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Critica Limited ASX:CRI

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Venture Minerals (ASX:VMS) says aircore drilling results from the Jupiter rare earth discovery in Western Australia, have exceeded the company’s expectations.

The Jupiter discovery sits within the 992km2 Brothers REE Project, located southeast of Mount Magnet.

Assay results received to date have confirmed a broad clay zone, up to 80m thick, over the entire alkaline intrusive that defines the Jupiter target.

Venture Minerals, which has a market capitalisation of $56.66 million, says drillhole BRAC234 returned 58m @ 2,723 parts per million total rare earth oxide (TREO).

Managing Director Philippa Leggat says: “When you see infill drilling delivering a sea of magenta that represents the highest grade, like we see in the southern area of Jupiter, you know you’re onto a very robustly mineralised system. “We are excited to receive the final assay results and move forward with our metallurgy and then maiden resource estimate.”

The company has completed 258 drillholes, representing 22,000m of drilling at Jupiter. Assays from a further 42 drillholes are still pending.

Venture Minerals is an Australian rare earths and critical minerals explorer. The company’s assets include the Jupiter, Brothers, Golden Grove North, South West Chalice, and Kulin projects in Western Australia.

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Venture Minerals hits ‘best intersection to date’ at Jupiter