Venus Metals firms-up priority drill targets at Marvel Loch project

CBCIE Time:Mar 14, 2023 10:37 Source:smallcaps

Priority drill targets have been firmed up across Venus Metals’ Marvel Loch East rare earths project in Western Australia.

The targets were generated following radiometric and high-resolution aeromagnetic surveys.

This latest high-resolution aeromagnetic survey totalled 9,356-line kilometres and was competed over tenements E15/1796 and ELA 15/1946 to refine previously gathered data.

A review of survey data has identified anomalies that may indicate deep weathering of rare earth element (REE) enriched monzogranite, which could contain clay-hosted REE minerals.

The data also generated magnetic features within a 25km-long trend that suggests bedrock-hosted REE may be present.

An ovoid magnetic feature also was noted that could potentially host bedrock REE. This anomaly has limited outcrop of monzogranite that returned up to 4,365 total rare earth oxides from previous sampling.

In addition to the surveys and rock chip sampling, Venue recently analysed 93 samples of historical drill spoil from the project.

One drill spoil sample returned 3,000ppm TREO in clay mineralisation. ANSTO and ALS are currently carrying out metallurgical testing on 10 of the clay historical drill spoil samples.

Progressing Marvel Loch East

Venus plans to complete aircore drilling across the clay-hosted REE anomalies at the project.

Meanwhile, reverse circulation drilling has been planned to test the bedrock-hosted REE targets.

In readiness for drilling, Venus has applied to Western Australia Government for co-funding under its Exploration Incentive Scheme.

Venus will also undertake further soil and rock chip sampling to test new radiometric anomalies generated from the surveys.

The project covers 828sq km and is about 460km east of the town Marvel Loch in WA.

It comprises one granted exploration licence (E15/1796) and a further four under application.

In addition to Marvel Loch East, Venus has interests in a “wide-ranging” portfolio of exploration projects at various development stages in WA.

The projects are prospective for gold, base metals, REE, vanadium and lithium.

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