Venus Metals Corporation Limited (ASX:VMC) Yarloo Well Tenement Granted HEM Survey to Commence
Perth, Feb 24, 2011 AEST (ABN Newswire) - The Directors of Venus Metals Corporation are pleased to confirm the granting of tenement E59/1593 "Yarloo Well "Murchison Base Metal Project.
The Yarloo Well Project has returned anomalous base metal geochemistry from a Venus initiated CSIRO well and water bore sampling program. A significant result was returned from a sample collected at the Yarloo Well with strongly elevated Cu (466ppb) and Zn (540ppb) values. Please refer ASX Announcement 14/10/2010.
Additionally, the CSIRO researchers report that "The groundwater is more saturated with respect to these secondary copper minerals than any other sample previously collected in the northeast Yilgarn regional groundwater. The Yarloo Well groundwater chemistry is similar to that found in groundwaters near the Jaguar VMS deposit," located 300 km north of Kalgoorlie, WA.
VMS mineralisation generally contain massive sulphides and can be detectable with electromagnetic technique as highlighted by Sandfire Resources - Degrussa Cu Deposit, Jabiru Metals - Jaguar deposits.
As such, it is proposed that the area surrounding the Yarloo Well, be flown with a high resolution Helicopter Electromagnetic (HEM) survey. The survey will provide both conductivity and magnetic data which will highlight any massive sulphides or conductive materials. The area proposed* to be flown is shown in Figure 1 (see link below).
http://www.abnnewswire.net/media/en/docs/530549.pdf
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.
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