This extensional drilling program is co-funded through the WA Governments Exploration Incentive Scheme.
- Initially five RC holes (CWRC001-005) were drilled to test three separate prospective targets delineated through 3D modelling of geophysical data.
- Wide intercepts of ultramafic stratigraphy, carrying disseminated nickel sulphides, were recorded in three drill holes in two different targets locations (S1 and S2), indicating the potential of the project area to host substantial mineralised systems (refer ASX release 23 January 2017).
- An ore petrography study identified Millerite (Nickel Sulphide), with accessory Pentlandite, Pyrrhotite and traces of Chalcopyrite, in RC chip samples from two drillholes (CWRC003 and CWRC005) located 3,000 metres apart on the 'S2' target (see Figure 1 in the link below).
- Three RC drill holes (CWRC001, CWRC003 and CWRC005) are being extended utilising diamond drilling to further test identified the sulphide mineralisation.
- The DMP co-funding grant is contributing towards the costs the diamond drilling program.
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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
Sandfire Resources NL