This acquisition not only expands its landholding but also includes two mafic-ultramafic intrusive complexes sitting along strike of the Jimperding Metamorphic belt, which hosts Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF)’s Julimar nickel-copper-PGE discovery.
The southern 20-kilometre-long nickel-copper-PGE target is defined by aeromagnetic anomalies and coincidental +500ppm chromium surface samples, combined with several reconnaissance surface samples assaying more than 30 ppb platinum (Pt) and palladium (Pd) (peak of 60 ppb Pt + Pd).
Venture managing director Andrew Radonjic said the company had made some excellent acquisitions around the Kulin Project, enabling it to control a highly sought after ground position.
Great confidence to make discoveries
He said: “When paired with our Chalice JV on the South West Project, Venture now has an enviable portfolio of nickel-copper-PGE assets.
“These complement Kulin’s gold potential, which has been highlighted by our latest drill results situated within what is considered to be an exciting emerging Western Australian gold province.
“This gives the company great confidence in making significant discoveries at Kulin in the near future.”
In the southern part of the new tenure that contains the priority nickel-copper-PGE target, Venture can earn up to 100% in E70/5084.
This contains shallow (<25 metres deep) drill intersections from a historic reconnaissance drilling program with assays up to 0.11 g/t platinum, 0.13 g/t palladium, 0.14% nickel & 0.02% cobalt.
Other key activities
Venture has also applied for another 121 square kilometres of exploration tenure at Kulin bringing the total project area to 606 square kilometres of highly prospective ground.
The company will now look to complete a detailed work program focused on the high priority, southern nickel-copper-PGE target which may lead to drill testing in the future.
This program will include surface sampling and an airborne electromagnetic (EM) survey targeting the entire 20-kilometre-long interpreted mafic-ultramafic intrusive complex.
Additionally, Venture has also recently completed a maiden drill program at Kulin that delivered strong results with mineralised intervals of up to 18 metres at 0.6 g/t gold in drill hole KLD001 from 329 metres.
This included higher grade zones of 9 metres at 1.2 g/t from 338 metres and 3 metres at 3.4 g/t from 341 metres.