Venture Minerals Limited’s first hole (co-funded by WA State Government’s Exploration Incentive Scheme) at the Odin Prospect, has intersected disseminated Nickel-Copper sulfides within a mafic-ultramafic host unit.
The nickel-copper target was identified following the company’s maiden drill program designed to initially test the Odin lithium target. Between two of the pegmatite zones intersected in the hole, the drilling intersected a continuous 21 metre zone of minor disseminated Nickel-Copper sulfides hosted within a mafic-ultramafic gneiss, which may represent part of a metamorphosed magmatic nickel-copper sulfide system. Hand-held XRF analyses verified the presence of elevated nickel and copper within these sulfides.
Venture’s surface sampling shows significant nickel and copper geochemical anomalies within the mafic-ultramafic target units a few kilometres to the south west and south east of the first hole.
Venture’s Managing Director said the company is excited by the new opportunity identified at the Odin Prospect.
“Although the pegmatites intersected in the first hole were not lithium bearing, the discovery of a broad zone of nickel bearing sulphides within the lithium target zone has delivered Venture an excellent new opportunity.”
Also, within the Odin Nickel-Copper Target, the Company has identified an untested EM anomaly from historic airborne EM imagery from a 1990’s GEOTEM survey. The anomaly is located approximately 1 km along strike north-east from the recently completed first drill hole.
The first hole at Odin initially targeted pegmatite units which have the potential to host lithium such as the nearby Greenbushes Mine located ~30 km south of the world’s largest hard rock lithium mine (which produces ≈40% of the world’s lithium) within the Greenbushes Mineral District of Western Australia.
A total of 20 metres of pegmatites spread over several intervals was intersected within the mafic-ultramafic gneiss. The assay results concluded that the pegmatites intersected in ODD01 did not contain significant lithium
