Quarterly Activities Report - December 2023
Perth, Jan 31, 2024 AEST (ABN Newswire) - Venus Metals Corporation Limited's (
ASX:VMC) activities conducted during the quarter ending 31 December 2023 include the following:
Youanmi Lithium Project - Deep South Prospect (100% Venus):
The Youanmi Deep South mineralization is a significant new lithium find situated in a poorly outcropping and under-explored area directly east from the crustal-scale Youanmi Fault Zone, in a newly defined southern extension of the Youanmi Greenstone Belt.
- Several new areas with petalite-bearing pegmatites (up to 4.6 %Li2O) identified at the Deep South Prospect. The footprint of outcropping lithium-rich pegmatites (>1 %Li2O) has now been extended to a 450m x 450m area.
- The areas of mapped lithium pegmatites occur within an extensive and regionally significant >110 ppm Li2O UltraFine (UF) soil anomaly measuring about 1.1 km x 1.75 km with the potential for additional lithium pegmatites under cover. Infill 50m x 50m soil sampling shows a very strong geochemical anomaly, up to 833 ppm Li2O in soils, to be associated with the lithium pegmatites. Planned drilling at Deep South to commence on 5th February 2024 (refer ASX release 30 January 2024).
Marvel Loch East Base Metals Project (100% Venus):
A reconnaissance gravity survey was completed within the Marvel Loch East Project (E15/1796) to confirm and further define a significant gravity anomaly outlined in the wide spaced (2km) government gravity data, semi-coincident with a magnetic dyke anomaly defined in the recent company high resolution aeromagnetic survey. The E-W trending dyke is interpreted to be prospective for Ni-Cu mineralisation as has been reported along the Jimberlana Dyke. The reconnaissance survey defined a lenticular gravity anomaly of 0.4 - 0.5mgal approximately 600m x 100m in size coincident with the magnetic dyke anomaly and open along strike. 3D inversion modelling confirms the geometry of the anomaly and indicates a shallow depth below recent cover.
Youanmi Pincher North Base Metals Project (100% Venus):
A small ground-based gravity survey has been completed over the Pincher North Base Metals Project E57/986.The survey defined new gravity anomalies coincident with aeromagnetic responses with the previous gravity trend resolving into a more subtle response. The new gravity anomalies are evident as ovoid like shapes approximately 300m x 150m in size providing a peak anomaly response up to +0.6mgal.
A moving TEM survey was conducted (E57/986 and E57/1019) to detect and delineate bedrock conductors associated with the coincident magnetic and gravity anomalies that may representing potential VMS base metal mineralisation akin to the Pincher Well North Dome zinc-copper mineralisation or similar. Two stronger late time anomalies (PW1 and PW2) evident on line 6823050N and a subtle mid to late time response detected at the Linda Gossan are suggested for further investigation.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/S76Q7Q01
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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