Venture Minerals Limited (ASX: VMS) is preparing to commence drill testing a new Nickel Target defined by a three kilometre long EM conductor supported at the surface by nickel in soil anomalism and interrupted to be within the Wilson River Ultramafics in Tasmania.
Venture has 100% ownership of granted tenure encompassing 13 kilometres of this prospective ultramafic unit.
Venture’s new Nickel Target sits within the same ultramafic belt that hosts the Avebury Nickel Deposit (264,000 tonnes contained nickel in resources) only 25 kilometres to the south west. Mallee Resource just recently reopened the Avebury Mine and recommenced production.
Drilling of the new Nickel Target will commence next week, with shareholders to be updated on any findings including visual indications of nickel mineralisation from the drill core at the earliest opportunity.
Nickel is one of the elements that plays a critical enabling role in the energy transition required to reduce CO2 emissions through the deployment of the entire spectrum of clean energy technologies – geothermal, batteries for EVs and energy storage, hydrogen, hydro, wind and concentrating solar power.
The company is excited to be testing this new Nickel Target within our portfolio of tenements in North West Tasmania,” Managing Director, Andrew Radonjic, said.
“This large Nickel target is defined by a significant EM conductor and anomalous soils results and sits within the same ultramafic belt that hosts the nearby Avebury Nickel Mine, that has just recently recommenced production.
“Venture’s diverse portfolio of landholdings within world class mineral districts in Australia, continues to provide shareholders with opportunities for new and meaningful discoveries. The board looks forward to updating shareholders on the results as they come to hand from the drilling.”