Venus Metals Corporation Limited (ASX:VMC) Identified Significant Conductive Anomalies At Radi Hills
Perth, May 23, 2011 AEST (ABN Newswire) - Venus Metals Corporation Limited (
ASX:VMC) are pleased to announce that significant conductive anomalies coincident to 5mGal gravity and magnetic anomalies at Radi Hills have been identified from a recently completed Versatile Time Domain Electro-Magnetic (VTEM) Airborne surveys carried out within the Telfer North Super Project (TNSP).
The surveys were focused over previously identified geophysical targets at Radi Hills, Mt Morris, Citadel, Wallal and Yarrie East. The VTEM surveys were conducted through Geotech Airborne Pty Ltd to detect anomalous basement features within the defined target areas.
Initial inspection of preliminary data over the Radi Hills target has revealed a number of anomalous features, including a significant discrete late time response in the south of the survey area (RHEM1) that is partially coincident with a strong magnetic bullseye anomaly as defined in the previous aeromagnetic survey. Additional anomalies include an interpreted strike extensive mid time response on the western margin of the target coincident magnetic/gravity anomaly (RHEM2), a discrete early to mid time response in the central north of the survey (RHEM3).
The southern anomaly (RHEM1) is a discrete late time response approximately 1km across that is believed to represent a basement conductor as it is only evident in the late time BField channels.
Final data is expected to be received within a few weeks, where further work including processing and depth modelling will be conducted to further examine the data and refine drillhole locations.
Inspection of preliminary VTEM data from the other target areas (Mt Morris, Citadel, Wallal and Yarrie East) is currently being conducted by the company's Geophysical Consultants "Core Geophysics" and initial results are expected shortly.
The company has recently completed Aboriginal heritage clearance surveys of all target areas at Telfer North Super Projects successfully and drilling is planned to commence in late June 2011.
For the complete Venus Metals announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/542656.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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