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Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan
Managing Director, Matthew Hogan
Source: Venus Metals
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  • Venus Metals (VMC) has intersected encouraging copper-nickel-platinum group element (PGE) mineralisation at the Vidure Prospect in Western Australia
  • Seven reverse circulation (RC) holes were drilled at Vidure with work successful in extending the shallow PGE mineralisation into fresh ultramafic rock
  • Overall, grades peaked at 1.44g/t platinum, palladium and gold, 0.31 per cent copper and 0.36 per cent nickel
  • The company will now undertake petrology studies, downhole electromagnetic surveys and RC and diamond drilling to further explore the mineralisation
  • Venus closed 12.1 per cent in the green with shares at 18.5 cents

Venus Metals (VMC) has intersected encouraging copper-nickel-platinum group element (PGE) mineralisation at the Vidure Prospect.

The Vidure Prospect is part of the Youanmi PGE-Base Metals Project which lies in Western Australia and is held in joint venture with Rox Resources (RXL).

Seven reverse circulation (RC) holes, for 734 metres, were drilled at Vidure with work successful in extending the shallow PGE mineralisation into fresh ultramafic rock.

Best results include two metres at 1.44 grams of gold, platinum and palladium (g/t), 0.22 per cent copper and 0.35 per cent nickel from 126 metres and six metres at 0.76g/t gold, platinum and palladium, 0.31 per cent copper and 0.36 per cent nickel from 126 metres.

This mineralisation is associated with dispersed sulphides and is believed to dip to the west with an inferred southerly plunge.

The drilling was successful in extending the shallow PGE mineralisation into fresh ultramafic rock along strike and down-dip.

Managing Director Matthew Hogan commented on the results.

“This is a very exciting PGE play in a significant mafic-ultramafic intrusion with promising sulphide mineralisation results,” Mr Hogan said.

“We are engaging a petrology expert so to better understand the mineralisation at Vidure which will assist with targeting the next phase of drilling.”

Venus will now undertake petrology studies on sulphide-mineralised specimens and will be followed by RC and diamond drilling to explore the down-plunge extensions of the mineralisation.

Downhole electromagnetic (DHEM) surveys will also be carried out to test for deep-seated EM conductors that may indicate the presence of sulphides associated with PGE-nickel-copper mineralisation.

Venus closed 12.1 per cent in the green with shares at 18.5 cents.

VMC by the numbers
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