Venus Metals Corporation Limited: Shallow Thick Magmatic PGE Drill Intersection at Youanmi
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) is pleased to announce the results of reverse circulation (RC) drilling from its Base Metals- PGE Project at the Vidure Prospect (E57/1011 -Venus 90%) and the Vidure South Prospect (E57/1019- Venus 100%) and P57/1365 (Venus 90%) targeting magmatic Palladium-Platinum-Gold-Copper-Nickel (PGE-Au-Cu-Ni) mineralization (Figure 1*).HIGHLIGHTS:
- Recent drilling of RC hole VMC023 in the southern part of the Youanmi Igneous Complex confirms the presence of PGE mineralization in fresh ultramafic rock and extends the PGE-base metals mineralization previously intersected in VDRC003 (refer ASX release 29 Nov 2019).
- Best intersections in VMC023 include:
30m @ 0.95 g/t Pt+Pd+Au & 0.22% Cu & 0.24% Ni from 40m including
11m @ 1.12 g/t Pt+Pd+Au & 0.18% Cu & 0.26% Ni from 52m and
3m @ 1.64 g/t Pt+Pd+Au & 0.32% Cu & 0.42% Ni from 66m.
- The PGE mineralization remains open at depth (Figure 2A) and along strike; grades appear to increase with depth.
- Previous RC hole VDRC003 intersected 38m @ 0.78 g/t Pt+Pd from 20m depth including 12m @ 1.32 g/t Pt+Pd, 0.20% Cu and 0.37% Ni from 45m (refer ASX release 29 Nov 2019) and is located near a strong historical Pt-Pd auger anomaly (Figure 2B*) that measures c. 300x400m (refer ASX releases 25 January 2021).
FUTURE WORK:
- The Company is planning further immediate RC drilling that will target the Vidure PGE-Cu-Ni mineralization at depth beneath VMC023 and along strike to the north and to the south.
- A comprehensive review of all historical geophysical data in the project area by Southern Geoscience Consultants is in progress and is anticipated to be received shortly.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5T5PSE2J
About Venus Metals Corporation Limited:
Venus Metals Corporation Ltd. (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.
Source:
Venus Metals Corporation Ltd.
Contact:
Matt Hogan Managing Director Venus Metals Corporation Ltd. Tel: +61 8 9321 7541