Venus Metals drill results indicate strong gold and base metals mineralisation at Pincher Well

Venus Metals Corporation’s (ASX: VMC) latest results from its recent reverse circulation drilling programs at the Pincher Well zinc-copper prospect confirm strong gold mineralisation was encountered at Linda Gossan.

Drilling at Linda Gossan intercepted 9m at 15.6 grams per tonne gold from surface, including 3m at 35.2g/t gold from 1m.

The Perth-based company also revealed base metals mineralisation was extended at conductor PCW03, and at an IP anomaly south of Pincher North Dome.

Venus’ drilling also tested EM and IP targets at the Pincher Dome volcanogenic massive sulphide (VMS) system, containing a number of known zinc and copper prospects, which weren’t previously fully tested.

A historical strong induced polarisation (IP) anomaly was tested south of where high-grade zinc mineralisation was previously intercepted of 10m at 7.31% zinc from 52m including 6m at 9.5% zinc from 55m.

RC drilling along two east-west traverses intersected 20m at 1.2% zinc, 0.38% lead and 0.17g/t gold from 68m.

The company says the results highlight the prospectivity of the Pincher VMS system.

Further base metal mineralisation

Venus tested the historical electromagnetic (EM) conductor PWC03, which was roughly 60m along strike south of previous drilling.

Hole VMC036 revealed sulphide mineralisation at depths of between 124m and 144m, at the location of the modelled EM conductor plate.

The sulphide mineralisation returned was 12m at 2.22% zinc, 0.15% copper and 0.1g/t gold from 128m.

Venus tested PWC12, a historical EM conductor, through three holes VMC037, VMC038 and VMC040, with the holes intersecting steeply west dipping sulphide mineralisation between 80-120m vertical depth.

The best zinc interval was found in hole VMC037 was 4m at 0.94% zinc from 96m.

Venus aims to carry out follow up RC drilling and field investigations at Linda Gossan in an effort to target high grade gold mineralisation.

Also, the company plans to extend two of the recent RC holes and enable down hole EM surveying at the IP anomaly south of the Pincher North Dome.

Pincher Well forms part of Venus’ 100% owned Youanmi base metals project in Western Australia’s goldfields.

Henderson lithium-gold-nickel project

Venus has also received results from drilling at its Henderson lithium-gold-nickel project, in the goldfields.

Venus’ tenement E30/520 spans across roughly 25km strike length of the Mt Ida/Ularring Greenstone Belt, and the company’s exploration efforts have shown a number of outcropping lithium-caesium-tantalum pegmatite clusters  over 20km of strike.

Phase two RC drilling at Henderson comprised 31 holes for 2,834m to test the outcropping pegmatites at the Snake Hill, Emerald SE and Emerald South prospects.

The Emerald SE stands out as an area of interest for Venus, as it has previously shown a relatively high density of outcropping pegmatites with lithium concentrations over 100 parts per million lithium, which includes a maximum assay of 5.8% lithium.

The RC drilling also showed a common gentle dip for the main pegmatite bodies at the Emerald SE area with individual pegmatites varying in thickness between 1m and 12m.

Notable lithium assays from pegmatite were 1m at 2,330ppm lithium and 1m at 1,363ppm lithium.

RC drilling also tested gold anomalies indicated from phase one AC drilling at Henderson South and Emerald South, as well as 0.25ppm gold surface rock anomaly discovered in the Ida Fault Zone at the Snake Hill target area.

Best gold results were 4m at 0.36ppm gold from 24m at Snake Hill, and 4m at 0.34ppm gold from 76m at Henderson South.