to 3 weeks,” said Radonjic.
“The drilling contractor and the Venture exploration team have done an excellent job in completing the stage two drill program well ahead of schedule and under budget, which affords Venture the opportunity to deliver a consistent stream of news flow over the next 2-3 months.”
Venture said assay results from stage two drilling and mineralogical and metallurgical testwork will determine the extent of the next phase of drilling at Jupiter and across the wider Brothers Project with either or both slimline RC drilling and aircore drilling depending on drilling conditions and rig availability.
Read more on Proactive Investors AU
