Venus Metals reports ‘highly prospective’ platinum group elements mineralisation at Vidure South

Following up drill results from more than 13 years ago along with more recent ones, Venus Metals (ASX: VMC) has now confirmed what it calls “highly prospective” magmatic platinum group elements (PGE) mineralisation at its Vidure South prospect, part of the company’s ground within the Youanmi complex of Western Australia.

The confirmation follows recent reverse circulation (RC) drilling in the southern part of the Youanmi igneous complex combined with historical data.

Together, these outline extensive PGE and base metals mineralised areas in mafic-ultramafic rocks.

The historical results were achieved between 2003 and 2007 by the former Ellendale Resources which specifically targeted PGE associated with base metal sulphide mineralisation.

Julimar discovery highlighted Yilgarn potential

According to Venus, the recent discovery of PGE-nickel-copper-cobalt-gold at the Gonneville Intrustion, part of the Julimar complex, by Chalice Mining (ASX: CHN) has highlighted the potential of mafic-ultramafic intrusions in the Yilgarn Craton to host high-grade PGE mineralisation associated with base metals sulphides.

Drilling in 2019 at Vidure intersected 38m at 0.78 grams per tonne of platinum and palladium from 20m down hole, including 12m at 1.32g/t along with 0.2% copper and 0.37% nickel.

That hole was located near a strong historical palladium auger anomaly (up to 0.7g/t) covering 300m by 400m.

At the Malbec prospect, a historical hole hit 7m at 1.44g/t platinum and palladium along with 0.97% nickel and 0.49% copper.

A recently drilled hole at the Malbec-Sauvignon prospect intersected two 4m zones — the first returning 0.55% nickel, 0.17% copper and 0.15g/t platinum + palladium, the other 0.44% nickel, 0.23% copper and 0.33g/t platinum and palladium.

Venus reported that RC drilling at Vidure South to test modelled conductor plates hit 11m at 0.4% copper and 0.2% nickel in one hole, including 1m at 0.88% copper.

Another drill hole intersected 11m at 0.3% copper and 0.1% nickel with anomalous platinum and palladium.

Comprehensive future work program

Venus now plans ground geophysical surveys followed by an RC and diamond drilling program which will target PGE mineralisation along strike and down dip from intersections identified in recent and historical drilling.

The company will also carry out a comprehensive review of all historical geophysical data.

In addition, down hole electromagnetic surveys will target potential PGE-copper-nickel-cobalt sulphides at depth.