Addendum to ASX Release on Giant Pegmatite at Poona East
Perth, Oct 30, 2017 AEST (ABN Newswire) - Venus Metals (
ASX:VMC) announces the following addendum to the previous ASX announcement "Giant Pegmatite identified within Poona East Project...." on 11 October 2017.
The target area was initially delineated from GSWA 100k map and subsequently a quick reconnaissance field visit was made in 2016. Recently a geological investigation and preliminary mapping was carried out by field traversing. The giant Pegmatite body (1.3kmx300m wide) was identified by our Senior Geological Consultant Mr Barry Fehlberg (MAusIMM). The strike extent of the zone containing the pegmatite body is interpreted to be 3.5 kilometres long, and much of it is under cover and therefore prospective. The geological mapping is at an early stage and it is not possible to produce a map consistent with the JORC Code at this stage.
The pegmatite is mineralised, with old Beryl workings being located and identified in the field traversing. Beryl mineralisation was also noted at other locations within the pegmatite body. The presence of Beryl in the Jackson's Reward pegmatite and Tantalum (identified from within a previously un-prospected downstream drainage system) makes it as potential target for LCT mineralisation. The Company has planned to conduct a detailed geological mapping and sampling soon to further refine the target.
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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