Venus uncovers WA rare earth anomalies

Venus Metals Corporation has uncovered anomalous rare earth, gold and palladium mineralisation at its Mangaroon North project abutting Dreadnought’s prospective nickel-copper-PGE rich tenure in the Gascoyne region of Western Australia. Initial geochemical reconnaissance surveying has outlined multiple target areas that Venus is planning to extensively explore through geochemical sampling, geophysical surveying and drill testing during 2022.

Notable soil sampling results include total rare earth oxide concentrations of up to 1611 parts per million and anomalous neodymium concentrations up to 316 ppm. The anomalous rare earth mineralisation intercepted indicates a possible extension to the Yangibana rare earth carbonatite field that hosts several rare earth deposits.

The Yangibana project contains a rare earth element resource totalling 16.7 million tonnes grading 0.95 per cent total rare earth element oxides and is located 50 kilometres east-southeast of Venus’ Mangaroon North tenements.

The company’s recent geochemical program totalled 1477 soil samples and 58 rock chip samples including reanalysis of 66 samples to target rare earths.

The preliminary rare earth results encountered by Venus are considered significant in view of Dreadnought Resources’ carbonatite intrusions along the Lyon’s River fault nearby.

Carbonatites are a rare type of igneous rock with greater than 50 per cent primary carbonate minerals and generally contain the highest concentrations of rare earths of any igneous rock.

Anomalous palladium in soil concentrations were also noted with assays returning up to 21 parts per billion that Venus interprets to be associated with a northwest trending shear zone within the Mangaroon project area.

Strong gold anomalies were also picked up at Mangaroon grading up to 429 ppb gold that Venus says are also possibly associated with the northwest trending shear zone.

Follow up work is now in planning to further refine the geological picture at the Mangaroon North project including an airborne photographic and magnetic survey that aims to identify potential carbonatite intrusions.

Other follow up work planned for Mangaroon in the first quarter of 2021 includes geochemical surveying to better define rare earth, gold and palladium targets and an air core drilling campaign across the identified high-priority targets.

Venus is set to burst into action on the rare earth front when the new year ticks over with exploration of its Mangaroon projects coming into focus alongside its growing Youanmi joint venture gold project that keeps kicking goals.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au