HIGHLIGHTS:
- Highly anomalous concentrations in soil with maxima of 63 ppm Ni, 46 ppm Cu, 13 ppb Pt+Pd and 3,169 ppm Cr in the north of the
- PGE - base metal anomalies in soil (same soil fraction as used by Chalice) may indicate mafic-ultramafic bedrock and are highly anomalous* as per regional Julimar data (refer CHN ASX release
- Venus expands landholding with two recent applications - ELA70/5912 and ELA70/5913.
- Systematic soil sampling and geophysical surveys planned upon grant of Venus' extensive tenure of c. 1,000 km2 at Barrabarra North.
Project Background
Venus' Barrabarra North Cu-Ni-PGE project is located in the northwest of the Yilgarn Craton and comprises five exploration licence applications (ELA59/2548, ELA70/5786, ELA70/5787, ELA70/5912 and ELA70/5913) for a total of 986km2 (Figure 2*); it abuts Chalice Mining
The project area falls within the
Venus identified prospective target areas at its
Regional gravity data (Figure 3*) show areas of higher density and regional magnetic imagery shows magnetic features that may be related to mafic-ultramafic intrusives within the granite terrain (Figures 4 and 5*).
Initial field reconnaissance comprised soil and laterite sampling along traverses and at several random locations in two of the northern ELAs (ELA59/2548 and ELA70/5787). Soil samples were taken from c. 0.5m depth and sieved to +1.6 and -5 mm, the same soil fraction used by Chalice for its regional geochemical surveys. According to Chalice "values above 80 ppm Ni, 20 ppm Cu and 5 ppb Pd are considered highly anomalous" in soil (refer CHN ASX release
In ELA 59/2548, a west-northwest trending 1.9 km long soil traverse overlaps the location of YLA laterite sample #101216 (4,400 ppm Cr). The soils show very high Cr concentrations (max. 3,169 ppm) over a 400-500 m interval and highly anomalous Cu concentrations in most samples along the traverse (max. 45.8 ppm Cu) (Figure 4*). Nickel, Pt and Pd are also anomalous with maxima of 63 ppm, 9 ppb and 4 ppb respectively.
In ELA70/5787, soil sampling was completed along an 800 m long traverse (Figure 5) to test anomalous Pt-Pd-Cu concentrations in YLA laterite sample 101358. Two samples at the eastern end of the traverse show highly anomalous Pd (max. 6 ppb) and Cu (max. 42 ppm) and this anomaly remains open to the north, south and east. Laterite samples were taken to verify historical YLA results and to add to the coverage where possible.
Work planned
The Company is very encouraged by the results of this initial reconnaissance field program and is planning to carry out an extensive regional exploration program as soon as possible. This will include systematic soil and laterite sampling across Venus' tenure and ground geophysical surveys targeting potential mafic-ultramafic bodies that may host sulphide mineralization of the Julimar type for drill testing.
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