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Venus Metals Corporation Ltd.
Summary
| Project: | Youanmi | |
|---|---|---|
| Deposit: | Vidure | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Platinum-Palladium | |
| Date: | 11/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-11-2019: Venus Metals Corporation Ltd. announces an Exploration/Drilling Update report for its Vidure deposit at the Youanmi project. Drilling results incl. 38m @ 0.78g/t PGE, 0.16% Cu, 0.25% Ni from 20m. Venus Metals Corporation Limited (VMC) is pleas | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: F. Vanderhor (Internal) | |
| ABSTRACT: | Venus Metals Corporation Limited (VMC) is pleased to announce the first results of the Phase 1 drilling program at the Vidure Copper-Nickel-PGE Prospect, Youanmi Base Metals Project (E57/1011). The drilling program consisted of four inclined RC holes (VDRC001-VDRC004) that partially tested four recently identified Electromagnetic (EM) targets near the historical Vidure prospect (refer ASX Release 23 October 2019). The Vidure prospect is part of the Company's Youanmi Base Metals Project and is within the Youanmi tenement holdings (Figure 1). The Youanmi area includes a variety of mineralisation styles and commodities including gold, silver, zinc-copper, titanium-vanadium, lithium, and nickel-copper-PGEs. The base metals project on E57/1011 is 90% owned by Venus with the remaining 10% owned by the Prospector. The Vidure prospect was identified in the 1970’s as a Ni-Cu-PGE surface geochemical anomaly located on the southern margin of the Youanmi layered mafic intrusion. Subsequent exploration identified a second style of Cu-Ni-Ag mineralization with no clear surface expression at Vidure West (Figure 2). Base metals mineralisation was first identified at Vidure West by WMC in 1973 in the historical diamond hole MYDD0041 (WMC 1973) with a 1.22m intersection of massive sulphides with 2.2% Ni and 0.14% Cu from 135m. In 1985, BHP drilled a hole nearby, PW00762 and encountered 8m @ 1.47% Cu, 0.13%Ni and 5 g/t Ag from 120.5m, including 0.71m @ 7.01% Cu, 0.8% Ni and 21 g/t Ag from 122.35m (refer VMC ASX releases 2 November 2015 & 11 December 2015). | |
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