The holes nailed primary rare earths intercepts of 49m at 1313ppm TREO from 12m to end-of-hole (EOH) and 49m going 953ppm from 12m to EOH, respectively. Both intercepts contained rare earths runs of between 4m and 20m going between 1118ppm and 2011ppm TREO at depths shallower than 40m.

Even back then, Venture was likely to have believed that its new project appeared to have the legs to turn into something special.

The company’s first reconnaissance drilling at Iron Duke confirmed the presence of high-grade rare earths, including one hole intercepting 30m at 1982ppm TREO from 35m to EOH with 15m going 2672ppm from 40m.

Another hole gave up 40m at 1832ppm TREO from 25m to EOH including 10m running 2725ppm from 30m, while a third hole intersected 42m going 1619ppm from 5m to EOH and included 10m at 2595ppm from 30m.

After that showing, Venture was off to the races and the rest – just a year later – is now a legacy of one drilling success after another, with a maiden resource now imminent.

Just last month, Venture took full control of the project by paying a further $1.5 million to Sentinel, just as the company revealed a record new drill hit of 57m at 3430ppm TREO. That result was from a hole in the north-west part of the Jupiter target during the closing stages of Venture’s phase-one AC testing, which by then had covered the entire prospect area.

In addition to the upcoming infill high-grade resolution drilling at Jupiter and regional reconnaissance drilling in the greater Brothers area, Venture will continue working towards a maiden resource estimate for its main prospect and then press on to complete extensive metallurgical evaluation of its mineralisation.

Management says it is looking to soon engage independent consultants to assist with advancing the project.

Rare earths may have been sitting in the doldrums for a while now, from a price perspective, but there is a wave of critical thought that suggests it will soon pick up again under the irrepressible momentum of the global electrification imperative.

Venture’s unique Jupiter alkaline intrusive project – and whatever else may come from its other known, but untested rare earths potential in adjacent ground – could place the company in the vanguard of potential suppliers when the sun begins to shine again on this commodity sector.

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