vms nearology

VMS is around 25k from AXT's main tenement.

Hopefully they have more than their general location in common:

Australian based mineral exploration company Venture Minerals Limited (ASX code: VMS) has
announced that the first hole (CHRCD001) in the drilling program at its Churchill Dam Iron-oxide-
Copper-Gold-Uranium (IOCGU) project in South Australia has intersected 130 metres of brecciated
and hematite-altered Gawler Range Volcanics.
Venture considers the brecciation and alteration style intersected to be typical of a mineralised IOCGU
system within the Olympic Dam IOCGU province of South Australia (Fig 1).
The discovery of such a large breccia system has prompted the Company to extend the current
program to include a second drill hole, scheduled to commence immediately upon the completion of
CHRCD001.
The Churchill Dam Project is well situated within the Olympic Dam IOCGU province, approximately
95km west of the recently discovered Carrapateena Prospect, 100km northwest of the recently
discovered Punt Hill Prospect and 90km southwest of the world class Olympic Dam Mine.
CHRCD001 is the first drill hole to reach Mesoproterozoic basement (Gawler Craton) within the
Churchill Dam Project EL3511, intersecting altered Gawler Range Volcanics at 803.5 metres.
Brecciated Gawler Range Volcanics with varying amounts of
hematite±carbonate±silica±chlorite±sericite alteration was intersected from 836 to 966 metres. As of
the start of day shift yesterday drilling had reached 1008 metres within banded rhyolite of the lower
Gawler Range Volcanics.
CHRCD001 is testing a gravity anomaly that is up to 4km wide and extends over a strike of 12km,
with the results from this drill hole Venture Minerals will gain a valuable in-sight into what this
geophysical feature may represent.
The initial indications are very encouraging as it suggests that the gravity high could represent a large
mineralised IOCGU system that is similar in style to the Olympic Dam project.