Venus Metals Corporation Limited Commences Drilling at Radi Hills Prospect Within Telfer North Super Gold Project
13.07.2011 | ABN Newswire
10:58 AEST July 13, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Venus Metals Corporation Limited (ASX: VMC) are pleased to advise that RC drilling for pre-collaring has commenced at the Radi Hills Prospect, Telfer North Super Gold Project.
Eight drillhole locations have been selected covering approximately 2.5 km strike length and 1 km wide areas in significant conductive anomalies identified by the recently completed VTEM survey and are coincident to 5mGal gravity and magnetic anomalies.
A diamond rig is schedule to arrive on site to commence the diamond drilling tails on the 20th July 2011.
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:
Matthew Hogan
Managing Director
Ph: +61-8-9321-7541
Barry Fehlberg
Expert Exploration Advisor
Ph: +61-8-9321-7541
http://www.venusmetals.com.au