Venus Metals Corporation Limited (
The VMC tenements are located directly south from and abut the Mt Ida Lithium-Copper-Gold project (Red Dirt Metals; RDT).
- Following the identification of LCT pegmatites at Henderson (refer ASX release 7 February 2022), assay results for a further 89 rock samples have been received with 29 pegmatite samples reporting over 100 ppm LiO2 and maximum returns of 5.8 %LiO2 and 3.6 %LiO2 respectively (Table 1*).
- The two highest Lithium assays are from the previously reported pegmatites at the Emerald SE Prospect which, from outcrop mapping and sampling, has been identified as a priority area for drilling.
- A Reverse Circulation (RC) drill rig has been contracted to test areas prospective for lithium and will also follow-up gold targets identified from Stage 1 aircore drilling (refer ASX release 9 September 2021).
Exploration during Q1 2022 focussed on tenement E30/520 and included detailed sampling and mapping of outcropping pegmatites, utilising georeferenced drone imagery. Exploration to date has identified several outcropping pegmatite clusters spread over a total strike length of some 20km along the western margin of the Mt Ida/Ularring Greenstone Belt and proximal to the Ida Fault (Figure 1*). Of particular interest is the Emerald SE area which shows a high density of outcropping pegmatites with elevated lithium content. The next phase of exploration will be drill-testing of prospective pegmatites to identify any possible spatial zonation in rare-element chemistry within the pegmatite fields, as has been reported for this class of LCT pegmatites globally (Bradley and McCauley, 2016). A RC drill rig has been contracted and is scheduled to commence drilling at Henderson in June 2022.
*To view tables and figures, please visit:
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.
Venus Metals Corporation Limited
Tel: +61 8 9321 7541