Venture Minerals Limited (ASX:VMS, OTC:VTMLF) has increased its understanding of mineralisation beneath its Golden Grove North Zinc-Copper-Gold Project in Western Australia through a downhole transient electromagnetic (DHTEM) survey.
The survey identified multiple conductors beneath Venture’s prospects, including a potential 5-kilometre-long volcanic massive sulphide (VMS) target zone beneath the Orcus and Neptune VMS zones.
Venture is a precious, base and bulk metal explorer and producer, confident of success through an aggressive and systematic exploration of its suite of assets in Western Australia and Tasmania and particularly at the Golden Grove North Project where drilling has confirmed a large VMS body.
Multiple exploration opportunities
“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,” Venture Minerals 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.
“Meanwhile the Neptune VMS Target Zone, though still in the early stages of exploration, is suitably located immediately along strike from the Golden Grove Mine.”
Orcus
A large (500 metres long by 240 metres in depth) conductor has been identified under high-grade zinc-copper-gold drill intersections from the maiden drilling program at Orcus prospect. A DHTEM survey was completed after the second phase of exploration drilling had been put on hold, following six diamond core holes completed earlier this year.
Assays from three holes at Orcus returned assays including:
- ORRC001 – 5 metres at 1.3% zinc, 0.54% copper, 1.1 g/t gold and 7 g/t silver from 59 metres, including 1-metre at 6.1% zinc, 1.3% copper, 0.80 g/t gold and 22 g/t silver from 59 metres;
- ORRC002 – 2 metres at 4.4% zinc, 0.87% copper, 0.94 g/t gold and 17 g/t silver from 100 metres, including 1-metre at 7.6% zinc, 1.0% copper, 0.17 g/t gold and 20 g/t silver from 101 metres; and
- ORRC003 – 2 metres at 2.4% zinc, 0.34% copper, 1.0 g/t gold and 4 g/t silver from 152 metres, including 1-metre at 4.2% zinc, 0.47% copper, 1.6 g/t gold and 8 g/t silver from 152 metres.
The DHTEM survey of ORRC003, the deepest hole on the first line of reconnaissance style drilling at the Orcus prospect during the maiden drilling program, resulted in the further delineation of this distinct untested EM target sitting at depth.
Neptune
A Moving Loop Electromagnetic (MLEM) survey completed in April 2020 at Neptune also identified three additional priority conducts within the Neptune VMS target zone.
Recent additional targets generated by the two EM surveys have highlighted the exploration potential of the 5-kilometre-long VMS Target Zone between the Orcus and Neptune VMS target zones.
Both zones are geologically analogous to the Scuddles-Gossan Hill area within the world-class Golden Grove Mine, now owned by 29Metals Ltd.
Plans going forward for Venture at Golden Grove North include preparing to drill the EM conductor below ORRC003, further surface mapping and sampling along the Neptune VMS Target Zone to delineate drill targets and completion of a new airborne EM survey to west of Orcus to define potential new drill targets.
Golden Grove North Project highlights
- 288 kilometres squared, located less than 10 kilometres from the Golden Grove Mine;
- 25 strike kilometres of a largely untested, prospective geological sequence for VMS style mineralisation with early exploration success yielding the Vulcan and Neptune VMS targets;
- EM surveys at Vulcan have discovered four high priority VMS drill targets at and around the Copper-Gold Prospect along strike to the Golden Grove Zinc-Copper-Gold Mine;
- Historic shallow gold drill intersections including 10 metres at 1.4 g/t gold from 16 metres, 8 metres at 2.1 g/t gold from 6 metres, 6 metres at 2.3 g/t gold from 6 metres and 3 metres at 3.6 g/t gold from 95 metres
- Historic surface rock chip sampling has returned assays including 9.4 g/t gold, 7.4 g/t gold & 6.6% copper, 6.2 g/t gold, 5.7 g/t gold, 4.0 g/t gold, 3.8 g/t gold & 3.1% lead, 7.6% copper & 0.1% zinc, 8.0% copper, 2.0% copper, 1.8% copper & 3 g/t silver.