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Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: the next Mt. Weld?

Coffee with Samso 194 is all about the Jupiter Rare Earth project and what a way for Andrew Radonjic to start 2024.


Venture Minerals Limited (ASX: VMS) has an extremely well-rounded portfolio of projects and the inception of the Rare Earth project a couple of years ago has worked really well for the company. The Rare Earth sector may have come and gone for the ASX, but it has been a breath of fresh air to see the technical success of the Jupiter REE project.


Anyone who has been following the ASX REE sector recently will know very well the bearish tone, but those who have been on the Venture Minerals wagon will think differently. You could put Venture Minerals on the top of the list for generating the most interest in the small-cap mineral explorers list.


The interest in Venture started with the ASX release on 29th November 2023 (Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program) and the much anticipated second round of results was released on 8th March 2024 (Jupiter Drilling Continues to Deliver Broad High-Grade REE Mineralisation including a Record NdPr Intersection of over 5,000 ppm) which generated another rush on the share price.


Figure 1:  The Venture Minerals Limited (ASX: VMS) share price.  (Source: Commsec) | Coffee with Samso | Samso
Figure 1: The Venture Minerals Limited (ASX: VMS) share price. (Source: Commsec)

In this episode, Andrew Radonjic gives us an update on the Jupiter Rare Earth project and we discuss why he feels the project stands out from the crowd.


Check out the conversation with Andrew Radonjic below:


Samso's Conclusion

The Samso platform has had the majority of the clay rare earth story on the ASX for the last couple of years. It has been a great journey from the beginning to now, where I could effectively call a mature understanding of the industry. If we are all on the same page, the understanding now is all about the metallurgical results, and the chemistry of extraction.


In some way, we all know that the range of results from all the other clay REE players have been pretty consistent. There have not been too many outliers on the good or the bad end of the spectrum. If we consider this thought, the metallurgical results for Jupiter will be within range and there are some similarities to Mt. Weld, then Venture may have found themselves a project that could be more than interesting.


As Andrew pointed out in the end, it is all about the location. The drilling results are on the top end of the scale, the location is in proximity to Mt. Weld and the plant by Iluka, the metallurgical results which are still outstanding will most likely come within range or better, and there are no logistical nor administrative obstacles in sight. With all that in mind, the Jupiter project must surely become a jewel in the DYOR category for ASX investors wanting an REE play in their portfolio.

I encourage you to watch and take notes because as I have always mentioned on the Samso platform, the one economical project in many non-economical projects that are in the market comes once in a while, and if you can take the risk, do big-time DYOR now.


Chapters:


00:00 Start

00:20 Introduction

00:53 Updates on Jupiter

02:46 Discussion about the next drilling phase

04:04 What makes Jupiter stand out?

09:25 VMS in the current market

15:44 About the metallurgy

21:06 What could lift the REE market?

23:53 For investors looking to position themselves in VMS

29:01 Other VMS projects

32:45 News flow

35:59 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 Limited | Samso




Venture Minerals Ltd (ASX: VMS) is dedicated to discovering and developing world-class mineral deposits to meet the global demand for critical minerals vital to the green energy transition.


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) 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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This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides).


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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