Venus Metals Corporation

Amendment To Sandstone Gold Project: Updated Resource Bellchambers Deposit

Venus Metals Corporation Limited (“Venus” or the “Company”) is pleased to announce the results of recent reverse circulation (RC) drilling at the Bellchambers Gold Deposit (90% VMC), located in the Western Australian Goldfields approximately 70 km northeast from the Youanmi Gold Project.


HIGHLIGHTS:

  • New JORC2012 gold resource estimate is 722,000 tonnes @ 1.31 g/t Au for 30,500 ounces, with 22,100 ounces classified in the indicated mineral resource category.
  • Increase of 35% in tonnes and 40% in ounces at 0.5 g/t Au cut-off (compared to the previous resource reported in 2020).

Bellchambers JORC 2012 Resource Summary

  • Mineralised zone traced to a vertical depth of 175m below surface; the deposit remains open at depth.
  • Gold intersections from the recent drilling programme include:
    • BCRC141; 34m @ 1.25 g/t Au from 160m incl 11m @2.93 g/t Au;
      1m @ 9.47 g/t Au from 178m
    • BCRC142; 25m @ 1.19 g/t Au from 86m incl 4m @ 2.06 g/t Au,
    • BCRC143; 17m @ 1.16 g/t Au from 155m incl 4m @ 2.12 g/t Au,
  • Exploration at Bellchambers is ongoing and studies will be instigated, Venus has agreed with Rox Resources Ltd to negotiate a mine gate sale agreement for the Bellchambers deposit on a best endeavours basis (subject to certain conditions, see ASX release 31 March 2023).

The recent drilling programme (refer ASX release 21 February 2023) specifically targeted the depth continuation of the up to 30m wide and steeply plunging core of the southern mineralised domain outlined in the Bellchambers 2020 resource model (refer ASX release 25 September 2020). It also included a single hole drilled at the Range View gold prospect (Table 4). All three Bellchambers drill holes intersected significant zones of gold mineralisation (Table 5) that spatially are in good agreement with the projected down-plunge continuation of the 2020 resource model, extending the vertical depth of known mineralisation from about 100m to 175m from surface. These very encouraging results allowed for a significant increase in calculated mineral resource for the Bellchambers gold deposit.


Click here for the full ASX Release

This article includes content from Venus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

VMC:AU
The Conversation (0)
Two people in suits shaking hands, symbolizing agreement or partnership.

Livium and Mineral Resources Form Joint Venture to Advance LieNA Technology

Livium (ASX:LIT) and Mineral Resources (ASX:MIN,OTC Pink:MALRF) said on Monday (August 11) that they have agreed to a 50/50 joint venture regarding the LieNA lithium-processing technology.

LieNA, the joint venture entity, was formerly a subsidiary of Livium, the owner of the intellectual property for the LieNA technology — an innovative process designed to recover lithium from spodumene.

The joint venture's formation comes after the completion of Stage 1A activities under a joint development deal. The companies first began working together in August 2023, and agreed to additional Stage 1A work in January.

Keep reading...Show less
Rusty metal gate secured with a chain and padlock.

Lithium Prices Surge After CATL Halts Major Mine in China

Lithium prices and mining stocks around the world soared this week after Chinese battery giant Contemporary Amperex Technology (CATL) (SZSE:300750,HKEX:3750) suspended operations at one of the world’s largest lithium mines.

The halt at the Jianxiawo lepidolite mine in Jiangxi province’s Yichun city, a hub for China’s lithium production, came after the mine’s permit expired on August 9.

Keep reading...Show less
Wooden blocks spell "lithium" with mini figures mining and scaling.

New Study Highlights Western Australia's Lithium Leadership and Future Potential

Western Australia has a strong lithium history, and a recent study could help inform future exploration.

Put together by researchers from the Geological Survey of Western Australia (GSWA), Curtin University and the University of Western Australia, the report focuses on the formation of high-grade lithium deposits.

It states that Western Australia supplies around 35 percent of the world's lithium, with much of that coming from pegmatite, a coarse-grained rock commonly found in the state's Archean terrains.

Keep reading...Show less
Assorted battery tops in various sizes and colors, arranged closely together.

AI Uncovers Five Potential Lithium Alternatives for Next-generation Batteries

Generative artificial intelligence (AI) has helped a group of scientists identify five new materials that could power the next wave of batteries without relying on lithium.

The study, published on June 26 in Cell Reports Physical Science, focuses on materials that could enable multivalent-ion batteries — a technology long touted for its potential, but hindered by practical challenges.

Keep reading...Show less
Text saying "lithium" overlaid on stock chart with a globe in the background.

Top 9 Global Lithium Stocks of 2025

Lithium prices continued their downward trajectory in 2025's second quarter, with battery-grade lithium carbonate hitting a four year low of US$8,329 per metric ton in late June.

Lithium hydroxide followed suit as oversupply and bearish sentiment weighed on the market.

Despite strong electric vehicle (EV) demand, mine supply — driven largely by China, Australia, Argentina and emerging African producers — has outpaced consumption, with Fastmarkets forecasting a 260,000 metric ton surplus for 2025.

Keep reading...Show less

Latest Press Releases

Related News

×