Venus Metals Corporation's (ASX: VMC) focus is to explore for world-class mineral deposits. Twenty one multi-commodity exploration project targets are held within Western Australia and include Iron Ore, Diamonds, Base Metals and Gold.
Venus Metals Corporation (ASX: VMC) has commenced processing of diamondiferous gravels for economic evaluation at the Argyle Smoke Creek Alluvial Diamond Project, adjacent to Rio Tinto’s (ASX: RIO) Argyle Diamond Project.
A bulk sampling and diamond recovery program will be carried out to establish the quality and value distributions of diamonds from Smoke Creek for international marketing and funding proposals and commercialisation strategies.
Smoke Creek hosts a JORC Inferred Diamond Resource of 21.5 million tonnes at 28 carats per hundred tonnes (CPHT), for 6 million carats based on a 10 CPHT cut off grade.
The diamondiferous gravels at Smoke Creek are the same as those already mined by Argyle Diamonds in Upper Smoke Creek, derived from the Argyle lamproite pipe at the head of Smoke Creek.
Venus believes Smoke Creek could provide a new source of Australian diamonds, including the rare pink diamonds found almost exclusively at the Argyle mine.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.