Updated: Apr 21
Venture Minerals Limited (ASX:VMS) and Chalice Mining Limited (ASX:CHN) update on their Thor Project Joint Venture
The EM program is part of the first stage of the JV earn-in where Chalice Mining Limited (ASX:CHN) can earn up to 70% by spending $3.7 million on exploration over 4 years.
Only around 1/3 of the total planned 42-line km MLEM program has been completed to date as wet weather has been causing delays.
Andrew Radonjic, Managing Director of Venture Minerals Limited (ASX:VMS) shares with Noel Ong, CEO of Samso what has been happening with the search for Julimar. They caught up over Rooster Talk Episode 43.
Let's see some rocks
Mr. Radonjic sheds some insight on the following:
Update on the Thor project
What the EM anomalies mean in terms of the prospectivity of the project
Why Kulin fits in well with the Thor project
Thor is not a nearology play but is made of real exploration results
The unique nature of the drill and geophysical results that were generated by Venture Minerals is strong evidence that fits the Julimar style mineralisation. The stage is set for the drill rigs of the project to see some rocks.
What is also exciting about the company's project is it is sitting on a new frontier that is ripe for new discoveries which have been previously neglected due to commodity pricing, funding and market appreciation of these areas.
Encouraged by early success
“Venture is extremely encouraged by the success of the early work done by our JV partners Chalice Mining on our South West Project,” said Andrew Radonjic, Managing Director of Venture Minerals Limited.
“The ground EM program, though only one third complete, has already yielded new EM anomalies with one sitting adjacent to a previously drilled hole containing significant disseminated sulphides with elevated PGE levels.
“The majority of the Thor ‘Julimar lookalike’ target that already hosts several airborne EM anomalies is yet to be tested by Chalice’s EM program and the company looks forward to results from this work and potential follow up drill testing in the near future.”
Download Venture Minerals latest ASX announcement here:
Tune in to Samso Rooster Talk Episode 43 with Andrew Radonjic and Noel Ong
00:43 Updating on Thor
04:42 The Thor project is not a Nearology play
08:03 What does the term Siemens mean?
12:23 Is the northern EM anomaly a surprise anomaly?
14:33 How much comfort does Venture get from the Regional Prospectivity of Thor and Kulin project
19:21 The relationship between Red Wine and Geological Interpretation
23:25 The theory of the Cooking Pot
26:43 Funding and Discoveries
28:25 News flow for Thor