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Venture Minerals names new chair to guide WA rare earths chase

Venture Minerals has named Tim Lindley as its new non-executive chair. Credit: File

Venture Minerals (ASX: VMS) has appointed experienced board director Tim Lindley as its non-executive chair as the company continues to focus on the development of its Jupiter rare earths deposit in WA’s Mid West region.

The prospect forms part of the company’s broader Brothers project where it has recently recorded some impressive drill hits including a high-grade 2m intercept going 26,958 parts per million total rare earth oxides (TREO) from just 38m.

Just last month, Venture received the third and final batch of assays from the recently-completed stage one drill program at Brothers, with standout results of 60m at 2014ppm TREO including 22m going 3024ppm and 39m at 2960ppm including 18m at 5206ppm.

Lindley is an experienced investment banker with a background in project finance, debt and equity capital markets, in addition to mergers and acquisitions. He has also led and completed more than 100 financing transactions for resource companies operating across jurisdictions including Africa, Asia and Australia. During his 25-year career, Lindley has held several senior and executive roles within Australia and internationally, including as Australian country head of Barclays Bank and Australian managing director of Morgan Stanley and he led several transactions for the Langer Heinrich mine and Paladin Energy. He also holds a master’s degree in economics and finance and a bachelor’s degree in history and economics from the University of New South Wales.

Jupiter has the makings of an extraordinary asset, with its grade and scale demonstrated in recent drilling results. It’s clear that investors agree – we should focus our attention to deliver on Jupiter’s potential. It’s this potential that has enabled Venture to attract a chair of Tim’s calibre. What a privilege to have someone of Tim’s credentials join our board, bringing the ability to leverage his institutional investor networks to advance Jupiter.
Venture Minerals non-executive director Philipps Leggat

Management says last month’s drill results from Jupiter validated the geophysical work it completed at the 40-square-kilometre project. It says 71 drillholes from a total of 78 hit mineralisation of more than 1000ppm TREO.

Encouragingly, the results maintained the magnet rare earth oxides (MREO) encountered at about 23 per cent, similar to results previously received from the phase one program. An added positive was the continuation of low levels of uranium and thorium.

Venture has also completed a phase two drill program well ahead of schedule, with 246 holes drilled for 14,370m on a 500m-by-250m grid that will provide a level of data suitable to generate a maiden resource from Brothers.

With Lindley’s background and experience now added to the company’s strategy-making brains trust, the market will be keeping a close eye on what Venture can unearth as it continues to reach for the stars with Jupiter.

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