Venus Metals Corporation Limited: Marvel Loch East Rare Earth Project
30.09.2022 | ABN Newswire
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) is pleased to announce the results of reconnaissance soil and laterite sampling programs on its tenement E15/1796 (in the name of Redscope Enterprises Pty Ltd, a wholly owned subsidiary of Venus) located ~60 km east of Marvel Loch.HIGHLIGHTS:
- Soil samples (UltraFine(TM)) contain up to 6,092 ppm TREO (total rare earth oxide), including 702 ppm Nd2O3 on and adjacent to bedrock.
- Monzogranite bedrock is enriched in rare earth elements (REEs).
- The analytical results define REE anomalies in soil, laterite, and rock chips(both from Venus and the Geological Survey of Western Australia (GSWA)) along the ~25 km strike length of the arcuate aeromagnetic high and suggest the presence of REE-rich bedrock associated with the prominent magnetic features.
- Historical RAB and AC drilling in E15/1796 indicates the residual weathering profile is preserved between areas of monzogranite outcrop to depths of up to ~40 m.
- Shallow AC drilling is planned targeting residual clay zones on REE-rich bedrock to test for clay-hosted REE mineralisation.
Venus MD, Matthew Hogan, comments: "The REE analyses of up to 6,092 ppm TREO in soil are exceptional and highly significant, especially when considering they are discovered in an area that has a 25 km aeromagnetic high with associated REE-enriched monzogranite bedrock."
*To view project background and figures, please visit:
https://abnnewswire.net/lnk/227IP96J
About Venus Metals Corporation Limited:
Venus Metals Corporation Ltd. (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.
Source:
Venus Metals Corporation Ltd.
Contact:
Matt Hogan Managing Director Venus Metals Corporation Ltd. Tel: +61 8 9321 7541