Business
Venus Metals Corporation Limited (VMC.AX) Mangaroon North Ni-Cu-Pt-Pd-Au Exploration Update
Perth, Australia (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) is pleased to pr...
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"Venus Metals Corporation Limited (VMC.AX) Mangaroon North Ni-Cu-Pt-Pd-Au Exploration Update\n \n Perth, Australia (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) is pleased to provide an update on its recent field exploration activities in the Mangaroon North project area that abuts Dreadnought Resources Ltd's (ASX:DRE) tenure (refer ASX release 19 July 2021) in the Gascoyne Region of Western Australia and is prospective for Ni-Cu-Pt-Pd, Au and rare earth mineralization.\n \n \n - An initial soil geochemical survey totalling c. 1,500 samples was completed across E 09/2422, E 08/3229 and ELA 08/3375 (Figure 1*). Samples have been submitted for a multi-element suite with assays pending.\n \n \n - In addition to the soil survey, 58 rock chip samples were collected from gossanous outcrops, pegmatites and quartz veins (Figures 2-4*), and these specimens are being analyzed for a multi-element suite including PGE, Au, REE and Li-Cs-Ta-Nb.\n \n \n The tenements E 09/2422 and E 08/3229 cover a total of 295 km2 and abut Dreadnought Resources Ltd's (ASX:DRE) and First Quantum Minerals Ltd's (TSE:FM) (\"FQM\") Mangaroon Project targeting magmatic Ni-Cu-Pt-Pd mineralization associated with the mafic-ultramafic Money Intrusion (refer DRE ASX releases 15 March 2021 and 7 April 2021) and the Lumpy's Find Prospect. DRE recently identified gossanous outcrop over 1 km strike at Bookathanna Bore in the northern part of the Money Intrusion with significant rock chip results of up to 1.0% Cu, 0.6% Ni, 0.04% Co and 0.3g/t Pt-Pd-Au (refer DRE ASX release 16 July 2021). The outcrop is located approximately 3 km east of Venus' E 08/3229) (Figure 1*).\n \n \n Within Venus' E 09/2422 and E 08/3229, several northwest trending Narimbunna igneous intrusives (dolerite and gabbro sills) and north-northeast trending Mundine Well dolerites, dykes, sills and small intrusions (possibly extending into ELA 08/3375) are considered highly prospective for magmatic Ni-Cu-Pt-Pd mineralization similar to that discovered in the Money Intrusion (Mundine dolerite) at Lumpy's Find and, more recently, at Bookathanna. E 09/2422 and E 08/3229 are also considered prospective for gold mineralization along strike of the historical high-grade Star of Mangaroon gold mine, at structural targets along several shear and fault zones that transect the tenements and along strike...