V Ten Metals Corp. (TSXV: VTEN | OTCQB: VTNMF) has announced the completion of its first round of field geochemical soil sampling at the Tanami Property in the Northern Territory of Australia. The program focused on the margins of the Billabong Complex, targeting rare earth element mineralisation across a 1,237 sq km exploration area. Samples are now in transit to laboratories, with results pending. Investors in Canadian junior mining exploration companies may be watching this milestone as a signal of active fieldwork progress at the project.

Key Points

  • V Ten Metals Corp. (TSXV: VTEN | OTCQB: VTNMF) completed its first field geochemical soil sampling program at the Tanami Property, Northern Territory, Australia.
  • The program covered exploration licence EL 23848, comprising approximately 180 ultra-fine soil samples along nine lines spaced 2.5 km apart, targeting heavy rare earth element (HREE) mineralisation.
  • Partial funding of $24,393 (inclusive of GST) was received from the Northern Territory Department of Mining, Geophysics and Drilling Collaborations program.
  • Investors should watch for laboratory geochemical results, which had not been released at the time of the announcement.

Billabong Complex Targeted for Heavy Rare Earth Element Potential

The geochemical activities at EL 23848 comprised a partial leach survey along the margins of the Billabong Complex, designed to locate significant rare earth element mineralisation. The release states that EL 23848 is considered prospective for heavy rare earth elements by analogy with Northern Minerals' Wolverine and satellite HREE deposits in Western Australia, which are hosted by age-equivalent Archean metamorphics and overlying Palaeoproterozoic metasediments. The survey consisted of approximately 180 ultra-fine soil samples collected along nine lines at 400-metre spacing, the company disclosed.

Northern Territory Government Grant Partially Supports Tanami Geochemical Work

V Ten Metals disclosed that partial funding for the EL 23848 works program was supported by a grant of $24,393, inclusive of GST, received from the Northern Territory Department of Mining, Geophysics and Drilling Collaborations program. The grant was directed specifically toward geochemical assessment on the property. The company did not disclose whether additional government funding arrangements are in place for the remaining exploration licences within the four-licence Tanami Property package.

Tanami Property Scale and Strategic Context Within V Ten's Portfolio

The Tanami Property comprises four semi-contiguous granted exploration licences — EL 23848, EL 31402, EL 23874, and EL 23875 — covering 1,237 sq km situated approximately 450 km northwest of Alice Springs. The company notes that the property is strategically located adjacent to Newmont's Granites Mine and that a farm-in joint venture is in place exploring for potential gold targets. D. Blair Way, President and Director, serves as the National Instrument 43-101 Qualified Person who approved the technical disclosure in the release.