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Venture Minerals Limited (ASX: VMS) – REE Drilling Ends In Mineralisation, Western Australia

18 May 2023 08:41

It is no surprise that Venture Minerals Limited (ASX:VMS) is now adding Rare Earths to the portfolio. The creation of a Decarbonisation Mineral Exploration Portfolio makes complete sense.

Get to know Venture Minerals Limited (ASX:VMS)

 

For those readers who have just come across Venture Minerals Limited, the best way to conceptualise the company is to see it as a Targeted Diversified Mineral Explorer with a very experienced Managing Director. Andrew Radonjic has the silver hair happening coupled with a very smart strategy.

I remind many readers that when I first interviewed Venture, I coined the term Targeted Diversified Mineral Explorer. There are many diversified companies but if you have been in this industry for a long time, you start to learn to identify those that are real and those that are there to fill up space.

In that first interview, I realised that the diversified portfolio in its own right has good projects. Over the years and having sat through many conversations, I believe the company is starting to create its own personality. The limiting factor is the fund allocation. In every business, there are always budgets, and Venture is no different.

The Building of a Western Australia REE project

 

In the last Coffee with Samso, Andrew Radonjic, Managing Director of Venture Minerals pointed out that the company has been looking at Rare Earth projects for a while now. The creation of a Western Australian based REE project does not surprise me at all (Figure 1).

The Building of a Western Australia REE project

In the last Coffee with Samso, Andrew Radonjic, Managing Director of Venture Minerals pointed out that the company has been looking at Rare Earth projects for a while now. The creation of a Western Australian based REE project does not surprise me at all (Figure 1).

Venture Minerals Limited (ASX: VMS) – The Age of Boron.

Venture Minerals Limited (ASX: VMS) – Building a Rare Earth Portfolio in Western Australia.

What makes this portfolio different is the location. The nearest focus on the REE news has been in the Wheatbelt which is still a distance away. I cannot think of anyone that is building a project near the Venture ground. The rising trend has been in the Wheatbelt region of Western Australia which is about 50km to 100km south of the current project.

Recap:

As we previously mentioned, the first mention was the discovery of REE within the Mount Lindsay project. This was first released on 20th September 2022. All the news releases are listed below.

Venture unearths REE mineralisation immediately adjacent to Tin Zones at Mount Lindsay

Venture discovers 12.5% REE mineralisation at Golden Grove North

Venture commences drilling at new, high priority REE-Tin target at Mount Lindsay

Venture expands REE strategy with new priority targets in Western Australia

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Figure 1: Location of the new REE project for Venture Minerals Limited. (Source: Venture Minerals Limited).

 

Samso’s Conclusion

 

It is no big secret that there is a REE bandwagon going around the Australian Stock Exchange (ASX) at the moment. I have just been at the RIU Conference in Sydney and had a chance to talk and look at some of these projects. The common theme is that the majority of projects have come about from resampling of previous holes. There has been little understanding of the quality of the projects other than the assays.

As I have mentioned many times, my go to person for REE information has been Brett Hazelden from OD6 Metals Limited (ASX: OD6). In his latest video, he talks about the refractory nature of some deposits. When the company completed their latest metallurgical work, it became apparent that there is a distinction between deposit types. The distinction is based on how easy it is to extract the REE.

In a simplistic explanation, the OD6 commentary is that the deposits which are highly weathered are easier to extract. In the video he talks about how the deposits further away from the granitic source are more weathered.

Hence, when I look at the Venture announcement, what strikes me immediately is that there are two deep holes which ended in mineralisation. Could these drill holes have gone deeper? The grades look interesting as it is nearly 50m. There are resources out there being funded with grades around less than the historical intercepts announced by Venture Minerals.

The next point that strikes my interest is that the project is located in traditionally deeply weathered terrains. Some of the terrains are weathered in excess of 80 to 100m. If that is so, would the mineralisation have gone that deep? Could the troughs that span a distance act as a trap for the REE?

These are hypothetical observations and I am highlighting it because this is where I feel the project may have some good differences to the other REE projects in the market. For this reason, I encourage readers to seek more information and if possible, speak to Andrew to get more information.

Tune in to Andrew’s thoughts here.

Chapters:

00:00 Start

00:20 Introduction

01:10 The VMS Rare Earth story.

04:25 The significance of the historical drill holes.

07:33 Venture Projects Potentially in New REE Province?

08:27 What makes the VMS REE story different?

14:41 Is VMS stretching resources to fund all the projects?

19:41 Thoughts on the geopolitical issue surrounding Rare Earths.

22:56 News flow

26:49 Conclusion

 

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