Venture Minerals: How were these exceptional rare earths hits never followed up?
Venture Minerals Managing Director Andrew Radonjic on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Venture Minerals Managing Director Andrew Radonjic talk to Matt Birney on the Bulls N’ Bears Report about Venture’s brand new rare earths project that came gift-wrapped with two historic drill holes that are begging for follow-up – and they BOTH ended in mineralisation!
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Venture Minerals is targeting tin, tungsten and other critical minerals in Tasmania and WA. It is also in a joint venture with market darling Chalice Mining in search of nickel, copper and platinum group elements in WA’s South West. More recently however, Venture pivoted into rare earths, picking up multiple projects around Mt Magnet in WA, the latest of which, the Iron Duke project that Venture is farming into, boasts two fabulous looking historic rare earths drill holes.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by mineral explorer Venture Minerals.
Matt Birney - ASX code: VMS
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Venture Minerals, Andrew Radonjic.
Matt Birney - Hi Andrew
Andrew Radonjic - How are you Matt?
Matt Birney - Okay so Venture Minerals is targeting tin, tungsten and other critical minerals in Tasmania and in WA. It is also in a joint venture with market darling Chalice Mining in search of nickel, copper and platinum group elements in WA’s South West.
Matt Birney - More recently however, Venture pivoted into rare earths, picking up multiple projects around the Mt Magnet area in WA, the latest of which, the Iron Duke project that Venture is farming into, boasts two fabulous looking rare earths drill holes put down, I think, by a prospector back in 2020.
Matt Birney - Okay Andrew, where exactly is this Iron Duke project? Who owns it now and what's the deal you've done to farm into it?
Andrew Radonjic - Yes thanks Matt, Iron Duke is located about 40 kilometers east of our Golden
Andrew Radonjic - Grove North project and currently owned by a private company. It's unlisted which is looking to go to an IPO. We've got a first part of deal where you can spend 250k to get up to 51 per cent and then we've got opportunities to go further to 70 and then even 90 per cent.
Matt Birney - So this project boasts some exceptional looking historic I guess sort of historic, they're a few years old, rare earths drill holes. Hit me with the best one.
Andrew Radonjic - Well the best one is 49 meters at just over 1300 parts per million total rare earths. It's from 12 meters down to the end of hole so ending in mineralisation including 20 meters at 1700 PPM and another suite of zone of eight meters at just over 2000 PPM.
Matt Birney - Now I think all this project has right now is just two historic holes. Tell me the numbers from the second one.
Andrew Radonjic - Well the second one is a couple hundred meters away and that's again similar, 49 meters in mineralisation at just under a 1000 PPM total rare earths, again a suite of 20 meter zone halfway through intersection about 1100 PPM and a nice four meters at 1400 PPM total rare earths.
Matt Birney - So who put those two holes down and why were they never followed up?
Andrew Radonjic - Yeah it was just a private prospector. He got some EIS funding from the government and drilled two 61 meter holes. Clearly rare earths weren't as topical as they are today.
Matt Birney - Now you've got two other projects up there, Vulcan and Brothers, now I think Vulcan is the one you've got some pretty crazy high grades recently at, is that right?
Andrew Radonjic - Yeah that's correct last year we did some rock chipping around one of our VMS targets and we got believe it or not 12 and a half per cent total rare earth oxides in a rock chip and then we had several above one per cent including one at 6.6 per cent, one at 1.8 per cent, one at 1.7 per cent total rare earths.
Matt Birney - And your Brothers project just to the east of this new Iron Duke project, what's to like about that?
Andrew Radonjic - Oh look we went through a soil geochem database that CRC LEME had done with West Yilgarn and we picked the third highest in that data set by West Yilgarn so you know grade normally over 1800 PPM and that's only half of the rare earths assayed too.
Matt Birney - Andrew Radonjic from Venture Minerals
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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