Venture confirms significant gold system at Kulin, drilling underway
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Special Report: Venture Minerals will kick off a maiden drilling campaign at its Kulin gold project, after trench results confirmed a significant gold system on site.
The trenching program was carried out by Venture Minerals (ASX:VMS) last year, and delivered substantial mineralised intervals of up to 31 metres at 1 gram per tonne gold from KUT02 and 20m at 0.6g/t gold from KUT04.
The results confirm that multiple gold targets have been identified at Kulin, which is located in the same emerging gold province as the +30 million-ounce Boddington deposit, the 2.2Moz Edna May deposit, the 1.2Moz Katanning deposit and the 700,000oz Tampia project.
Handy neighbours to have.
Boddington, owned by Newmont Goldcorp, is currently the second-largest producer of gold in the nation.
A maiden diamond drilling program is now underway at Kulin, testing multiple targets beneath the broad, mineralised trenches dug out last year.
Results are expected in the coming weeks, according to Venture managing director Andrew Radonjic.
“The company is looking forward to generating drill results from Kulin in the coming weeks following the completion of its maiden diamond drilling program,” he said.
“Venture will then immediately follow on with the continuation of drilling at its priority exploration project at Golden Grove North, as it looks to target extensions to the recent drill intersections of up to 7% zinc, 1.3% copper and 2.1g/t gold at Orcus and other newly identified, strong EM conductors situated along the VMS target zone.
“This new phase of exploration in Western Australia is poised to generate significant newsflow for shareholders in the coming months.”
The Golden Grove North project sits along strike to EMR Capital’s Golden Grove zinc-copper-gold mine.
Venture Minerals holds a number of projects across Australia, including the Riley iron ore project, which when last reported it expected to ship its first ore in the current quarter.
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.