Venture Minerals Limited (ASX:VMS, OTC:VTMLF) has acquired a key landholding adjacent to the Jupiter Rare Earths Discovery within the Brothers Project in the midwest region of Western Australia, securing the remaining priority clay hosted rare earth targets within the vicinity of Jupiter.
The tenure is located between the large-scale, clay-hosted Jupiter prospect and the company’s northern tenure, which already hosts significant rare earth mineralisation only 10 kilometres from the Jupiter discovery.
This key landholding is part of a 361-square-kilometre strategic tenement package acquisition that complements the existing tenure and expands the project area by 36% to 1,353 square kilometres.
The landholding connects Jupiter with mineralisation 10 kilometres to the north where drill intersections include up to 45 metres at 1,455 parts per million (ppm) total rare earths oxides (TREO) including 15 metres at 2,105 ppm TREO, while providing direct unencumbered access from Jupiter to a major bitumen road.
The Brothers REE Project with the Jupiter Target, in Western Australia, showing new additional tenement applications.
“This strategic acquisition strengthens the company’s land position around Jupiter and facilitates unencumbered access across the project. It provides a potential extension of high-grade, clayhosted rare earth mineralisation to the north of Jupiter and secures the remaining priority clay-hosted Rare Earth targets around the discovery.,” said Venture Minerals managing director Andrew Radonjic.
The Jupiter prospect
“Jupiter is emerging as a major, rare earths discovery that is ideally located between Lynas’s existing plant and Iluka’s planned rare earth processing facilities in the tier one jurisdiction of the Midwest region Western Australia,” Radonjic added.
The Jupiter prospect holds an Australian record clay hosted intersection of 48 metres at 3,025 ppm TREO.
Drilling here has delivered consistent high-grade zones (in excess of 2,000ppm TREO) over 20-30 metre widths. These high grade zones sit within broader zones of up to 72 metres, grading well over 1,000 ppm TREO. Very high-grade results include assays up to 13,906 ppm and 20,538 ppm TREO.
It also boasts a record intersection of 5,056 ppm neodymium-praseodymium (NdPr) oxides, with 3,824 ppm neodymium and 1,232 ppm praseodymium. Results also include high grades of other magnet rare earth oxides (MREO) and extremely low thorium and uranium.
Venture Minerals' Brothers Project combined tenure (granted and pending) on regional geology with total magnetic intensity image highlighting large interpreted alkaline intrusion and clay hosted REE mineralisation at the Jupiter target.