Venus Metals Corporation Ltd (ASX:VMC) has lodged applications for two new exploration licences E30/5219 and E30/520 comprising 30 and 70 new blocks respectively in the Eastern Goldfields region of Western Australia.
The area, now called Henderson Gold-Nickel Project, is 50 kilometres northwest of Menzies within the Mt Ida greenstone belt.
Two major shear zones, the Ballard Fault and the Ida Fault, intersect the project area.
Henderson hosts several substantial historical gold mining centres including Riverina, First Hit, Mulline, Mt Morley, Emerald, Bottle Creek, Mt Ida and Davyhurst.
Venus is evaluating a large historical database to identify potential gold and nickel targets as the area hosts numerous ultramafic bodies prospective for nickel sulphide mineralisation.
A preliminary assessment of WAMEX reports suggests most historical exploration activities comprised geochemical and geophysical surveys with only limited and shallow drilling.
Opportunities exist for targeting gold and nickel mineralisation in areas of cover and for exploring several structural and geochemical targets identified from historical data that have not been followed up and drill tested.
High priority targets at Penny West
The company and JV partner Rox Resources Limited (ASX:RXL) recently highlighted five high-priority anomalies along the Youanmi Shear Zone following an Xcite electromagnetic survey (HEM) at Penny West Deep South Project in Western Australia.
Analysis of the final survey data by independent geophysical consultants Core Geophysics highlighted 23 anomalies, including nine priority anomalies.
Five-high-priority anomalies (PWDS 1, 2, 3, 5 and 13) are considered most significant as they lie south and along strike from the high-grade Penny West gold deposit and are adjacent to the interpreted Youanmi Shear Zone.
Modelling has indicated the sources are near-surface (from 50–80 metres vertical depth) but below the reach of the recent aircore (AC) drilling program and have moderate to high conductance with moderate strike and depth extents.