Venture snaps up key landholding near Jupiter

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
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.