Venus Metals completes geochemistry survey at newly-granted Mangaroon North tenements
Venus Metals Corporation collected 1,500 soil and 58 rock chip samples from the Mangaroon North project area, which is believed prospective for nickel, copper, platinum, palladium, gold and rare earths.
Perth-based explorer Venus Metals Corporation (ASX: VMC) has completed a regional geochemistry survey at the Mangaroon North polymetallic project in Western Australia’s Gascoyne region.
The survey comprised 1500 soil samples collected from across the project, including new tenements granted in July over a total of 546 square kilometres in an area prospective for nickel, copper, platinum, palladium, gold and rare earth elements.
Approximately 58 rock chip samples were also collected from gossanous outcrops, pegmatites and quartz veins, and will be analysed for platinum group elements, gold, rare earth elements and a lithium-caesium-tantalum-niobium suite.
Two of Venus’ tenements at Mangaroon North abut the Mangaroon project owned by Dreadnought Resources (ASX: DRE) and First Quantum Minerals, targeting magmatic nickel-copper-platinum-palladium mineralisation associated with the mafic-ultramafic Money Intrusion and the Lumpy’s Find prospect.
Dreadnought recently identified gossanous outcrop over a 1 kilometre strike at Bookathanna Bore in the northern part of the Money Intrusion with significant rock chip results of up to 1.0% copper, 0.6% nickel, 0.04% cobalt and 0.3g/t platinum-palladium-gold.
The outcrop is located approximately 3km east from one of Venus’ tenements.
Tenement composition
Venus’ Mangaroon North tenements are reported to contain several northwest trending Narimbunna igneous intrusives (dolerite and gabbro sills) and north-northeast trending Mundine Well dolerites, dykes, sills and small intrusions.
These are considered highly-prospective for magmatic nickel-copper-platinum-palladium mineralisation similar to the Money Intrusion (Mundine dolerite) at Lumpy’s Find and more recently, at Bookathanna.
The tenements are also considered prospective for gold mineralisation along strike of the historic and high-grade Star of Mangaroon underground gold mine, at structural targets along shear and fault zones that transect the tenements and along strike of historical gold workings.
During most of the Gascoyne’s early history, there was no government support for prospecting or exploration, resulting in the Mangaroon region remaining vastly underexplored.
Based on the results of its initial sampling program at Mangaroon North, Venus said it would prioritise potential target areas for detailed follow-up sampling, ground geophysical surveys and drilling.