Source: Venture Minerals
The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Exploration company Venture Minerals (VMS) has used a trenching program to confirm multiple gold targets at its Kulin Project, located in WA
  • The material stock undertook the program over previous gold in soil anomalies and located best mineralised intervals of 31 meters at 1.0g/t gold
  • Following the results, Venture has begun its maiden diamond drilling program at Kulin to test the gold targets beneath the trenches
  • After drilling wraps up at Kulin, the company will head to its Golden Grove Zinc-Copper-Gold Mine to carry out drilling at Golden Grove North
  • Shares in Venture Minerals have jumped up 11.3 per cent to trade at 6.9 cents each

Venture Minerals (VMS) has begun drilling at the Kulin Project, after a trenching program successfully confirmed multiple gold targets.

The exploration business undertook the trenching program over previous gold in soil anomalies found at the WA-based asset, which is located near Newmont’s Boddington Gold Mine.

Pleasingly, the company said the program located a number of mineralised intervals — hitting 41 metres at 0.8 g/t gold, including 31 metres at 1.0g/t gold.

Along with confirming the anomalies, the company said the result also suggests there is significant potential for intersecting broad zones of gold mineralisation at depth.

To follow up on the discovery, Venture has begun a maiden diamond drilling program at Kulin covering 3000 metres.

Once the maiden drill program at Kulin has wrapped up, the company will head to the Golden Grove Zinc-Copper-Gold Mine, also located in WA.

Drilling will take place at Golden Grove North within the mine, targeting both extensions to the Orcus sulphide system and a number of newly identified, strong electromagnetic (EM) conductors.

“The company is looking forward to generating drill results from Kulin in
the coming weeks following the completion of its maiden diamond drilling program,” Managing Director Andrew Radonjic said.

“This new phase of exploration in Western Australia is poised to generate significant news flow for shareholders over the coming months,” he added.

Shares in Venture Minerals have been buoyed by Friday’s announcement, up 11.3 per cent at 6.9 cents each at 11:06 am AEDT.

VMS by the numbers
More From The Market Herald

Microcap Desert Metals makes bold move into West Africa

WA-based polymetals explorer Desert Metals (ASX:DM1) has announced it's setting up shop in West Africa.

Arafura Rare Earths secures indicative financing support for Nolans project

Arafura Rare Earths (ASX:ARU) has secured a non-binding LOI from Korea EXIMbank for up to US$150…

Barton Gold wraps up resource-boosting Tunkillia drill run

Barton Gold (ASX:BGD) shares were up almost five per cent to 26 cents in the second…

Strike Energy confirms continuity of South Erregulla gas field with successful SE3 appraisal

Strike Energy (ASX:STX) has released an update on appraisal results from its SE3 well, situated within…