Venus Metals Corporation Limited Stock Market Press Releases and Company Profile
Quarterly Activity and Cashflow Report
Quarterly Activity and Cashflow Report

Sydney, Jan 27, 2012 AEST (ABN Newswire) - Venus Metals Corporation Limited's (googlechartASX:VMC) exploration activities conducted during the quarter ending 31 December 2011 were mainly focused on soil sampling and assaying at Yalgoo Iron Ore Project, successful commissioning of the diamond processing plant at the Argyle Smoke Creek Alluvial Diamond Project and a reconnaissance drilling programme at Bassit Bore Prospect.

EXPLORATION HIGHLIGHTS:

1. YALGOO IRON ORE PROJECT:

- - To augment the magnetite mineral resources at Yalgoo, seven reconnaissance RC holes were drilled within E59/1504 (north of Bilberatha Hill) for a total of 1,086m during the last quarter. The total thickness* of BIF (Banded Iron Formation) layers ranges between 6m and 29m with average Fe values varies from 25-32.7% were encountered in these drill holes. Further drilling is planned.

- - 54 soil samples on a 35x50m grid were collected in P59/1887 and assayed for precious metals. Anomalous Ag values (1-3.2 g/t) warrant follow up work.

2. ARGYLE SMOKE CREEK ALLUVIAL DIAMOND PROJECT:

- - Successful commissioning of the Diamond Processing Plant at its Argyle Smoke Creek Alluvial Diamond Project. Stockpiles of diamondiferous gravels over 6,000 tonnes have been prepared and located at the processing plant in readiness for treatment.

- - Mining Lease Application (MLA 80/621) covering 12 Prospecting Licenses was submitted to Department of Mines and Petroleum.

3. BASSIT BORE PROSPECT:

- - A total of 132 soil samples on a 20 by 40 meter grid were collected at Bassit Shear and assayed by SGS for Au and other base metals. Gold assay results show a strong correlation with mapped quartz vein outcrops. Values for Cu, Pb, Zn and Ag also reinforce the vein prospectivity.

- - 25 RC holes for a total depth of 1,980 m were completed in Bassit Shear and Kempton Shear areas. Assays are in progress.

- - Further 92 soil samples and 15 rock chips were collected at Eclipse shear zone (north of Bassit shear) and assays are awaited.

4. COPPER HILLS PROJECT:

- - Negotiations with the Western Deserts Land Aboriginal Corporation on behalf of the Martu Native Title Holders resulting in a signed Land Access and Mineral Exploration Agreement.

- - Review of all past exploration results as a first stage evaluation of this intriguing and prospective area.


For the full Quarterly Report please visit:
http://media.abnnewswire.net/media/en/docs/ASX-VMC-575329.pdf


About Venus Metals Corporation Limited

Venus Metals ASX:VMC Company News Releases and Announcements

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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Contact

Venus Metals Corporation Limited
Matthew Hogan
Managing Director
T: +61-8-9321-7541



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