Drilling Commenced at Poona Lithium Project
POONA LITHIUM-TANTALUM PROJECT
- Drill testing of priority target areas has commenced at Poona (E 20/885),
- Target areas include Poona Trend and Poona East (refer Figure 1 in the link below) both of which have returned a significant number of high-grade lithium assays in surface samples,
- The Poona Trend is a lithium-rich trend approximately ten kilometres in length and hosts a number of known lithium occurrences, with surface sampling having returned high-grade lithium assays of up to 1.93% Li2O (refer ASX release 17 August 2016),
- Poona East was recently identified during regional reconnaissance, with surface sampling returning multiple high-grade lithium assays (up to 2.58% Li2O) (refer ASX release 6 October 2016), over more than 1,000 metres of strike,
- Reverse circulation drilling will test key stratigraphic targets including primary pegmatitic units as well as altered schistose stratigraphy,
- Results are expected in the coming weeks.
To view tables and figures, please visit:
About Venus Metals Corporation Limited
Venus Metals Corporation Limited (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.
Venus Metals Corporation Limited