Updated: Apr 21, 2022
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
About Andrew Radonjic
Venture Minerals Limited
Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAus/MM
Mr. Radonjic is a geologist and mineral economist with over 30 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling in excess of 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-lead during the discovery of the Mount Lindsay Tin-Tungsten deposit. Andrew is also a non-executive director with Blackstone Minerals.
About Venture Minerals Limited
Venture Minerals Ltd (ASX: VMS) is entering an exciting phase as it looks to move from explorer to producer with production at the Riley Iron Ore Mine in northwest Tasmania. At the neighbouring Mount Lindsay Tin-Tungsten Project, higher Tin prices and the recognition of Tin as a fundamental metal to the battery revolution has refocused Venture’s approach to developing Mount Lindsay. Already one of the world's largest undeveloped Tin-Tungsten deposits, the Company has commissioned an Underground Scoping Study on Mount Lindsay that will leverage off the previously completed feasibility work.
In Western Australia, Chalice Mining (ASX: CHN) recently committed to spending up to $3.7m in Venture’s South West Project, to advance previous exploration completed by Venture to test a Julimar lookalike Nickel-Copper-PGE target.
At the Company’s Golden Grove North Project, it has already intersected up to 7% Zinc, 1.3% Copper and 2.1g/t Gold at Orcus and has identified several strong EM conductors currently being drill tested which are situated along the 5km long VMS (Volcanogenic Massive Sulfide) Target Zone, along strike to the world class Golden Grove Zinc-Copper-Gold Mine. Venture has recently completed a maiden drill program designed to bring forward a potential new gold discovery at the Kulin Project.
Venture Minerals Limited
Suite 3, Level 3
24 Outram Street, West Perth
Western Australia 6005
P.O. Box 1175,
West Perth, WA 6872
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VMS (Volcanogenic Massive Sulfide) Deposits Explained
In simple terms, Volcanic-associated Massive Sulphide (VMS) deposits are caused by underground metal-rich volcanoes rising and creating a cooking environment.
We suggest you download this eBook which explains the VMS and How to Add Value to your Share Portfolio
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About the Author
Noel Ong, CEO of Samso tells compelling stories by engaging business leaders to reveal insights beneficial to the investment community.
Samso helps executives tell their stories to pique investor interest.
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