Quarterly Report
for the period ending 30 June 2016
Highlights
-
On-going exploration has now delivered a total of six drill targets covering over 260 hectares at the Thali Silver/Lead/Zinc Project, Loei Belt, Northern Thailand.
-
Maiden drill program finalised at the Thali Project.
-
Venture secures six lithium prospects within the Greenbushes Mineral District, Western Australia.
Introduction
During the June Quarter Venture continued to advance its Thailand Projects with new discoveries at the Thali Silver/Lead/Zinc Project, as well as finalization of the maiden drill program. The quarter also saw the Company further diversify its portfolio by securing six lithium prospects within the world class Greenbushes Mineral District in Western Australia.
Exploration at Thali during the quarter continued to deliver new discoveries, including high grade soil anomalies at the Thali Far North and Far East prospects (Refer to Figure Two). These latest discoveries have added significantly to the project with a total of six "walk up" drill targets covering over 260 hectares now identified. Venture has also finalised its maiden drill program, which includes a combination of RC and diamond drilling targeting the majority of high grade soil anomalies. Approval from local authorities for the drill program is currently being finalised.
The June Quarter also saw Venture secure a large land holding hosting numerous lithium prospects within the Greenbushes Mineral District. The Company utilised its extensive tin/tantalum database and tin experience to identify the new opportunities, as hard rock lithium prospects often occur with tin/tantalum prospects. Following the new acquisition, Venture is now completing reconnaissance work to confirm and prioritise its new lithium targets.
Venture Fast Facts
ASX Code: VMS
Shares on Issue: 316 million Market Cap: $12 million Current Cash: $2.7 million (30 June 2016)
Recent Announcements
Additional High Grade Silver/Zinc/Lead Targets Discovered at Thali - Loei Belt, Thailand (29/07/2016)
Thailand Project Update (11/05/2016)
Venture Secures Six Lithium Prospects around Greenbushes
(04/05/2016)
Second Thailand Project Delivers Venture another Zinc Discovery (13/04/2016)
High Grade Gold Zone Discovered at Thali Silver/Lead/Zinc/Copper Project
(30/03/2016)
Thali Grows into a Substantial Exploration Project - Two New Discoveries (18/02/2016)
Thali Project grows tenfold following discovery of large soil anomaly (19/11/2015)
Venture confirms high grade copper/lead/silver Thali Prospect (22/10/2015)
W: www.ventureminerals.com.au E: [email protected]
Page 1 of 13
Figure One: Project Map | Thailand
South East Asia
Venture continues to progress its strategy of targeting South East Asia for exploration opportunities. Venture has identified an extensive belt of "skarn style" mineralisation throughout the region and continues to target base and precious metal opportunities.
Venture has established a low cost regional office in Bangkok and continues to build a cost effective portfolio of exploration projects over the medium term. The Company has had licenses granted over two project areas in Thailand (Pak Yang and Thali) and now awaits the granting of several additional licenses covering two other project areas.
Page 2 of 13
Thali Project (Silver/Lead/Zinc)
The June Quarter has seen Venture continue to deliver exploration success from targeting its northern Thailand projects. At Thali the Company extended its surface sampling and mapping program, the results of which delivered two new discoveries namely the Thali Far East and Thali Far North prospects. These latest discoveries have seen Thali grow into a substantial exploration project which hosts silver/lead/zinc drill targets covering an area of over 260 hectares and extending over 7.5km of strike (Refer Figure Two).
Figure Two | Thali Project contoured soils | Silver (Ag)
Venture has now finalised its drill program, which includes a combination of RC and diamond drilling targeting the majority of high grade soil anomalies. Approval from local authorities for the drill program is currently being finalised.
Page 3 of 12
Thali Geology
Venture's geological mapping of the new Thali base metal prospects shows the area is underlain by a mainly north striking sequence of sedimentary rocks, including limestone, intruded by a series of intermediate to felsic porphyries, diorite and granite. The observed base metal mineralisation is associated with gossanous veins and stockwork zones in sericite, silica and sulphide altered igneous rocks (mainly Thali North and Thali South), and with stockwork veined and sulphide-bearing calc-silicate skarn within the sedimentary host rocks (especially Thali East and North-East). Regional scale geological mapping suggests the host sedimentary rocks are of Permian-Triassic age, and the granitic intrusions of Triassic age; the Triassic granitoid suite is widely associated with base and precious metal deposits within the Loei Belt.
Pak Yang Project (Silver/Lead/Zinc/Copper)
The Pak Yang Project is located in the Loei Belt and is situated 20km east of Thali and hosts similar geology and style of mineralization. Results from the first surface sampling program successfully identified a large zinc system extending over 2km of strike (Refer Figure Three).
Figure Three | Pak Yang Project | Zinc soil anomaly
Page 4 of 12