Venus Metals has unearthed five new electromagnetic targets following its recent high-powered geophysical survey as the company steps up its nickel-PGE hunt in the mineral rich Youanmi terrane. The anomalies were spotted at Venus’ new Vidure South prospect where historical drilling has returned tantalising grades of nickel and platinum group elements with the company yet to tap into the deeper source of this elusive sulphide mineralisation.
The successful survey was completed over approximately three square kilometres with two of the five identified anomalies presenting as priority targets kicking at more than 7,000 siemens which is the expected response from a nickel-PGE sulphide lode.
The two priority targets at Vidure South include the A1C1 anomaly in the northern survey area. Expert geophysical consultants, Southern Geoscience have identified a sizeable bedrock anomaly at A1C1, with modelling showing the target to stretch over more than 800 metres of strike. The core of the anomaly measures 200m by 120m and dips steeply to the east.
Whilst there is little historical drilling in the vicinity of A1C1, a drill hole positioned 100m away and dating back to 2005 returned anomalous base metal values, which appears to add further weigh to the target. Adding to its allure, the A1C1 anomaly sits only 70m below surface.
The secondary target at Vidure South is coined A2C1 and sits around 1.5km to the east of A1C1. The anomaly was initially identified through an airborne geophysical survey with the recent ground EM validating the target. Modelling shows the prospective nickel sulphide target extends over 200m of strike and sits nearby an interpreted intrusive mafic-ultramafic body – a text-book location for a Julimar or Mawson-style nickel-PGE target.
Interestingly Venus’ 2019 drilling program, which was designed to test a geochemical anomaly that coincidentally extends across the A2C1 target area, appears to have bracketed the EM target and returned anomalous nickel and PGE mineralisation. Intercepts from the drilling include an impressive 38m intercept grading 0.78 grams per tonne platinum and palladium from 20m with a second interval tipping the scales at 12m at 1.32 g/t platinum and palladium with 0.37 per cent nickel from only 45m down-hole.
An interpretation of the drilling surrounding the A2C1 anomaly indicates both holes are “off-target” however they do demonstrate the presence of an envelope of anomalous nickel-PGE mineralisation surrounding the inferred sulphide lode. This realisation appears to have left the company champing at the bit as it designs a detailed drilling program to test these new anomalies.
Venus is also racking up a string of other successes along the Youanmi gold trend. Recent drilling of the Junction target, which lies below the southern end of the main Youanmi open pit, continues to return intercepts of high-grade gold, including 4m at 17.5 g/t gold from 259m and 3m at 8.0 g/t gold from 194m down-hole.
Curiously, a further drill hole finished in mineralisation, returning 3m at 7.1 g/t gold from 243m demonstrating that the mineralised system continues at depth. This drill hole will be deepened as part of the company’s ongoing diamond drilling program across the Youanmi Shear as it continues to drill up a wealth of resources with plans a move into production in the years ahead.
The company’s Youanmi project is located 480km north of Perth and covers more than 350 square kilometres of the gold and base metal-bearing terrane. The tenure is held under a joint venture, or “JV” between Venus and Rox Resources, with Rox holding a holding 70 per cent position and managing the exploration and development of the gold project.
Historically, the Youanmi region has produced over 667,000 ounces of gold and also hosts a number of interesting base metal discoveries which have yet to be advanced towards production. These discoveries include Venus’ massive Pincher Well Zinc deposit which lies to the north of Vidure and boasts an exploration target of 15 to 20 million tonnes at between 2 and 8 per cent zinc.
The Youanmi terrane is proving to be lucrative hunting ground for Venus as it continues to serve up high-grade gold intercepts. Encouraged by the feast, the company is now looking to pepper more holes into the ground in weeks ahead at Vidure South and it seems the ASX-listed explorer is a step closer to joining the illustrious ranks of WA’s nickel-PGE developers.
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