Greenbushes East VMS Base Metals Project Hem Survey Identified Several EM Conductors That Coincide with Magnetic Anomalies
EM Conductors Identified from Greenbushes East HEM Survey
Perth, Sep 27, 2018 AEST (ABN Newswire) - The Directors of Venus Metals Corporation Limited (
ASX:VMC) (or the Company) are pleased to announce that the Xcite HEM survey flown by NRG over its 100% owned Greenbushes East VMS Project was successfully completed.
The HEM survey targeted volcanogenic massive sulphides (VMS) similar to the Kingsley VMS discovery (Wheatley prospect) by a JV between Teck Cominco and BHP Billiton in 2007 and the recently announced Thor VMS system discovered by Venture Minerals (ASX:VMS) (ASX VMS release 8 August 2018).
Highlights:
- The preliminary results highlight a number of conductive features that show similarities to the Thor VMS system.
- The EM anomalies are broadly coincident with discrete magnetic anomalies.
- EM anomalies occur proximal to anomalous historical Zn and Cu geochemistry and a historical gravity high (refer ASX release 17 September 2018).
Project background
The Greenbushes East Project comprises exploration licences 70/4810 and 4814, 100% owned by Venus and located in the Balingup Metamorphic Belt. The tenement area is southeast of Talison Lithium's world-class Greenbushes Lithium-Tantalum mine, and Li-Ta exploration has been the focus of Venus' exploration activities to date.
The Xcite survey comprised two blocks flown at 300m line spacing; one block containing 20 flight lines oriented northwest-southeast for a total of 77 line kilometres, the other block containing 4 east-west flight lines for 12 line kilometres (see Figure 1 in link below).
First pass assessment of the preliminary Xcite HEM results provided by independent geophysical consultants Core Geophysics has outlined three EM anomalies (see Figure 2 in link below). The preliminary results highlight a number of conductive features that show similarities to the Thor VMS system. Further analysis remains to be completed on the final data, expected to be received in the coming weeks, to confirm these results.
The EM anomalies are broadly coincident with discrete magnetic anomalies (see Figure 2 in link below) and occur proximal to anomalous historical Zn and Cu geochemistry (Wamex report A79877).
Following the analysis of the final Xcite HEM data by Core Geophysics, the results will be reviewed by Venus for planning of ground follow-up programs across the EM anomalies, and drill testing.
To view figures, please visit:
http://abnnewswire.net/lnk/W8UX27NH
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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