Lithium Update Henderson Project
Interest in the Mt Ida/Ularring Greenstone Belt as a target for hardrock lithium exploration has increased significantly following recent announcements by Red Dirt Metals (RDT) of substantial intersections of spodumene-bearing lithium pegmatites at their Mt Ida Project, located directly north from and abutting VMC tenement E30/520 (Figure 1*; Refer RDT ASX releases 28 September 2021, 14 October 2021).
Lepidolite-rich lithium pegmatites are also known from tenements to the south of E30/520 as reported by Ora Banda Mining (OBM).
Historical geological mapping identified abundant pegmatite occurrences, several classified as lithium bearing, over an extensive 10km zone surrounding the Riverina Gold Mine (Refer OBM ASX release 11 October 2021) (Figure 1*).
- VMC has initiated a review into the hard-rock lithium potential of the Henderson tenements. Available historical geological mapping confirms the common presence of pegmatite dykes cross-cutting the greenstone sequence at VMC's Snake Hill and Emerald South Prospects (Figure 1*; open file reports A14919, A21888).
- A sampling and mapping programme has started to determine the composition of outcropping pegmatites. A total of 97 rock samples have been collected during a reconnaissance first field visit (Figure 1*) with assays pending.
- Results will be released to the market after assay results have been received and completion of the review.
The Henderson Project comprises five exploration licences covering an approximately 800 km2 area that includes about 25km strike length of the Mt Ida/Ularring Greenstone Belt (Figure 1*). The current sampling is focussed on tenement E30/520 (90% Venus, 10% Prospector) and E29/1112 (100% Venus).
*To view 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 and base metals exploration. 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%) (OYG JV); Indicated and Inferred Resources of the mine is 1.7 million ounces of gold.
Exciting new discoveries at the Youanmi Gold Mine have been made at the Grace prospect in footwall granites where very high grades of free milling gold have been intersected, including 25m @34.7g/t Au from 143m (RXRC 287) and 13m @60.49 g/t from 181m (RXRC 239). The Grace Prospect may substantially add to the Youanmi Gold Mine resources.
Venus Metals Corporation Limited