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Venture Minerals (ASX:VMS) - Managing Director, Andrew Radonjic
Managing Director, Andrew Radonjic
Source: The Market Herald
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  • Venture Minerals (VMS) identifies a large conductor at the Orcus prospect within the Golden Grove North (GGN) Project in Western Australia
  • The conductor was identified via a downhole transient electromagnetic survey and measures 500 metres in length and 240 metres in depth
  • Overall, grades peaked at 7.6 per cent zinc, 1.3 per cent copper, 1.6 grams per tonne (g/t) of gold and 22 g/t silver
  • Furthermore, a recently completed ground-based moving loop electromagnetic survey undertaken at the Neptune Volcanic Massive Sulphide identified three priority targets
  • Shares in Venture Minerals were up 4.55 per cent to 4.6 cents at 11:24 am AEDT

Venture Minerals (VMS) has identified a large conductor at the Orcus prospect within the Golden Grove North (GGN) Project in Western Australia.

Golden Grove North lies roughly 370 kilometres north-northeast of Perth and consists of over 12 deposits spanning a strike length of more than 13 kilometres.

The conductor was identified via a downhole transient electromagnetic (DHTEM) survey and measures 500 metres in length and 240 metres in depth.

It was undertaken on five holes and was completed after the second phase of exploration drilling was put on hold.

Overall, grades peaked at 7.6 per cent zinc, 1.3 per cent copper, 1.6 grams per tonne (g/t) of gold and 22 g/t silver.

Furthermore, a recently completed ground-based moving loop electromagnetic (MLEM) survey undertaken within the Neptune Volcanic Massive Sulphide (VMS) Target Zone identified three additional priority targets.

All targets generated from both surveys have highlighted the exploration potential of the Orcus Prospect and Neptune Target Zone.

“Further EM work has continued to highlight the exciting exploration potential of Venture’s Golden Grove North Project which is well positioned being along strike to 29M’s world class Golden Grove Zinc-Copper-Gold Mine,” Managing Director Andrew Radonjic said.

“A large conductor under high grade zinc-copper-gold drill intersections at Orcus remains untested and presents an exciting VMS discovery opportunity to be drill tested in the near future.”

Shares in Venture Minerals were up 4.55 per cent to 4.6 cents at 11:24 am AEDT.

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