Five electromagnetic (EM) anomalies have been detected by Venus Metals (ASX: VMC) at its platinum group element (PGE) and base metal project in the Youanmi complex of Western Australia.
A large bedrock conductor, 200m by 120m, is located 70m below surface, representing the most conductive part of a much larger anomaly that extends over 800m of strike length.
Another strong conductor was located at the company’s Vidure South prospect.
Venus is targeting sulphides with the potential to host nickel-copper-PGE mineralisation.
Mineralisation first discovered by WMC in 1973
The company is also planning to drill the site of a single historical hole, completed in 2005 by the former Ellendale Resources, and located 100m north of the new anomaly.
This hole returned base metal values, but no down hole EM data has been found.
Base metal mineralisation was first identified in 1973 at the project by the former major Western Mining Corporation, which sank a diamond drill hole that hit 1.22m at 2.29% nickel and 0.14% copper at 135m from surface.
In 1985 BHP (ASX: BHP) drilled a hole nearby the WMC one and intercepted 8m at 1.47% copper, 0.13% nickel and 5 grams per tonne silver, with a higher grade interval of 0.71m at 7.01% copper, 0.8% nickel and 21g/t silver.
Ellendale explored the prospect between 2003 and 2007 with a focus on PGE.
Most of the PGE anomalies identified were near surface in shallow augur or rotary air blast holes.
Venus says fresh rock intersections from one Ellendale hole and one of its own holes suggests the area may be “highly prospective” for primary magnetic PGE mineralisation.
An “imminent” reverse circulation and diamond drilling program is planned to test the EM conductors.
Drilling is also planned to test bedrock extensions of historical PGE-rich zones at Vidure.
Venus itself drilled the Vidure prospect in 2019 and intersected 38m at 0.78g/t palladium plus platinum (pd+pt), including a 12m interval returning 1.32g/t pd+pd along with 0.2% copper and 0.37% nickel.
The Youanmi PGE-base metals project is located in the southern part of the Youanmi Igneous Complex where several 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.