Quarterly Activities Report
Perth, Oct 30, 2023 AEST (ABN Newswire) - Venus Metals Corporation Limited's (
ASX:VMC) activities conducted during the quarter ending 30 September 2023 include the following:
Youanmi South Lithium Project (100% Venus):
- The Deep South Lithium mineralization is shaping up as a significant new lithium find at Youanmi greenstone belt. Geological mapping shows three main zones of outcropping Li-rich pegmatite over a 300m x 200m area. Referred to as Central Zone (up to 4.5 %Li2O), East Zone (up to 4.6 %Li2O), and North Zone (up to 4.6 %Li2O) common areas of high Li grade are associated with coarse grained petalite (LiAlSi4O10), a Lithium mineral known to occur with spodumene (LiAl(SiO3)2) in other Lithium deposits in the region (e.g. Mt Holland) (refer ASX release 18 September 2023).
- Exploration work has been accelerated to better understand the dimensions and distribution of the pegmatites and includes detailed field mapping and planned drill testing.
Mangaroon North Gold-Rare Earth Project (100% Venus):
- Recent surface sampling results shows that the highly anomalous copper (Cu) and zinc (Zn) concentrations are mostly associated with ironstones of the Kiangi Creek Formation and a broad mineralised trend coincides with a NW-striking residual gravity anomaly. Elsewhere in the region, the Discovery and Kiangi Creek formations of the Edmund Group host several base metal (Cu, Pb, Zn) occurrences (refer ASX release 12 October 2023).
- Several positive magnetic dyke features in parallel have been identified in Venus' E09/2422 and E08/3229 that are considered prospective for Ni-Cu-PGE mineralisation analogous to DRE's Money Intrusion.
Henderson Nickel - Lithium Project (Farm-in and Joint venture agreements with IGO Subsidiary):
- IGO undertook reconnaissance field mapping with a consultant mapper who specialises in rare metal pegmatites and structural geology.
- Extensive soil sampling program is in progress.
Bridgetown Greenbushes Li and Ni-Cu-PGE Exploration Project (Farm-in and Joint venture agreements with IGO Subsidiary):
- A detailed interpretation of soil sampling results underway, including target definition.
- Planning and prioritisation of areas for follow up landholder engagement and subsequent work programs.
- Field mapping and rock chipping and roadside stream sediment sampling are planned.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/8RG38LDQ
About Venus Metals Corporation Limited
Venus Metals Corporation Limited (ASX:VMC) is a West Australian based Company with a focus on gold, base metals, vanadium and lithium exploration projects. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north-east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%); Indicated and Inferred Resource of the mine is in excess of 3 million ounces of gold.
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