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Colin Hay

Venture Minerals (ASX: VMS) has obtained impressive aircore drilling results from the company’s large-scale, high-grade, Jupiter rare earth discovery in WA.

The latest results have eclipsed all expectations, with the whole southern zone of the 40 km2 target delivering consistent broad and high-grade REE mineralisation.

“The most telling way to assess exploration success is to compare the before and after results. 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,” Managing Director Director, Philippa Leggat, said.

“And, after over 200 drill holes we are still breaking records, with amazing intersections of up to 58m @ 2,723ppm TREO in this latest batch of assays. We are excited to receive the final assay results and move forward with our metallurgy and then maiden resource estimate”.

Venture has now completed 258 drill holes for 22,000 metres of drilling into the Jupiter Prospect. Assay results received to date have confirmed a broad clay zone, up to 80 metres thick, occurs over the entire Alkaline Intrusive that defines the Jupiter target. Typically clay zones contain broad, high grade, clay hosted REE mineralisation that demonstrates excellent consistency in both grade and width between drill holes.

Jupiter is well located in regional Western Australia, away from any significant population centres and close to infrastructure. The new discovery is less than 10km from the bitumen highway that runs between Mount Magnet and Geraldton, providing easy access to the labour centres, the Port of Geraldton and Mid-West gas pipeline that runs parallel to the bitumen highway.

The terrain at Jupiter is sparsely vegetated and facilitates year-round access. The licences are situated on pastoral leases which are minimally stocked. Standard heritage assessments will be undertaken.

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