Venus Metals Corporation Limited (ASX:VMC) has confirmed a high-priority REE target area with recent field work and geochemical sampling at Mangaroon North project in Western Australia.
Evaluation of the multiple remaining REE targets will be conducted as part of the next stage of field work.
Highlights
• High-priority REE target area confirmed in permit E08/3229.
• REE anomalies associated with ironstone identified in areas of cover @1848 ppm TREO with 355ppm Nd2O3 ∼one km west off the Edmund Fault.
• Collected 299 soil and 84 rock chip samples, and re-analysed 66 previous soil samples for a full REE suite with up to 2136 ppm TREO and 232ppm Nd2O3 , and 1848 ppm TREO with 355ppm Nd2O3 in the most recent sampling suggest the presence of REE-enriched ironstones along a ∼seven km long northwest trend.
• Soil samples in Pooranoo Metamorphics contain up to 1420 ppm TREO.
• High-priority REE target area delineated in E09/2422.
• Airborne Magnetic surveys completed in E09/2422 in December 2022 and to be flown in E09/2541 prior to planned field reconnaissance and follow-up work.
The recent reconnaissance field sampling programme was completed to test and evaluate high-priority REE targets with emphasis on radiometric thorium (Th) and remote-sensed data band ratio anomalies.
The radiometric anomalies along a ∼seven km long northwest trend in E08/3229 contain up to 2136ppm TREO with 232ppm Nd2O3 in reanalyzed ultrafine soil from previous sampling and 1848ppm TREO with 355ppm Nd2O3 in the most recent sampling.
A TREO anomaly located in the south of E09/2422 has a maximum of 732ppm TREO with 130ppm Nd2O3. Both target areas will be further explored for potential (ferro-) carbonatite mineralisation.
Ironstone outcrops have been identified at several targets in E08/3229 and E09/2422. In some areas, sedimentary lithologies have been ferruginised, whereas in others veins of ironstone breccia crosscut Pimbyana Granite, Poorannoo Metamorphics, or sedimentary rocks of the Edmund Group.
Systematic grid sampling followed by aircore/reverse circulation drilling is planned across selected target areas. The evaluation of multiple other targets identified by RSC is scheduled to recommence in the coming field season.
Current work – geophysical surveys
An aeromagnetic and radiometric survey over tenement E09/2422 was flown in December 2022 with a line spacing of 50m. Detailed interpretation and assessment of ironstones and further REE targets is pending. The scheduled aeromagnetic and radiometric survey with a 50m line spacing on tenement E09/2541 will help to define new target areas in this underexplored tenement.
Gold, PGE and base metal targets generated from earlier soil sampling will be re-examined using recently acquired remotely sensed and aeromagnetic data to prioritise targets for follow up work as part of the next phase of fieldwork.
In particular, work will focus on areas surrounding the Star of Mangaroon Gold Mine, which is ∼1.5km away from E09/2422 and was recently acquired by Dreadnought Resources Ltd.
For further information please visit: https://www.venusmetals.com.au/
