Pingaring Project, Nickel-Cobalt, Western Australia

The Company secured exploration licences around and along strike from Golden Mile Resources' (ASX: G88) recent Quicksilver Nickel-Cobalt Discovery located ~300 km east of Perth in Western Australia and named it the Pingaring project. The Pingaring project is only 4 km along strike to the south-east of the Quicksilver Nickel-Cobalt Discovery and contains 145 strike kilometres of ultramafic targets interpreted using geophysical data and surface geochemistry to be the same host unit that the Quicksilver Ni-Co deposit sits within. 

All but one of the four exploration licence applications that make up the project is 100% unencumbered. The initial application (of 191 km²), which is adjacent to Quicksilver has 38 km² that overlaps with a competing application with the tenure now subject to a two-way ballot to determine the outright holder in the coming months. Regardless of the outcome of the ballot, Venture will have the dominant land position within an emerging new Nickel-Cobalt province in Western Australia, that is only 100 km west of the Forrestania Greenstone Belt which contains the Spotted Quoll and Flying Fox Nickel Deposits. Once the tenements are granted in the coming months, the company will commence a detailed surface mapping and sampling program to define priority drill targets.

 

Pingaring Project - Location Map

Pingaring Project - Geological Setting