ASX-listed Venture Minerals has the drill rods spinning at its Kulin prospect, cutting some diamond core to follow up solid gold assays from trenches dug on its 100 per cent-owned ground, east of the massive 30Moz Boddington gold mine in WA’s South West region.
Venture said its best trench result at Kulin uncovered 41 metres at 0.8 grams per tonne gold, including 31m interval grading 1.0 g/t gold. A second trench unearthed 20m at 0.6 g/t gold, mostly within saprolitic granites.
Venture Minerals Managing Director, Andrew Radonjic said: “The Company is looking forward to generating drill results from Kulin in the coming weeks following the completion of its maiden diamond drilling program.”
“Venture will then immediately follow on with the continuation of drilling at its priority exploration Project at Golden Grove North, as it looks to target extensions to the recent drill intersections of up to 7% Zinc, 1.3% Copper and 2.1g/t Gold at Orcus and other newly identified, strong EM conductors situated along the VMS Target Zone.”
“This new phase of exploration in Western Australia is poised to generate significant news flow for shareholders over the coming months.”
Whilst the global markets continue to pump up Elon Musk’s US$24 billion net worth on the back of Tesla’s share price performance, a bevy of local gold hopefuls have remained un-distracted in their own quest for fiscal glory.
After surfing last year’s 1,900-point ASX-All Ordinaries wave, ASX-listed Venture Minerals’ share price was up another 11 per cent on Friday after announcing some solid gold hits in early exploration digging on its tenements in one of WA’s often overlooked gold province, “down south” in WA.
The local landmarks in the region of the Company’s Kulin prospect include the Great Eastern Highway which connects Perth with Kalgoorlie, the Towns of Corrigin and Bruce Rock, plus the salt pans of Lake Grace.
More importantly though, Venture Minerals’ Kulin prospect is well positioned on the map of the local area which includes some big gold mines including the revered Boddington at 30Moz of gold, Edna May at 2.2Moz, Katanning at 1.2Moz and Tampia at 0.7Moz of gold.
The closest gold mine to Venture’s Kulin prospect is the dormant Griffins Find operation, located some 50-odd kilometres to the southeast of Kulin. The historic Griffins Find gold deposit was first discovered in the 1950’s and around 55,000 ounces were extracted at a grade of 2.8 g/t during the 1980’s from two shallow pits about 55m and 20m deep.
Results from recent exploration drilling around Griffins Find included 20 metres at 2.86 g/t gold from 13 metres, including 5 metres at 4.02g/t gold and 7 metres at 4.24g/t gold.
Venture Minerals is an active mineral explorer and developer with good ground on both coasts of Australia, including a gaggle of projects dotting the landscape across the rich mineral endowments of Western Australia’s Pre-Cambrian cratons.
In the State’s Mid-West, Venture has its Golden Grove North project where it is targeting historical gold drill intercepts of 8m grading 2.1 g/t from a very shallow 8m and 6m grading 2.3 g/t gold from just 6m downhole. The gold numbers come from old drill holes at the company’s Orcus prospect’s VMS sulphide system which stretches for 5km along strike from the Golden Grove zinc-copper-gold mine.
Venture Minerals will certainly be onto something if its current diamond drill program at Kulin can uncover some solid, shallow gold intercepts with similar gold grades to its neighbours. With the drill rig switching camps to its Golden Grove North prospect, immediately after the Kulin campaign, there is likely to be news aplenty over coming weeks.
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