Resource boost puts Venus on path to WA goldfields | Australian Markets

Venus Metals Corporation has beefed up the gold stock at its Bellchambers deposit in Western Australia’s Sandstone area to 30,800 ounces at 1.27 grams per tonne (g/t) and, for the primary time, etched an initial useful resource into the books for its close by Rangeview prospect.

At a 0.5g/t cut-off, the up to date useful resource estimate now contains 8800 ounces within the measured class, 17,900 ounces within the indicated class and 4500 ounces in inferred sources. The addition of maiden ounces within the prized measured class marks a key milestone for Venus, setting up the project as a real development alternative.

While pulling collectively the new useful resource numbers, Venus’s geos additionally sketched out a pit design assuming an Australian gold price of $4500 per ounce.

Using a related 0.5g/t cut-off, the optimised pit useful resource got here in at 19,130 ounces. Notably, the measured class was nearly unchanged at 8730 ounces, whereas the general grade was 7 per cent increased at 1.36g/t gold.

The juicy improve follows an April drilling blitz to infill and tighten up the useful resource model at website. The program punched out 1749 metres throughout 34 reverse circulation holes, bringing the whole exploration ledger at Bellchambers and Rangeview to 143 holes for 8876m.

Armed with a recent useful resource raise and growing confidence in future manufacturing, Venus has wasted no time locking in a mining lease over the Bellchambers and Rangeview deposits and enlisting Kalgoorlie-based consultants to fast-track its mining development and closure proposal.

Mine planning can even cowl environmental and technical research, together with wildlife surveys, floor hydrology and waste management.

Meanwhile, the company’s metallurgical check work is nicely superior, and it expects to obtain the outcomes from seven consultant samples within weeks. Early bottle-roll testing has already proven recoveries of up to 92 per cent in oxide materials and 90 per cent in recent sulphidic basalt.

Venus’s project sits simply 25 kilometres south of Sandstone, within a famend mining district dotted with gold operations. Sealed roads run proper previous the project’s entrance gate and well-established infrastructure is predicated close by.

Geologically, Bellchambers lies in a traditional Archaean greenstone belt, with gold present in sulphidic shale and basalt close to banded iron formations. Higher grades have a tendency to hand around in quartz and ironstone veins. Two most important mineralised shoots have been outlined on the deposit, working 100m alongside strike and dipping down to depths of up to 140m – each stay open at depth.

Rangeview, 2km north-east, sits on the identical mineralised pattern as Bellchambers. While the present useful resource covers solely 125m of strike to about 50m depth at Rangeview, the geological setting suggests there’s room for it to grow, particularly alongside strike and at depth.

With a shiny new measured useful resource, a mining lease locked in, consultants engaged and metallurgy shaping up properly, Venus is lining up its geese for a development push.

If the pending check work and ongoing research verify its early promise, Bellchambers may quickly transfer from an exploration story to a manufacturing actuality – a transformation the punters have a tendency to discover.

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