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Venus Metals identifies new target areas at Henderson Gold-Nickel Project in WA

The company has four exploration licences at the Henderson Gold-Nickel Project covering 597 square kilometres.

Venus Metals Corporation Ltd - Venus Metals Corporation identifies targets areas at Henderson Gold-Nickel Project in WA
Venus looks forward to updating shareholders as further details are reported in coming months

Venus Metals Corporation Ltd (ASX:VMC) has identified new target areas at the Henderson Gold-Nickel Project in the Eastern Goldfields region of WA based on the review of historical exploration as well as geological and geophysical interpretations of the area.

The Henderson project is in the southern section of the Ularring Greenstone Belt and straddles the boundary between the Youanmi and Kalgoorlie terranes in the central section of the Yilgarn Craton.

Two regional fault zones, the Ida fault and the Ballard fault, intersect the project area and are considered to have played important roles in the formation of the structurally controlled gold deposits.

Gold targets

The work has identified five gold targets:

  • Snake Hill: a high-priority target adjacent to the Ida Fault and defined by abundant historical workings and historical sampling including up to 5.1 g/t gold rock chip samples;
  • Henderson Bore: north-trending zone with patchy soil samples along the eastern edge of the greenstone belt where the continuation of the zone undercover has never been tested;
  • Snake Hill East: an interpreted antiformal hinge zone presenting a structurally favourable site for gold mineralisation. Has had little historical exploration;
  • Hill Top East: NNW trending zone of anomalous soil geochemistry possibly outlining a mineralised fault. An area of poor outcrop but with historical workings; and
  • Emerald South 1 and Emerald South 2: two historical soil geochemical anomalies that have not been properly explained.

Nickel target

Another target identified was:

  • Blue Well: covers a Proterozoic dyke where it intrudes the greenstone sequence and adjacent granites. Has the potential for Mt Alexander style of Jimberlana dyke style nickel mineralisation.

Venus Metals has four exploration licence applications - E30/519, E30/521, E29/1096 and E30/520 - at Henderson project covering 597 square kilometres.

The first three of these are 100%-owned by Venus and the fourth is 90%-owned.

Quick facts: Venus Metals Corporation Ltd

Price: 0.27 AUD

Market: ASX
Market Cap: $40.79 m

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