Venture Minerals Limited (ASX:VMS, OTC:VTMLF) has unveiled results described as "phenomenal" from its inaugural reverse circulation (RC) drilling program at the Jupiter Rare Earth Elements (REE) Target (NYSE:TGT), part of the Brothers Project, including more than 7,000 parts per million (ppm) total rare earth oxides (TREO).
The company says the program's findings have surpassed initial expectations, particularly in terms of TREO concentrations.
REE in all holes
The drilling program was extensive, covering a 40 square kilometre area. It successfully identified clay-hosted REE mineralisation in all of its 25 drilled holes, affirming the target's potential for significant grade and scale.
The program revealed consistent widths of 20-30 metres with REE mineralisation grading greater than 2,000 ppm TREO.
This mineralisation was found within broader zones measuring up to 64 metres and grading more than 1,000 ppm TREO, underscoring the project's robust potential.
Particularly encouraging was the high magnet rare earth oxides (MREO) content, averaging 23% over intersections with more than 1,000 ppm TREO.
This is a critical factor, given the high demand for these materials in various technological applications.
Environmentally sound
Also on the upside, the assays showed extremely low levels of thorium and uranium, making the mineralisation more environmentally and commercially attractive.
Venture Minerals has now kicked off a resource definition drill program at the Jupiter target. This ambitious program involves some 5,000 metres of drilling and is expected to be completed within a two-to-three-week timeframe.
Venture managing director Andrew Radonjic said: “RC drilling at our priority, large-scale Jupiter rare earths target has delivered even better grades and widths of clay-hosted mineralisation than our reconnaissance aircore program.
“These phenomenal results enhance Venture’s belief that the Jupiter target has the potential to become an exceptional rare earths project.
“The scale and quality of this opportunity along with its proximity to infrastructure and processing plants makes it a standout among its peers.
“There is road, power and port infrastructure adjacent to the project. It is situated between Lynas’ existing plant and Iluka’s planned rare earth processing facilities.”
“Jupiter’s immediate value proposition to shareholders lies in quickly delivering a cost-effective maiden resource of high-grade, critical REE minerals that are in demand in a strategically secure location like Western Australia.”
Looking ahead, Venture Minerals plans to continue its exploration efforts at the Jupiter target.
The company's roadmap includes slimline RC drilling for precise resource definition, comprehensive mineralogical and metallurgical test work, and further exploration of the large alkaline intrusion beneath the clay-hosted REE mineralisation.
This exploration aims to uncover high-grade primary REE mineralisation, moving the project closer to delivering a maiden clay-hosted REE resource in the coming months.