Venus Metals Corporation Limited: Quarterly Report
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) provides the Company's Quarterly Report for the period ending 30th September 2018.Venus Metals Corporation Ltd.'s activities conducted during the quarter ending 30th September 2018 includes:
YOUANMI VANADIUM PROJECT: Major metallurgical breakthrough in regards to proof-ofconcept metallurgical leaching test work.
- A major breakthrough was achieved by proof-of-concept metallurgical leaching test work on oxide ores. The unique Youanmi vanadium oxide ore is characterized by high recoveries of vanadium (together with co-extraction of nickel, copper and cobalt) through simple atmospheric sulphuric acid leaching. This process makes bulk mining and acid leach processing an attractive development path for initial scoping study work.
- The initial beneficiation test work results confirm significant high-grade beneficiation of oxide samples with a grade increase from 0.58% V2O5 to 0.80% V2O5 and a recovery close to 80% of the vanadium.
- A 6000m RC drilling programme is scheduled to commence in November. This drilling together with historical data will provide information for the calculation of a measured resource, and will be an important step towards advancing to low-cost rapid vanadium production. The drilling will also provide material for advanced metallurgical testing.
GREENBUSHES EAST VMS PROJECT: Several HEM conductors identified
- An Xcite HEM survey flown by NRG at Venus' Greenbushes East project identified several EM conductors that coincide with magnetic anomalies. These targets show similarities with the Thor VMS-style discovery by Venture Minerals Ltd., located southwest and along strike.
- The EM anomalies identified by Venus occur proximal to anomalous historical Zn and Cu geochemistry and a historical gravity high.
YOUANMI LITHIUM PROJECT: Venus aligns with Lepidico Ltd. (ASX:LPD)
Lepidico has completed 38 holes for 936m of RC drilling at 3 lepidolite targets in the northern half of E57/983. The drilling confirmed the presence of lepidolite-bearing pegmatites; assays are pending.
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About Venus Metals Corporation Limited:
Venus Metals Corporation Ltd. (ASX:VMC) holds a significant and wide ranging portfolio of Australian base and precious metals exploration projects comprising lithium, cobalt, vanadium, copper, zinc, nickel, gold and platinum group of elements.
Key project areas in Western Australia include:
- Pincher Well Zinc-Copper Project (Youanmi): Over 5 km of under explored VMS trend with an Exploration Target of 15-20 Million Tonnes@ 2-8% Zinc,which also hosts a number of high grade lodes (>10% Zinc).
- Currans Well Cobalt-Nickel-Copper Project (Youanmi): Significant Cobalt mineralisation up to 1483 ppm Co in historical drilling. Extensive Lateritic Duricrust Co-Ni target areas identified.
- Curara Well Nickel-Copper-Gold Project (Doolgunna):10 km northeast of Sandfire Resources DeGrussa Copper Mine. Wide intercepts of disseminated Nickel Sulphides (Millerites) in Ultramafics.
- Southern Cross Vanadium Project (Youanmi): JORC 2012 Inferred Vanadium Mineral Resource of 167.7 Millions Tonnes @ 0.41% V2O5, 7.52% TiO2.
- Strategic Lithium-Tantalum Projects in WA.
Source:
Venus Metals Corporation Ltd.
Contact:
Matthew Hogan Managing Director T: +61-8-9321-7541 Barry Fehlberg Executive Exploration Director T: +61-8-9321-7541