Greenbushes Lithium Project - Extensive Target Areas Identified
Perth, July 7, 2016 AEST (ABN Newswire) - The Directors of Venus Metals Corporation Limited (
ASX:VMC) are pleased to announce that the initial evaluation of its Greenbushes lithium-tantalum project areas in Western Australia (Figure 1, see link below) shows extensive target areas to the east of the 'wold-class' Greenbushes lithiumtantalum mine.
1.0 Introduction
Venus Metals Corporation Limited ('Venus Metals') has made applications for two strategic exploration licences in the Greenbushes region of Western Australia. These new applications cover an area of adjacent to, and east of, the world-class Greenbushes Lithium-Tantalum mine. The tenement areas contain outcropping pegmatitic stratigraphy, the host rock for lithium-tantalum mineralisation in the region.
The region hosts Talison Lithium's world-class Greenbushes Lithium-Tantalum mine, with other tenement holders in region including Lithium Australia NL (ASX:LIT) and Metalicity (ASX:MCT) - Figure 2 (see link below).
2.0 Greenbushes Lithium-Tantalum Project - Update
An evaluation of Venus Metals Greenbushes project has delineated a number of priority targets within the tenement area. Exploration data shows two initial targets to be followed up, specifically the Greenbushes East and Northeast targets.
2.1 Greenbushes East
The Greenbushes East target was delineated utilising the regional geophysical and geological data sets. The radiometrics show a zone of potassic enrichment (not dissimilar to the Greenbushes mine itself) and is indicative of underlying intrusive stratigraphy, with mapped pegmatites in the area (Figures 1 & 3, see link below). Mining at Greenbushes has enhanced the radiometric signature of the mine, whilst shallow alluvial and lateritic cover results in a subdued signature at Greenbushes East.
This zone of enrichment covers over 6,000 metres of strike and represents a substantial target for ongoing exploration.
2.2 Greenbushes Northeast
The Greenbushes Northeast target lies in the north of Venus metal's ELA70/4810 (Figure 3, see link below).
The target here are 'placer deposits' of near surface alluvial tantalum-lithium-tin mineralisation that may have been deposited in old river channels feeding off the surrounding topography, including what is now the Greenbushes mine site.
Globally, placer deposits are of significant economic importance due to their nature. They often host near surface concentrations of important minerals, such as tantalum-lithium, tin and gold. These deposits are typically easily mined and processed, making development attractive to mineral producers.
The Greenbushes Northeast target covers over 3,000 metres of strike was initially identified through exploration in 20081; it has yet to be properly assessed.
3.0 Conclusion
A detailed evaluation of the Greenbushes lithium project area continues with ongoing studies further delineating and defining targets for future exploration in this 'world-class' mineral province.
Venus Metals looks forward to further updating shareholders as exploration commences at Greenbushes.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/XT035CID
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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