Sydney, May 16, 2017 AEST (ABN Newswire) - Venus Metals Corporation Ltd (ASX:VMC) are pleased to announce the Induced Polarisation (IP) Survey has commenced, identifying high-grade zinc mineralization across two highly prospective areas.

HIGHLIGHTS

- Induced Polarisation (IP) has proven to be an effective geophysical tool at Pincher Well in identifying high-grade Zinc mineralisation.

- IP surveys have commenced in two highly prospective areas:

A) Southern extensions of High-Grade Zinc intersected in recent RC drilling at Pincher, North Dome. Results include:

VPW40 10m @ 7.31% Zinc from 52 m
- including 6m @ 9.5% Zinc from 55 m
VPW60 7m @ 4.2% Zinc from 87 m
VPW62 10m @ 5.1% Zinc from 68 m
(refer ASX release 27 April 2017)

B) Surrounding historical drillhole PW017 (located on a substantially untested 900m x 400m long aeromagnetic high anomaly), which intersected High-Grade Zinc:

PW17 2.5 m @ 24.30% Zinc & 0.08% Copper from 87.5m
including 0.5m @ 45% Zinc from 89m[1]

- The IP survey includes a number of east-west survey lines (1.5-2km long @100-200m spacing) across the strike length of the two geophysical anomalies (Figure 1, see link below).

- Following the completion of IP survey, a close spaced ground magnetic survey is planned for the North Dome area, to be followed up with drilling.

- The Pincher Well Volcanogenic Massive Sulphide Trend covers more than 5 kilometres of strike and hosts a number of known zinc and copper prospects (Figure 2, see link below).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/3Z33P0PP

Bibliography

1. Wamex Report A8209, January 1979, Final Report on Pincher Hill, Youanmi, Newmont Pty limited

2. WAMEX Report A4395, November 1973, Pincher Well - Youanmi Project, Non Statutory Report: Diamond Drilling Logs & Assays Sheets, Western Mining Corporation.

3. Higgins, M., Exploration Review Report, Youanmi Project, Goldcrest Resources Limited, August, 2004 (Unpublished).


About Venus Metals Corporation Limited

Venus Metals ASX:VMC

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.

 


Contact

Matthew Hogan
Non-Executive Chairman
T: +61-8-9321-7541

Kumar Arunachalam
Chief Executive Officer
T: +61-8-9321-7541
Fax: +61-8-9486-9587
E: info@venusmetals.com.au



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