Venture Minerals (ASX:VMS) has acquired a key landholding encompassing a 361km-square area and sits adjacent to the Jupiter Rare Earths Discovery.
The $43 million market capitalisation company says the newly acquired area complements the existing tenure and expands the Jupiter project by 36% and secures the remaining priority clay-hosted rare earths targets within the immediate vicinity of the discovery.
The new tenure lies between the ‘large-scale’, clay-hosted Jupiter prospect and Venture’s northern tenure, which hosts ‘significant’ rare earth mineralisation 10km from Jupiter.
Managing Director Andrew Radonjic says: “This strategic acquisition strengthens the company’s land position around Jupiter and facilitates unencumbered access across the project.
It provides a potential extension of high-grade, clay-hosted rare earth mineralisation to the north of Jupiter and secures the remaining priority clay-hosted rare earth targets around the discovery.”
Historic drill intersections at the new tenement include up to 45m @ 1,455 parts per million total rare earth oxide (TREO), including 15m @ 2,105ppm TREO.
Venture Minerals is a critical mineral-focused explorer that is dedicated to discovery and developing ‘world-class’ mineral deposits.
As of 31 December 2023, the company had about $2.072 million cash and cash equivalents at hand, according to its latest half yearly accounts report.
Write to Aaliyah Rogan at Mining.com.au
Images: Venture Minerals
