Venture Minerals Limited announced that it has secured landholder approval to drill test the Odin Prospect, a substantial lithium target located 30km south of the world’s largest hard rock lithium mine within the Greenbushes Mineral District of Western Australia.
In addition to the landholder approval, the Venture Minerals has also received co-funding from the Western Australian State Government, which will effectively halve the cost of the company’s maiden drill program.
The Odin Prospect was discovered following geological mapping and geochemical sampling approximately 12km east of Venture’s Thor VMS (Volcanogenic Massive Sulphides) Prospect. The mapping showed the presence of coarse “books” of muscovite within the laterite which, in conjunction with the tin, tantalum and niobium anomalism, is considered indicative of pegmatites in a deeply weathered environment.
Venture has continued to do follow up sampling to fully define the geochemical signature of the Odin Prospect in preparation for drill testing in early 2018.
“The Exploration team continues to work diligently on preparing the Company’s “walk up” drill targets for testing across a suite of base and precious metals prospects from its Western Australian tenement portfolio. The outcomes of this work have seen the Odin Prospect, being a potential Greenbushes “look-a-like” being advanced to the stage of imminent drilling”, said Hamish Halliday, Venture Minerals’ Managing Director.