Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Venture Minerals raises $2.5 million for Western Australian projects

The company recently intersected nickel-copper sulphides at the Odin prospect.
australian dollars
Trading halt has been lifted

Venture Minerals Limited (ASX:VMS) has received commitments from new and existing Australian and international investors to raise $2.5 million via the issue of shares at 3 cents each.

The company will use the funds for exploration programs at its Western Australian projects including the Thor copper-lead-zinc prospect, the Odin nickel prospect and the Pingaring nickel-cobalt project.

The Thor prospect is 240 kilometres south of Perth, hosted within the Balingup Gneiss Complex.

The prospect hosts a strong and coherent laterite anomaly with elevated levels of copper, zinc and lead elements that are typically elevated in VMS (volcanogenic massive sulphide) systems.

Broad zone of nickel sulphides discovered

Venture recently intersected disseminated nickel-copper sulphides within a mafic-ultramafic host unit at the Odin prospect in Western Australia.

The nickel-copper target was identified following the company’s maiden drill program designed to test the Odin lithium target.

Venture managing director Andrew Radonjic said: “The company is excited by the new opportunity identified at the Odin Prospect.

“Although the pegmatites intersected in the first hole were not lithium bearing, the discovery of a broad zone of nickel bearing sulphides within the lithium target zone has delivered Venture an excellent new opportunity”

View full VMS profile View Profile

Venture Minerals Ltd Timeline

Related Articles

copper tubes
May 30 2018
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices
copper wires
October 12 2018
Leigh Creek will add to the cash being generated by New Mexico-based iron ore business Cobre to fund exploration and development opportunities elsewhere.
March 12 2018
Getting financing will be a "significant" milestone toward the construction, said the group

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use