News Articles for Venus Metals Corporation

Venus Metals' hunt for lithium at its Penny East project in Western Australia's Mid West region – within ground initially secured for gold and base metals prospectivity – has revealed encouraging soil geochemical results. The company says it identified an anomalous area measuring about 800m by 600m, while a second 800m-wide anomaly is open to the north. Further soil sampling and shallow drilling is planned.

Venus Metals is on a roll with the first drill campaign at its Deep South prospect within its Youanmi project in WA's Murchison hitting lithium paydirt. High-grade lithium pegmatites were intersected at both the East and North zones, with strong tantalum enrichment also recorded. The best grade recorded in the maiden campaign came in at a significant 2.89 per cent lithium oxide.

Venus Metals has kicked off its maiden reverse-circulation drill campaign at its Youanmi lithium project where lithium-bearing pegmatites were recently discovered at its highly-compelling Deep South lithium prospect. The Deep South lithium prospect sits 44km south of the Youanmi Gold Mine, which is about 450km north-east of Perth in Western Australia's rugged Murchison region.

Venus Metals Corporation says it has discovered petalite mineralisation assaying up to 4.6 per cent lithium oxide in multiple pegmatites at its Deep South prospect at Youanmi in Western Australia's Murchison region. Petalite is an important ore mineral of lithium and the new pegmatite discoveries comprise several small outcrops up to about 60m across that are scattered through a 450-square-metre footprint.

Following the sale of its Mt Dimer asset, Aurumin has wasted no time in making good its promise to home in on its Sandstone gold play, with the addition of a new tenement containing three historic gold mines. The mines produced 197 tonnes grading 10.58g/t gold for 67 ounces, 376 tonnes at 27.45g/t for 331 ounces and 82 tonnes at 5.92g/t for 15 ounces, respectively.

Aurum Resources is set to take its gold search to a new continent after signing a binding agreement to acquire PlusOr Global, which holds the rights to earn into the Boundiali gold project in Côte d'Ivoire. The project on the southern coast of West Africa covers two contiguous granted exploration permits within Côte d'Ivoire's prospective Boundiali greenstone belt.

A geochemical sampling program by Venus Metals at the westernmost licences within its Mangaroon North project in Western Australia's emerging Gascoyne region has turned up two base metal anomalies that have been earmarked for further assessment. The company says it took about 1100 soil samples and 39 rock‐chip samples from across two of its tenements during the survey.

Multiple outcropping lithium-caesium-tantalum (LCT) pegmatites carrying high lithium oxide grades of up to 4.6 per cent have been revealed in follow-up mapping and sampling by Venus Metals at its Deep South prospect within its Youanmi lithium project in Western Australia. The company says broad surrounding caesium-tin anomalism is indicative of an extensive and mostly-hidden granitic and pegmatitic late-phase intrusive system.

Aurum Resources is set to launch a maiden 74-hole air-core drilling campaign at its Ryans Find gold project, north-east of Koolyanobbing, after completing trackwork for the rig and a heritage clearance survey. Some 3500m of drilling will be oriented in multiple transects perpendicular to the prospective greenstone belt to follow-up on gold and base metals anomalies observed in soil sampling.

Venus Metals has uncovered two neighbouring pegmatite outcrops, with visible coarse lithium-bearing petalite running up to 4.6 per cent lithium oxide, after completing a field program at its Youanmi project in Western Australia. The program was aimed at discovering the cause of a prominent lithium soil anomaly labelled the “Deep South Target”. Results also revealed a separate assay of 3.26 per cent lithium oxide.

Venus Metals says it has identified a strong lithium anomaly at its Youanmi lithium project in Western Australia's Murchison region that may indicate pegmatite-hosted lithium-caesium-tantalum (LCT) mineralisation. The discovery was made from a reconnaissance soil sampling program in an area not previously explored for LCT mineralisation where several pegmatite outcrops are located.

The Youanmi gold project near Mt Magnet in Western Australia's Murchison region has coughed up more high-grade results to bolster the confidence of Venus Metals and its joint venture (JV) partner Rox Resources in upgrading the project's mineral resource estimate. New highlights include 6.38m going 4.45 grams per tonne gold from 381.84m, including 2.56m at 8.26g/t gold from 381.84m.

Venus Metals has revealed what it believes could be “game-changing” high-grade drill results in its JV with Rox Resources after uncovering the faulted extension of the 4-million-ounce Youanmi gold deposit. The lode-extending discovery hole returned 28m at 34.81 grams per tonne gold, with new drilling 200m further south hitting 5.7m at 8.26g/t gold from 233.3m and 5.08m grading 9.56g/t from 225.8m.

WA's Gascoyne region is emerging as one of the State's newest lithium hotspots with local exploration heavyweights snapping up prime locations in the hunt for valuable EV mineralisation. Delta Lithium hit the headlines last year with its Yinnetharra project and more recently, Minerals 260 crashed the party by grabbing 1700sq km of tenements near Delta's northern lithium project.

Venus Metals and IGO have inked a binding agreement for exploration – and possibly development and extraction – at the pair's Henderson nickel-lithium project in WA's Eastern Goldfields. The deal involves a farm-in and joint venture in which a subsidiary of IGO can progressively acquire up to a 70 per cent interest in the project by spending $4 million on exploration and reimbursing Venus with $1 million.

Junior miner Venus Metals has entered into a joint venture and farm-in deal with IGO Limited for exploration and potential development at its Henderson nickel and lithium project.

Venus Metals Corporation has gained a boost to exploration plans for its Marvel Loch East rare earths project after its subsidiary Redscope Enterprises scored a co-funded drilling grant from the WA Government. The Exploration Incentive Scheme funding will contribute 50 per cent of direct drilling and mobilisation costs, with Redscope successfully applying for a maximum amount of $157,500 to explore the project near Southern Cross.

Venus Metals and joint venture partner, Rox Resources, continue to serve up bumper hits at their Youanmi gold project in WA's Murchison goldfields, with the latest drilling at the Link prospect striking 22m at 6.31 g/t gold. The duo is plunging 24,000m of drilling into the project in a bid to upgrade the current 3.2-million-ounce inferred mineral resource to the higher indicated category.

First-pass shallow RC drilling at Venus Metals' Youanmi lithium project in Western Australia's Murchison region has unearthed pegmatite-hosted LCT mineralisation that the company says remains open at depth and along strike. Lepidolite-bearing pegmatite with up to 2m at 0.33 per cent lithium oxide from 9m was intersected in one hole at the Beryl prospect and Venus has flagged more follow-up drilling.

Airborne magnetic and radiometric surveying at Venus Metals' Mangaroon North rare earths project in WA's Gascoyne region has identified high-priority rare earths carbonatite rock targets along a crustal structure. Eight ironstone-hosted rare earths targets, considered similar to Hastings' Yangibana and Dreadnought's Mangaroon-Yin projects, were identified over a 10km strike by the survey.

Venus Metals Corporation subsidiary Redscope Enterprises will increase its net smelter royalty from the Youanmi Gold Mining leases to one per cent after signing a deal with St Claire Resources. Redscope currently holds a 0.7 per cent net smelter royalty for the Youanmi leases that will increase to one per cent following the completion of the deal with St Clair handing over its 0.3 per cent share.

Venus Metals Corporation and Rox Resources are headed for a mineral resource upgrade at their Youanmi gold project after impressive new drill results, including a 4m hit at 14.85 grams per tonne gold from 298m. The joint venture partners say the high-grade results confirm significant gold endowment at the project that sits about 480km north-east of Perth.

Venus Metals Corporation has upgraded the mineral resource estimate for its Bellchambers gold deposit in WA's Goldfields region with a 35 per cent increase in tonnage and a 40 per cent rise in gold ounces. The updated JORC-compliant resource now sits at 722,000 tonnes at 1.31 grams per tonne gold for a total of 30,500 ounces at a cut-off grade of 0.5g/t gold.

Venus Metals will become a major shareholder in joint venture partner Rox Resources after the companies agreed to consolidate their ownership interests in the greater Youanmi gold project in Western Australia. Shares in Venus jumped more than 20 per cent on the back of the latest announcement to touch 17.5 cents during intraday trading after closing yesterday at 14.5 cents.

A high-resolution aeromagnetic survey has identified high-priority drill targets for clay-hosted and fresh rock rare earths mineralisation at Venus Metals' wholly-owned Marvel Loch East project in WA. Hard rock targets include a 25km long magnetic trend and a 3km zoned magnetic anomaly where previous rock chips up to 4365ppm total rare earths were discovered.

Joint venture partners Venus Metals and Rox Resources have hit bonanza-grade results from an RC hole sunk into their Youanmi South prospect including a 3m intercept at almost five ounces per tonne gold from 218m. The outstanding 138.7 g/t gold hit was contained in a wider 28m segment grading more than an ounce per tonne at 34.81 g/t gold from 204m and includes an 18m section going 51.96 g/t from 207m and 10m at 79.55 g/t from 211m.

Venus Metals has its drill bit spinning again, this time at its historical Bellchambers gold deposit, part of the company's Sandstone project in the WA Goldfields. The campaign follows up a 2020 exploration program that delivered a substantial increase in Bellchambers' JORC-compliant indicated mineral resource. The new work will target structurally controlled gold mineralisation and will test the depth continuation of mineralisation.

Joint venture partners Venus Metals and Rox Resources are continuing to be impressed by their Midway discovery at the duo's Youanmi gold project with the most recent assays from the current drill campaign reporting new thick high-grade gold intercepts. Headline figures include 6.76m at 15.4 grams per tonne gold from 169.1m and 3.73m at 10.25 g/t gold from 405.8m.

Venus Metals Corporation's partner in the East Greenbushes project, IGO Limited, has launched an exploration blitz on its site that sits adjacent to the world-renowned Greenbushes lithium mine. IGO is planning a geochemical survey specifically targeting lithium at the site and expects to take a total of 1350 soil samples at the operation in the South West region of WA.

Venus Metals has launched an RC drilling program at new targets at its wholly owned Youanmi lithium project in WA's Murchison region, about 480km north-east of Perth. The drilling will test recently identified lithium anomalies in soil samples and rock chips for pegmatite-hosted lithium-caesium-tantalum mineralisation in the bedrock. The rock chips returned up to 2.11 per cent lithium oxide.

Venus Metals has received encouraging assays from ongoing geochemical surveys at its Youanmi lithium project in WA's Murchison region including highlighting a new target at the company's Manindi North prospect. The explorer says it received assays of rock chip samples from sub-cropping pegmatites in the area with results of up to 2.11 per cent lithium oxide.

Venus Metals has highlighted a raft of high-priority rare earth targets at its Mangaroon North project in the Gascoyne region of WA following positive results from a recent reconnaissance field sampling program. The explorer collected 299 soil samples and 84 rock chip samples in addition to re-analysing 66 previous soil samples with results showing up to 2136 parts-per-million total rare earth oxides and 232ppm neodymium oxide.

Venus Metals has confirmed the presence of rare earth elements at its Marvel Loch East project with results from rock chip samples returning grades of up to 4365 parts-per-million total rare earth oxides. The company recently collected a total of 38 rock chip samples and 93 historical drill spoil samples from the operation near Southern Cross in the Goldfields region of WA with one spoil sample recording a grade of more than 3000ppm TREO.

The recently released Federal Budget has highlighted the importance of the mining and resources industry to the Australian economy with a particular focus on the critical minerals sector. One of the most important commodities to the current market is lithium due to the importance of the metal to the electric vehicle and battery sector.

Joint venture partners Venus Metals Corporation and Rox Resources have released a scoping study for their Youanmi gold project near Mt Magnet in WA which includes a projected production of 71,000 gold ounces per year. The study predicts the site will be capable of producing about 569,000 gold ounces over an eight-year mine life at an average head grade of 5 grams per tonne gold.

Venus Metals has received positive assay results for a raft of minerals from an RC drill campaign across its Pincher Well zinc-lead-copper-gold prospect including a 3m hit at a whopping 35.2 grams per tonne gold. The outstanding gold intercept was contained in a 9m section going 15.6 g/t gold from surface at Pincher Well that forms part of the company's Youanmi base metals project about 500km north-east of Perth in WA.

Soil and laterite sampling at Venus Metals' Marvel Loch East project have returned “exceptional” results including one sample showing a remarkable 6092 parts-per-million total rare earth oxides. The Marvel Loch East rare earths project is located near Southern Cross in the Goldfields region of WA and comprises one granted exploration licence and an additional four applications for a total tenement area of 828 square kilometres.

Venus Metals Corporation has lit up multiple priority targets using remote sensed data at the company's Mangaroon rare earths project in one of the country's fastest emerging rare earths districts. The company's four tenement package on the edge of WA's Gascoyne region borders significant rare earth ventures held by ASX-listed Hastings Technology Metals, Dreadnought Resources and Lanthanein Resources.

IGO Limited has snapped up an interest in Venus Metals Corporation after acquiring nine million shares in the company and securing an exploration deal at its Bridgetown Greenbushes project in WA's South West region. After spending $2.07 million at 23c per share, IGO will secure a 5.6 per cent stake in Venus, making it a substantial shareholder. The project takes in Venus' Greenbushes East lithium project and its Bridgetown East copper-nickel-PGE project.

Grade control drilling results have shown shallow mineralisation continuity at Venus Metals and Rox Resources' Grace deposit that forms part of the joint venture's Youanmi gold project near Mount Magnet in WA. The partners say the latest results reconcile well with the area's resource model and further de-risk the deposit ahead of commercialisation.