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Venus Metals Corporation Limited (VMC.AX) Mangaroon North Ni-Cu-Pt-Pd-Au Project
Perth, Australia (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) is pleased to an...
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"Venus Metals Corporation Limited (VMC.AX) Mangaroon North Ni-Cu-Pt-Pd-Au Project\n \n Perth, Australia (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the recent grant of the exploration licence (EL) 09/2422. This EL and three additional EL applications are in the name of Redscope Enterprises Pty Ltd, a wholly owned subsidiary of Venus, and cover a total of 546 km2 (Figure 1*) in an area prospective for Ni-Cu-Pt-Pd, Au and Rare Earth Elements (REE) in the Gascoyne Region of Western Australia.\n \n \n MANGAROON NORTH Ni-Cu-Pt-Pd-Au PROJECT:\n \n \n - The tenements E09/2422 and ELA 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 (Figure 1*) targeting magmatic Ni-Cu-Pt-Pd mineralization associated with the mafic-ultramafic Money Intrusion (refer DRE ASX release 15 March 2021). FQM can earn a 51% interest initially in the Mangaroon project by spending $15M on exploration (refer DRE ASX release 7 April 2021).\n \n \n - 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' ELA 08/3229) (Figure 2*).\n \n \n - Within Venus' E09/2422 and ELA 08/3229, several northwest trending Narimbunna igneous intrusives (dolerite and gabbro sills) and northnortheast trending Mundine Well dolerites, dykes, sills and small intrusions are considered highly prospective for magmatic Ni-Cu-Pt-Pd mineralization similar to that discovered in the Money Intrusion (Mundine dolerite).\n \n \n - E09/2422 and ELA 08/3229 are also considered prospective for gold mineralization along strike of the historical high-grade Star of Mangaroon gold mine and at structural targets along several shear and fault zones that transect the tenements (Figure 3*).\n \n \n - Initial field mapping, rock chip sampling and geochemical surveys on the granted EL09/2422 will target potential Ni-Cu-Pt-Pd mineralization associated with mafic intrusives identified from DMIRS geological maps and geophysical data.\n \n \n YANGIBANA NORTH RARE EARTHS PROJECT:\n \n \n Two recent applications, ELA08/3375 and ELA09...