Pilgangoora Lithium Project Mineralisation at Wodgina South
Recent reconnaissance surface sampling at Wodgina South has returned assays that are highly anomalous in lithium oxide (Li2O).
Venus Metals Corporation Limited ('Venus Metals') has made applications for four tenements (ELA 45/4627. 4630, 4684 & P 45/3004) in the Pilgangoora region, within the Pilbara Craton of Western Australia.
These applications cover over 450 km2 and are located along strike from, or adjacent to, the mining operations at Wodgina Atlas Iron (ASX:AGO) in the south and the Pilbara Mineral's (ASX:PLS) developing operations at Pilgangoora, in the north. The tenement areas contain outcropping pegmatitic stratigraphy, the host rock for lithium-tantalum mineralisation in the region.
The Pilgangoora tenement areas will be explored as part of a memorandum of understanding ('MOU') between Venus Metals and Lithium Australia (ASX:LIT) 1,2 over the region. Recent reconnaissance exploration by Venus Metals is designed to identify targets to expedite exploration in the coming months and to evaluate the overall prospectivity to the project areas.
2.0 Pilgangoora Lithium-Tantalum Project - Update
In recent weeks a program of reconnaissance sampling and mapping has been undertaken through the Pilgangoora application areas in order to:
- Identify prospective pegmatitic stratigraphy and lithium mineralisation,
- Generate targets to expedite exploration following the grant of the tenement areas.
2.1 Wodgina South (ELA 45/4627 & P 45/3004)
Recent reconnaissance sampling across three identified target areas (Figure 4 - T 1, 2 & 3, see link below) has returned a significant number of surface samples hosting anomalous lithium oxide (Li2O) associated with pegmatites and their host stratigraphy.
Results include (Figure 4 & Appendix 1, see link below):
- W114 (T1) - 5296 ppm (0.53%) Li2O & 2997 ppm Rb
- W116 (T1) - 6179 ppm (0.62%) Li2O & 4564 ppm Rb
- W147 (T2) - 6567 ppm (0.66%) Li2O & 3134 ppm Rb
The T1, 2 & 3 targets at Wodgina South occur adjacent to and along strike from Metalicity's target areas within their Stannum project (ELA 45/4677)3,4, which abuts Venus Metals northern tenement boundary. Metalicity's target stratigraphy extends into Venus Metals tenement area, with mineralisation associated with spodumene in pegmatites (Figure 4).
The purpose of the current sampling program at Wodgina South is to highlight target areas for follow up surface and soil sampling in order to delineate areas for future drill testing. It is proposed that these areas of identified pegmatite-hosted lithium mineralisation, both in the Wodgina South and Pilgangoora tenements (Figures 1 & 4), be systematically tested with soil sampling by the Venus Metals/ Lithium Australia 'alliance' once the tenement areas are granted in the coming months.
A full schedule of results from the recently completed surface sampling is available in Appendix 1 of this report (See link below).
The ongoing 'on ground' evaluation of the Wodgina lithium project areas continues to define targets for future exploration in this developing lithium province.
Venus Metals looks forward to further updating shareholders as detailed exploration commences at Wodgina following the grant of the tenement areas in the coming months.
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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
Pilbara Minerals Ltd
Lithium Australia NL
Atlas Iron Limited