- Venture Minerals (VMS) is set to launch a drilling program at a new nickel target in northwest Tasmania
- The new target is defined by a three-kilometre-long electromagnetic (EM) conductor, supported at the surface by nickel-in-soil anomalism
- Venture holds 100 per cent of the granted tenure, encompassing 13 kilometres of this prospective ultramafic unit
- The company says it aims to kick off drilling at the new target next week
- Venture Minerals shares are up 4 per cent to 2.6 cents at 11:45 am AEDT
Venture Minerals (VMS) is set to launch a drilling program at a new nickel target in northwest Tasmania.
The new target has been defined by a three-kilometre-long electromagnetic (EM) conductor, supported at the surface by nickel-in-soil anomalism.
The nickel zone sits within the same ultramafic belt that hosts Mallee Resources’s (MYL) Avebury nickel deposit, which hosts 264,000 tonnes of contained nickel in resources.
Venture holds 100 per cent of the granted tenure, encompassing 13 kilometres of this prospective ultramafic unit.
Venture Managing Director Andrew Radonjic said the company was “excited” to be testing this new nickel target.
“Venture’s diverse portfolio of landholdings within world-class mineral districts in Australia continues to provide shareholders with opportunities for new and meaningful discoveries,” Mr Radonjic said.
“The board looks forward to updating shareholders on the results as they come to hand from the drilling.”
The company said it aims to kick off drilling at the new target next week.
Venture Minerals shares were up 4 per cent to 2.6 cents at 11:45 am AEDT.