ASX-listed Venture Minerals could be in for a memorable Christmas after a downhole transient electromagnetic survey at its Orcus prospect at the Golden Grove North project near Yalgoo in WA’s Mid West uncovered a mammoth 500 metre long by 240m deep conductor under high-grade zinc-copper-gold intersections. Assays revealed hits of up to 7.6 per cent zinc, 1.3 per cent copper, 2.2 grams per tonne gold and 22 g/t silver from the maiden Orcus drilling program.
Drilling confirmed a Volcanic Massive Sulfide, or VMS system with each of the three holes punched on the first drill line pulling in strong zones of VMS style mineralisation. The best results came courtesy of a 5m intersection going 1.3 per cent zinc with 0.54 per cent copper, 1.1 g/t gold and 7 g/t silver from 59m that included a 1m hit grading 6.1 per cent zinc, 1.3 per cent copper, 0.8 g/t gold and 22 g/t silver from the same depth.
The next best result was a 2m intersection at 4.4 per cent zinc, 0.87 per cent copper, 0.94 g/t gold and 17 g/t silver from 100m that included a 1m hit going 7.6 per cent zinc with 1 per cent copper, 0.17 g/t gold and 20 g/t silver from 101m.
Rounding out the trio of drill results was a 2m hit going 2.4 per cent zinc with 0.34 per cent copper, 1 g/t gold and 4 g/t silver from 152m that included a 1m intersection grading 4.2 per cent zinc with 0.47 per cent copper, 1.6 g/t gold and 8 g/t silver from the same depth.
The company says its recently completed five-piece downhole electromagnetic survey at Orcus came to fruition after its second phase of exploration drilling was shelved with just half a dozen diamond core holes sunk.
Venture’s Managing Director Andrew Radonjic said: “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.”
“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.”
Meanwhile, at the Neptune VMS target zone south of the Orcus prospect, Venture recently found three additional priority conductors through a ground-based moving loop electromagnetic survey.
The company says the ensemble of additional targets highlighted through the two electromagnetic surveys have underlined the exploration potential of the 5km-long VMS target zone at the Orcus and Neptune VMS target zone. Interestingly, both areas are geologically similar to the Scuddles-Gossan Hill area within 29Metals’ 1.44 million tonnes per annum, copper-zinc and precious metal Golden Grove mine.
Venture is now setting the table to drill the electromagnetic conductor at Golden Grove North, undertake additional mapping and sampling along the Neptune VMS target zone and run out a new airborne electromagnetic survey at Orcus to define prospective drill targets.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
