Venture (ASX:VMS) unearth 40sqkm REE target at Brothers
November 9, 2023Venture Minerals has identified a coincident gravity and magnetic anomaly host to extensive rare earth enriched clays over 40 square kilometres, presenting a massive new target to add to its Brothers Rare Earth Project in Western Australia.
Reconnaissance drilling over the newly discovered Jupiter Prospect has shown a heavy correlation with the gravity and magnetic highs and broad, near-surface, high-grade results, and Venture believe it has the capacity to swiftly deliver a substantial resource.
“The recent exploration work at Jupiter suggests that Venture has the makings of an exceptional Rare Earths project, capable of delivering a large scale, high grade, clay hosted rare earth resource in a short period of time,” Venture Managing Director Andrew Radonjic said.
“Being located in Western Australia with excellent access to infrastructure as well as existing and planned rare earth processing facilities are additional benefits.”
Rare earth region
With two of Australia’s major miners and the Australian Government invested in the region, it offers an attractive site for a rare earth discovery.
Brothers is 520 kilometres away from Lynas Rare Earths operating concentrator at Mt Weld and 250 away from Iluka’s Eneabba Rare Earths Refinery set for 2025 production and backed by a risk sharing agreement with the Australian Government looking to increase the national capacity for production.
Next steps
The drill holes were shallow and ended in mineralisation, and more one metre assays are due soon as Venture plan to shortly begin the follow up on Jupiter, consisting of a short RC campaign to collect material for test work and examine an underlying intrusion.
And that will be followed by an extensive shallow drill campaign directed at delivering a clay-hosted resource within just a few short months.
The 40sqm Jupiter prospect and high-grade intersections
Brothers project location map
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