Historical Data Analysis Is Underway
Venus Metals Corporation Limited (ASX:VMC) has obtained promising results from high-powered ground-geophysical surveys at the company’s Youanmi PGE-Base Metals Project in Western Australia.
The survey targeted electromagnetic (EM) anomalies in the southernmost part of the Youanmi Igneous Complex associated with conductive sulphides potentially hosting Ni-Cu-PGE mineralisation.
HIGHLIGHTS:
A moving loop EM survey detected five EM anomalies of which two are strong EM conductors. These conductors are both modelled as highly conductive (7000 and 5000 Siemens (S)) which is prospective for massive sulphide mineralisation:
- A large bedrock conductor (200m by 120m) is located approximately 70m below surface with a conductance of around 7000 Siemens (S) and dipping steeply to the east. The model dimensions are representing the most conductive part of a much larger bedrock conductor (A1C1) response that extends over 800m strike length;
- A single historical hole, CNRC021 (Ellendale 2005), located approximately 100m north of the new conductor model shows anomalous base metal values; no downhole EM data is available, and drilling of this highly prospective conductor is planned.
- Another strong EM conductor (A2C1) dipping moderately to the northwest with a conductance of 5000 Sis located at Vidure South Prospect. The conductor was previously identified by a Heli-borne EM survey. A follow-up fixed loop EM (FLEM) survey across the A2C1 conductor refined its orientation and position.
Recent reverse circulation (RC) drilling at Vidure South intersected highly anomalous base metals mineralization associated with anomalous PGE in fresh rock in hole VMC018. The interpretation of the new FLEM data indicates that VMC018 did not intersect the modelled main conductor which therefore remains a high-priority drill target.
An RC/DD drilling programme designed to test the well-defined high- priority EM conductors (A1C1 and A2C1) is imminent. Drilling is also planned to test potential bedrock extensions of historical PGE-rich zones at Vidure Prospect.
The aim of the most recent ground MLEM and FLEM surveys was to detect EM anomalies associated with conductive sulphide mineralisation associated with Ni-Cu PGE sulphide or VMS-style mineralisation south of Vidure Prospect (Areas 1 and 2), covering the interpreted lowermost part of the Youanmi Intrusive Complex. A single MLEM line tested a base metals anomaly in previous AC drilling for potential bedrock-hosted massive sulphide along the Youanmi Shear Zone (Area 3).
The ground EM surveys were completed in three priority target areas; infill FLEM surveying was carried out over a selected target in Area 2. A total of 125 stations of moving-loop EM (MLEM) data were collected using 200m line spacing and 100m station spacing for a total of 11.4 line km. A further 64 stations of infill fixed-loop EM (FLEM) data were collected over 1.6 line km.
Base metals mineralisation was first identified at Vidure by WMC in the historical diamond hole MYDD0041 (WMC 1973) with a 1.22m intersection of massive sulphides with 2.2% Ni and 0.14% Cu from 135m. In 1985, BHP drilled a hole nearby, PW00762 and encountered 8m @ 1.47% Cu, 0.13%Ni and 5 g/t Ag from 120.5m, including 0.71m @ 7.01% Cu, 0.8% Ni and 21 g/t Ag from 122.35m.
A synthesis of historical geophysical data, recent geophysical surveys by Venus and the combined historical and Company drill data base for the Youanmi PGE-base metals prospects by Southern Geoscience Consultants (SGC) is in progress and will assist in identifying potential new targets for base metals – PGE mineralisation.
