Mangaroon Rare Earth Project Multiple Priority Targets
Perth, Sep 5, 2022 AEST (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the delineation of multiple priority targets at Mangaroon North based on processed remote-sensed ASTER and Sentinel data, geology and regolith maps, ortho-images, and radiometric data.
Venus Metals is well positioned with four tenements (E08/3229, E08/3375, E09/2422, and E09/2451) located adjacent to Mangaroon-Yangibana rare earth (REE) mineralised zone. Venus's E09/2541 abuts Hastings Technology Metals Ltd (HAS) Yangibana tenement, Dreadnought Resources Ltd (DRE) Yin tenement and Lanthanein Resources Ltd (LNR) tenement. The other three ELs (E08/3229, E09/2422 and ELA08/3755) all abut Dreadnought's tenure (Figure 1*).
Venus's Mangaroon North project tenements are considered prospective for REE due to the following:
- Same host lithologies as Yin and Yangibana are present within Venus' tenements. Geological continuity from Yin and Yangibana along the regional northwest strike.
- Linear and circular structures along major northwest-trending translithospheric faults, including the Edmund Fault, intersect Venus' tenements. These faults are interpreted to have acted as pathways for carbonatitic or ferrocarbonatitic melts or brine-melts.
- Proven ironstones in the carbonatite complex have distinct signatures in ASTER and Sentinel maps. Presence of ironstones and K, Th, and U anomalies in all Venus tenements.
- High-priority targets have anomalies (Figures 2-3*) in multiple techniques.
A field programme of mapping and sampling is scheduled to commence in the second week of September 2022 to evaluate the multiple targets.
Venus's Managing Director commented "We're extremely encouraged by the recent REE exploration success in the region by Dreadnought Resources Ltd and look forward to updating the market in due course regarding the multiple targets that have been identified through advanced remote-sensed data processing methods".
*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