Venus Metals Corporation Limited: EM Conductors Identified from Greenbushes East HEM Survey
Perth, Australia - The Directors of Venus Metals Corporation Ltd. (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 Ltd. (ASX:VMC) holds a significant and wide ranging portfolio of Australian base and precious metals exploration projects comprising lithium, cobalt, vanadium, copper, zinc, nickel, gold and platinum group of elements.
Key project areas in Western Australia include:
- Pincher Well Zinc-Copper Project (Youanmi): Over 5 km of under explored VMS trend with an Exploration Target of 15-20 Million Tonnes@ 2-8% Zinc,which also hosts a number of high grade lodes (>10% Zinc).
- Currans Well Cobalt-Nickel-Copper Project (Youanmi): Significant Cobalt mineralisation up to 1483 ppm Co in historical drilling. Extensive Lateritic Duricrust Co-Ni target areas identified.
- Curara Well Nickel-Copper-Gold Project (Doolgunna):10 km northeast of Sandfire Resources DeGrussa Copper Mine. Wide intercepts of disseminated Nickel Sulphides (Millerites) in Ultramafics.
- Southern Cross Vanadium Project (Youanmi): JORC 2012 Inferred Vanadium Mineral Resource of 167.7 Millions Tonnes @ 0.41% V2O5, 7.52% TiO2.
- Strategic Lithium-Tantalum Projects in WA.
Source:
Venus Metals Corporation Ltd.
Contact:
Matthew Hogan Managing Director T: +61-8-9321-7541 Barry Fehlberg Executive Exploration Director T: +61-8-9321-7541
