Venture has secured the Iron Duke, Bandy & Brothers (Greater Brothers Project) new priority Rare Earth Element (REE) targets as part of its strategy to expand exposure to the REE space with a focus on clay hosted mineralisation type.
The tenement package is ~1,500km2 with only 20% of the project area drill tested, with almost every hole of the recently completed drill program containing significant widths of REE mineralisation.
The thickness and high-grade nature of the above results clearly demonstrates, at this early stage, the significant potential for the project to host a world class, clay hosted REE deposit.
The projects are well located in regional Western Australia away from significant population centres but close to infrastructure with a nearby bitumen highway and gas pipeline on route to a major port.
A maiden REE drilling program was completed in late May/early June and included 40 holes for 2,397m at Brothers (including Iron Duke), and 17 holes for 456m at Bandy and confirmed high grade clay hosted REE mineralisation with several intersections of up 15m at +2,000 ppm TREO within broader zones of up to 45m at ~1,500ppm TREO throughout an extensive area.
The Greater Brothers clay hosted TREO drill results include:
· BRAC009 45m @ 1,455 ppm TREO from 70 m to end of hole, including
15 m @ 2,105 ppm TREO from 80 m.
· BRAC024 19m @ 1,931 ppm TREO from 55 m to end of hole, including
5m @ 3,380 ppm TREO from 60 m.
· BRAC036 30m @ 1,982 ppm TREO from 35 m to end of hole, including
15m @ 2,672 ppm TREO from 40 m.
· BRAC037 40m @ 1,832 ppm TREO from 25 m to end of hole, including
10m @ 2,725 ppm TREO from 30 m.
· BRAC039 42m @ 1,619 ppm TREO from 5 m to end of hole, including
10m @ 2,595 ppm TREO from 30 m.
*Note: All assay results are of sample composites of up to a maximum of 5 metres
The quality of the assay results from this reconnaissance AC drill program has made a follow-up drilling program a priority with approvals and planning underway.