A spherical torus based volumetric neutron source (ST-VNS) concept has been developed in recent studies as a possible intermediate step to develop the necessary technology for reactor components of future fusion power plants. Such a VNS would complement ITER in testing, developing, and qualifying nuclear technology components. A recently developed design concept for a spherical torus based VNS permits the development capability to increase fusion power and wall loading. Results of neutronics calculations for such a ST-VNS with neutron wall loading ranging from 0.5 to 5 MW/m2 have been competed. In this paper, we report the tritium breeding and neutronics performance of several power blanket compositions and configurations. These include, a helium cooled natural lithium in vanadium alloy structural material blanket; a helium cooled enriched lithium-lead, in a vanadium-alloy structure blanket; and a heterogeneous configured blanket consisting of a dual cooled blanket consisting of enriched lithium-lead enclosed in silicon carbide with ferritic steel for the structural material.