The Latest Breakthrough in Rare Earth Exploration: Venture Minerals Unveils Record-Setting Drill Results at Jupiter Project
Exciting news has emerged from the board of Venture Minerals (ASX: VMS) as they announce the groundbreaking assay results from recent drilling activities at the Jupiter Rare Earths Project, in which the company holds a controlling 70% stake.
Key Findings
The most recent drill results have unveiled the highest Rare Earth Element (REE) intersection ever recorded, with an impressive 80 meters at 1,839 parts per million Total Rare Earth Oxides (TREO) identified from just 8 meters below the surface. This breakthrough marks a significant milestone in the exploration journey at Jupiter.
- Consistent high-grade zones have been identified, boasting +2,000 ppm TREO across widths of 20-30 meters.
- Within broader zones, high-grade areas of up to 80 meters, grading well over 1,000 ppm TREO, have been discovered.
- Magnet Rare Earth Oxides (MREO) have shown a consistent average of 23% in samples exceeding +1,000 ppm TREO.
- Thorium and Uranium levels remain consistently low, further enhancing the project’s appeal.
- The results effectively validate the geophysical data covering the extensive 40 km2 target area.
- Among the latest drill results are 6 of the top 13 intersections received thus far, highlighting the project’s ongoing success.
- The current drill program has achieved a spacing of 500m x 250m across the expansive 40 km2 target area.
- These assay results represent the initial findings from 59 drill holes conducted as part of the recently completed 246-hole Aircore program, with results from 187 holes still pending.
Philippa Leggat, Managing Director of Venture Minerals, expressed:
“The remarkable intersections at Jupiter continue to exceed expectations! With each new batch of drill results, we witness record-setting occurrences of clay-hosted REEs. The consistency and breadth of high-grade mineralization across different drill holes is truly remarkable and underscores the substantial nature of this project.”
She further added, “Our team, led by the accomplished geologist Dr. Stuart Owen and renowned geo-metallurgist Dr. Natalee Bonnici, ensures that our exploration efforts are meticulously carried out to yield representative samples for metallurgical analysis. We are committed to conducting our operations meticulously and responsibly to maximize the potential of this exceptional discovery.”
Leggat also highlighted the strategic significance of Jupiter, its exceptional scale, high-grade mineralization, and prime location, factors that attracted industry stalwarts Nick Cernotta and Tim Lindley to join the Board. This strategic vision sets the stage for Venture Minerals to position itself as a premier player in the rare earths and critical minerals sector in Australia, driving substantial value for its shareholders.
To access the complete ASX Release detailing the latest drill results, click here.
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