Quarterly Report for June 2016
Perth, July 28, 2016 AEST (ABN Newswire) - Venus Metals Corporation Limited (
ASX:VMC) are pleased to provide the Company's Quarterly Report regarding activities conducted during the quarter ending 30th June 2016, which include:
- Poona Lithium Project: Recent sampling at Poona has confirmed the presence high-grade lithium mineralisation within the project area associated with metasomatically altered pegmatites. Results from Poona include rock chips of 2.01% Li2O & 1.54% Rubidium (Rb).
- Greenbushes East Lithium-Tantalum Project in WA: A number of priority target areas have been identified with regional radiometrics showing a zone of potassic enrichment (not dissimilar to the Greenbushes mine itself) which is indicative of underlying intrusive stratigraphy - pegmatites have also been mapped in the area.
- Nardoo Hill Lithium Project: Nardoo Hill pegmatites outcrop over an extensive area and a significant number of rockchip samples returned assays highly anomalous in lithium (up to 0.27% Li2O) ,Niobium and Tantalum including: 42.8% Niobium (Nb) & 13.1% Tantalum (Ta) confirming the potential of the area to host high-grade lithium, Ta and Nb mineralisation.
- Wodgina South (Pilgangoora region) Lithium-Tantalum Project: Recent reconnaissance sampling across three identified target areas has returned a significant number of surface samples hosting anomalous lithium (up to 6567 ppm (0.66%) Li2O & 3134 ppm Rb) associated with pegmatites and their host stratigraphy.
- Curara Well Gold-Diamond-Base Metals Project- Doolgunna Region Company has been awarded a $150,000 grant toward drilling on the Curara Well Gold-Diamond-Base Metals Project at Doolgunna Region, under WA Government Exploration Incentive Scheme Co-funded Exploration Drilling Programme.
To view the report, please visit:
http://abnnewswire.net/lnk/380495E6
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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