Venture Minerals Limited (ASX: VMS) has identified a large conductor under High Grade Zinc-Copper-Gold drill intersections from the maiden drilling programme at the Orcus prospect at Golden Grove North in Western Australia.
The recently completed DHTEM survey has delineated the 500m long by 240m depth extent conductor under High Grade Zinc-Copper-Gold drill intersections with assays of up to 7.6% Zn, 1.3% Cu, 2.2 g/t Au & 22g/t Ag.
Managing Director, Andrew Radonjic, said the drill programme confirmed a VMS System with all three holes on the first drill line returning strong zones of VMS style mineralisation.
“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,” Mr Radonjic said.
“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.”
The DHTEM survey (on five drill holes) was done after the second phase of exploration drilling had been put on hold after six diamond core holes were completed earlier this year.
- ORRC001 – 5m @ 1.3% Zn, 0.54% Cu, 1.1 g/t Au & 7 g/t Ag from 59m, incl. 1m @ 6.1% Zn, 1.3% Cu, 0.80 g/t Au & 22 g/t Ag from 59m.
- ORRC002 – 2m @ 4.4% Zn, 0.87% Cu, 0.94 g/t Au & 17 g/t Ag from 100m, incl. 1m @ 7.6% Zn, 1.0% Cu, 0.17 g/t Au & 20 g/t Ag from 101m.
- ORRC003 – 2m @ 2.4% Zn, 0.34% Cu, 1.0 g/t Au & 4 g/t Ag from 152m, incl. 1m @ 4.2% Zn, 0.47% Cu, 1.6 g/t Au & 8 g/t Ag from 152m
The DHTEM survey of ORRC003, the deepest hole on the first line of reconnaissance style drilling at the Orcus prospect during the maiden drilling programme, has led to a reinterpretation of this section that further defined this distinct untested EM target (500 m long x 240 m depth extent) sitting at depth below ORRC003 and between the two diamond core holes recently drilled at Orcus (ORDD001 & ORDD002).
Plans going forward for the company at Golden Grove North include preparing to drill the EM conductor below ORRC003, further surface mapping and sampling along the Neptune VMS Target Zone to delineate drill targets and completion of a new airborne EM survey to west of Orcus to define potential new drill targets.
The Golden Grove Camp, 370 kilometres north-northeast of Perth, is the prime VMS occurrence in the Archean Yilgarn Craton of Western Australia with over twelve deposits discovered over 13 kilometres of strike.
The first significant deposit, Gossan Hill (15.9Mt @ 2.6% Cu, 1.5% Zn, 0.2% Pb, 21 g/t Ag & 0.6 g/t Au) was discovered in 1971, then in 1979 the second substantial find was identified at Scuddles (10.5Mt @ 1.2% Cu, 11.7% Zn, 0.8% Pb, 89 g/t Ag & 1.1 g/t Au.
At the end of 2002, Golden Grove had an endowment (resources and production) of 40.2Mt @ 1.8% Cu, 0.9% Pb, 7.6% Zn, 103 g/t Ag & 0.8 g/t Au.
For further information please visit: https://www.ventureminerals.com.au/