Coffee with Samso 195 is all about the accessibility of the Jupiter Rare Earth project. This episode comes from the site of the project and lets audiences see why Jupiter is all about Location, Location, Location.
Venture Minerals Limited (ASX: VMS) is now finalising a drilling program to infill the Jupiter project as they work to build a maiden JORC resource for the project. It is also now bringing management to site to see for themselves the ease of having a potential mining proposition.
Managing Director, Andrew Radonjic and the Chair, Mel Ashton are sharing with us their thoughts on this episode of Coffee with Samso. There are no revelations but a reinforcement to investors and shareholders that the potential for a mining operation will come with Tier 1 infrastructure and potential partners or off-takers.
Remembering the Reasons to Focus on the Jupiter REE project
The fanfare on the Jupiter Rare Earth project is all about the ASX release by Venture Minerals on the 29th November 2023 (Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program) and the second round of results that was released on the 8th March 2024 (Jupiter Drilling Continues to Deliver Broad High-Grade REE Mineralisation including a Record NdPr Intersection of over 5,000 ppm). The project is shaping up to be something different to the family of clay Rare Earth stories in Australia.
Venture has been able to show up with good width of mineralisation, grades that are above the norm and its location for the mining process may well be a determining advantage.
The share price has been very buoyant and when taken into context of the Rare Earth sector in general, Venture Minerals is doing very well. There is a keen interest in the market to see where this story will end up. This episode continues to share more insights into the project and why the management of Venture Minerals all all looking forward to move this project forward.
Check out the conversation with Andrew Radonjic below:
Samso's Conclusion
In the lead-up to the trip to the project, Andrew Radonjic had been taking a position that the location of the project could be a game changer and I have to say that it does make sense. The highway is within 20km from the edge of the Jupiter Rare Earths Deposit, and there is a gas pipeline that is within the boundaries of the project.
You will hear Andrew reiterating these points and as they approach the narrative of taking the project to the next step of potential mining, this will make an interesting story to follow.
Chapters:
00:00 Start
00:55 Introduction to Mel Ashton
00:53 Updates on Jupiter
04:34 The Potential Size of the Jupiter Resource
08:55 Potential Strategy for Jupiter Project
11:52 Could there be other High-Grade "Cores"?
17:54 Discussion on Metallurgy
20:52 Location, Location Location
23:56 How can Venture take advantage of the REE Market?
25:57 What would the Exit look like for potential investors?
26:58 View on the Rare Earth Market over the next 12 months
34:41 News Flow
38:00 Tin
39:11 Conclusion
PODCAST
About Andrew Radonjic
Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM
Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling over 3 million ounces in resources and resulting in 1.5 million ounces being produced.
Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals.
About Venture Minerals Limited
Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator.
The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable.
In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) (name changed to Premier1 Lithium ASX: PLC) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets.
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Disclaimer
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
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