Venture granted tenure at West Maitland Project

Venture Minerals Ltd has been granted tenure in the West Maitland area.....

  Venture Minerals Ltd has been granted tenure in the West Maitland area located only 12km West of Mega Uranium’s Lake Maitland Deposit located in the North Eastern Goldfields region of Western Australia.The West Maitland area (148sqkm) is part of the company’s Maitland Channel Uranium project and covers 25km of palaeochannel (an old river bed) including the un-drilled western extension of the Lake Maitland radiometric Uranium anomaly.Adjacent drilling by Mt Isa Mines and BP Minerals in the 1970s intersected carnotite - the main source of uranium mineralisation in these calcrete deposits - between the Lake Maitland Deposit (J.O.R.C. compliant Inferred Resource of 32.7 Mt at 0.033% U3O8, Mega Uranium Ltd) and Venture’s West Maitland area.Results from the first reconnaissance drill program at the Maitland Channel Uranium project within the Southeast Yeelirrie and Southeast Maitland areas returned anomalous values between 10 and 23ppmUranium over two to four metre widths along distinctive trends. Due to the broad spaced nature of the drilling (up to 2000m by 800m) the company is encouraged to go back and drill further closer spaced follow-up holes in order to evaluate the significance of these intersections.Aircore Drilling at West Maitland and further follow-up drilling at Southeast Yeelirrie and Southeast Maitland is expected to commence in approximately two to three weeks.Venture Minerals Managing Director Andrew Radonjic said the company was committed to its uranium exploration program at the Maitland Channel Project and was looking forward to commencing an aggressive drilling program at the highly prospective West Maitland area.