Venus Metals Corporation Limited - Identified Massive Sulphide Targets For Telfer North Super Project At Yarrie East
02.02.2011 | ABN Newswire
10:24 AEST Feb 2, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Venus Metals Corporation Limited (ASX: VMC) is pleased to announce that recently completed geophysical surveys (aeromagnetic and gravity) over the Yarrie East project area in the Telfer North Super Project Area have been interpreted by Geophysical consultants Resource Potentials. From the geophysical data they have identified a number of north-northwest trending en-echelon responses, some that are coincident with gravity anomalies. Resource Potentials believe the anomalies represent layered ultramafic and are considered prospective for Cu/Ni/PGE massive sulphides.
Drilling at Yarrie East will be carried out in conjunction with the 2011 drilling programmes already scheduled for the other exciting targets previously announced at the Telfer North Super Projects including
- \'Bullseye\' 5mGal gravity anomaly of Radi Hills (refer ASX release 19th August 2010)
- Three discrete 2mGal gravity highs at Mt Morris (refer ASX release 18th October 2010)
- Two Telfer Dome structural \'look-alikes\' at Citadel (refer ASX release 10th August 2010).
For the complete Venus Metals Corporation Limited announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/65130-ASX-VMC-527428.pdf
About Venus Metals Corporation Limited:
Venus Metals Corporation Limited (ASX:VMC) current projects consist of the Yalgoo Iron Ore Project which is located within the Murchison mid west region of Western Australia which is an emerging multi-billion dollar Chinese and Japanese iron ore investment province. The Yalgoo Project is subject to a formal farm-in agreement with HD Mining & Investment, a subsidiary of Shandong Provincial Bureau or Geology & Mineral Resources (SDGM) involving an $8m sole spend by HD Mining to earn a 50% interest in the Iron Ore Project. Once the joint venture is formed if Venus Metals elects not to contribute it will receive a 4.5% gross iron ore royalty from any production from the Yalgoo Iron Ore Project.
The company also has 3 super projects being Argyle North, Telfer North and Tropicana East projects. The focus of the super projects is for the discovery of world class deposits within concealed parts of the lower proterozoic orogenic belts which host the majority of Australia's giant ore bodies including Argyle (diamonds), Telfer (gold), Olympic Dam (iron oxide copper gold), Broken Hill (base metals) and Mt Isa (base metals, IOCG).
Contact:
Venus Metals Corporation Limited
Matthew Hogan
Managing Director
Ph: +61-8-9321-7541
http://www.venusmetals.com.au