Venture adds new clay-hosted tenements in WA to its growing REE portfolio
Link copied to
Venture Minerals has picked up four new clay-hosted Rare Earth Element (REE) targets in WA as part of its strategy to expand exposure to the REE space.
The recent acquisitions include a 511km2 tenement package adjacent to the company’s Vulcan Prospect, host to recently announced very high grade REE results ranging up to 125,165 ppm (12.5%) TREO.
The new project known as ‘Brothers’ contains surface laterite samples grading up to 1,864 ppm combined REE (cerium, europium, lanthanum, samarium, thulium, yttrium and ytterbium) and is close to a historic drill hole that intersected 4m at 2,103 ppm TREO within clays.
Plus, Venture Minerals (ASX:VMS) has also acquired a 809km2 tenement package, known as the ‘Bandy’ Project, which hosts combined REE laterite results up to 2,704 ppm from the same State Government dataset.
Prior to the acquisition and identification of these new REE targets, Venture had already discovered the very high grade Vulcan REE target in WA, as well as REE targets at both Cruncher and Reward within the Mount Lindsay Project.
The company also identified coincident laterite REE (lanthanum and cerium) results and conductivity anomalies at its Kulin Project which are considered high priority clay hosted REE targets warranting follow up drill testing at the earliest opportunity.
“The addition of four new clay hosted REE targets in Western Australia demonstrates the company’s focused approach to building a portfolio of high quality REE projects,” MD Andrew Radonjic said.
“The discovery of new rare earth projects in Australia is critical, as we manage the threat of China limiting supply to the rest of the world.”
Planning is now well advanced for follow up drilling programs on both of the new REE targets and for the Vulcan prospect.
This article was developed in collaboration with Venture Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.