Venus Metals extends PGE mineralisation at Youanmi project

Venus Metals ASX VMC PGE mineralisation Youanmi project palladium platinum gold copper nickel
Venus Metals is recruiting a petrology expert to better understand Vidure’s mineralisation and help with targeting the next phase of drilling.

Precious and base metals explorer Venus Metals Corporation (ASX: VMC) reports what it calls encouraging platinum group elements (PGE)-copper-nickel hits after drilling seven holes at its Youanmi complex in Western Australia.

The reverse circulation (RC) drilling program at the Vidure prospect, totalling 734m, saw the company successfully extend shallow PGE mineralisation into fresh ultramafic rock of the southern Youanmi igneous complex, along strike and down dip.

Earlier this year Venus reported it had located a strong conductor at the company’s Vidure South prospect.

Venus is targeting conductive sulphides with the potential to host nickel-copper-PGE mineralisation.

‘Exciting’ platinum group elements play

Venus managing director Matthew Hogan said the company is now recruiting a petrology expert to better understand the mineralisation at Vidure. This will help with targeting the next phase of drilling.

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

The intersections reported include Hole 034 returning 7m at 0.8 grams per tonne platinum-palladium-gold, along with 0.14% copper and 0.24% nickel.

Hole 028 assayed over 6m at 0.76g/t platinum-palladium-gold with 0.31% copper and 0.36% nickel.

And Hole 033 returned 3m at 0.83g/t platinum-palladium-gold and 0.14% copper, 0.23% nickel.

All holes included higher grade intervals.

“Importantly, the PGE-copper-nickel mineralisation at Vidure remains open at depth and along strike,” the company noted.

Venus itself drilled the Vidure prospect in 2019 and intersected 38m at 0.78g/t palladium plus platinum, including a 12m interval returning 1.32g/t palladium plus platinum along with 0.2% copper and 0.37% nickel.

Deep drilling now being planned

Venus said it is planning deep (250m to 350m) RC and diamond drilling to test the down-plunge extension of the thick shallow intersections.

The Youanmi PGE-base metals project is located in the southern part of the Youanmi Igneous Complex where several electromagnetic (EM) conductors have been identified by historical and recent drilling.

Drilling of the conductor plates has intersected sulphides, some hosting “significant” copper, nickel and PGE concentrations, the company said earlier this year.

Downhole EM surveys are also planned to test for deep‐seated EM conductors that may indicate the presence of sulphides potentially associated with PGE‐nickel-copper mineralisation, and which may not have been detected by ground geophysical surveys due to potential masking effects by other conductors and cover, the company said.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.