Intersects Cu and Zn In First Orc Hole
Venture Minerals Limited’s (ASX: VMS) first drill hole at the Orcus target has intersected 33m of disseminated to semi-massive sulphides with Copper and Zinc at the Golden Grove North Project in Western Australia.
The sulphide intersection sits predominately within a chlorite-sericite altered sequence of foliated mafic volcanics which is a potential host for VMS style mineralisation.
Managing Director Andrew Radonjic said the company has completed a visual inspection and preliminary hand-held XRF analyses on the RC chips and has verified the presence of copper and zinc (chalcopyrite and sphalerite) within the pyrite dominated sulphides.
“The first drill hole at Orcus has had immediate success with a strong intersection of sulphides containing Copper and Zinc,” Mr Radonjic said.
“Venture eagerly awaits the assays to confirm the highly likely addition of both gold and potential silver mineralisation as it moves onto the next drill holes at Orcus, the company’s highest priority VMS target at Golden Grove North.”
Previous and current EM surveys and surface soil sampling have identified an area south of initial hole ORRC001 with a stronger geophysical and geochemical response that will be drill tested immediately following the completion of the first line of RC holes at Orcus.
The Orcus prospect already boasts a VMS style drill intersection of 22m @ 0.76 g/t Gold, 0.64% Copper & 1.3% Zinc from 38m to bottom of hole, including 10m @ 1.0g/t Gold, 0.74% Copper & 2.1% Zinc from 50m to bottom of hole, that sits on trend between the two recently delineated high priority VMS drill targets of Vulcan North and Vulcan West.
The ground EM crew continues to work on site to cover the area with Moving Loop EM (MLEM) from Vulcan North through to Vulcan West including the Orcus Prospect. A second new MLEM target has been found to the north of ORRC001 at the Orcus Prospect.
Mr Radonjic said this affords Venture the opportunity to drill this new target after the EM survey is completed whilst the RC rig is still on site during the Company’s maiden drill program at Golden Grove North.