Venus locks in $52,500 grant for Murchison copper | Australian Markets

Venus Metals subsidiary Redscope Enterprises has locked in a $52,500 WA Government Exploration Incentive Scheme (EIS) co-funded grant in direction of drilling prices to check its Pincher copper-zinc project, which is an element of the company’s Youanmi base metals project in Western Australia’s Murchison area.

The grant for the utmost quantity utilized for of $52,500 will cowl 50 per cent of the co-funded diamond drilling prices and up to $5000 in drill rig mobilisation prices.

Venus plans to plunge the drill bit into a earlier reverse circulation gap drilled to a depth of 150 metres as a pre-collar. A follow-up diamond tail will check a conductor of 5000 siemens at 400m depth. Drilling prices are diminished as a result of the pre-collar gap examined the primary 150m of a a lot deeper gap.

The company’s diamond drilling program is anticipated to start in June.

Venus will take the chance to acquire core samples for metallurgical testwork deliberate on its zinc mineralisation recognized within two holes and can full downhole electromagnetic surveying.

The EIS initiative was launched in 2009 to encourage exploration in WA and to set off non-public sector useful resource exploration for new mineral and vitality discoveries.

Venus carried out ground gravity surveys on its ground throughout the possible northern extension of its Pincher North Dome base metallic discover, which is taken into account to be a volcanogenic huge sulphide (VMS) system. The company encountered a number of gravity anomalies in the system, which incorporates copper, zinc and lead mineralisation.

Subsequent transferring loop electromagnetic survey traces had been flown throughout the gravity anomalies utilizing a Jessy Deeps SQUID sensor at low base frequency to realize a most investigative depth.

The SQUID sensor is an ultra-sensitive receiver for ground transient electromagnetic measurements with supposed unrivalled sensitivity. It can document knowledge up to 10 instances longer or thrice deeper than standard coil receivers.

Management says a broad late-time response was evident on one line and modelled at 400m depth as a flat-lying, high-conductance plate at 5000 siemens, a unit of conductive measurement to find out how nicely a materials permits electrical energy to move by way of it.

It believes the modelled plate is important and is champing on the bit to check it in the upcoming co-funded drill program.

Previous strong outcomes at Pincher embrace gold hits on the Linda Gossan prospect, the place the company has a 50 per cent curiosity by way of a three way partnership in the regional gold rights, intersecting 9m at 15.6 grams per tonne (g/t) gold from floor, together with a 3m hit of 35.2g/t from 1m.

Venus is in the enviable place of holding 55 million shares in gold explorer Rox Resources. Those shares are at the moment valued at close to $17M.

Venus final week revealed a high-tech collaboration with main science analysis organisation CSIRO to ramp up the hunt for more gold in WA’s richly endowed Sandstone area.

The company has inked a deal by way of the CSIRO’s Kick-Start program, securing a $47,426 voucher to fund a six-month analysis project to home in on gold and copper alteration zones on the Bellchambers deposit, within its Sandstone gold deposit.

Venus plans to make use of a mixture of hyperspectral satellite tv for pc imagery, downhole scanning and handheld spectrometers to carefully map the deposit’s mineral system with extremely detailed 3D accuracy.

Sitting 23 kilometres southwest of the historic Sandstone gold-rush township and 70km from Rox Resources’ Youanmi gold mine, Bellchambers has a modest however promising gold useful resource of 722,000 tonnes grading 1.31g/t gold for 30,500 ounces.

The company is conducting a 2000m reverse circulation drilling marketing campaign that can plunge 26 holes into the possible ground to check for gold outdoors the recognized useful resource and across the Bellchambers deposit.

All the reverse circulation chips and core samples will feed instantly into the CSIRO’s project to refine its superior minerals mapping.

The CSIRO collaboration contains next-generation hyperspectral satellite tv for pc sensors that may scan the Earth’s floor in unprecedented element, creating mineral maps that dovetail with subsurface knowledge from Venus’ drilling program.

By integrating HyLogger-3TM downhole imagery and floor spectrometry, the project goals to generate a holistic view of the mineralising system, doubtlessly kicking-up new gold-copper zones throughout the 125 sq. kilometre tenement.

Wisely, Venus has focused the obtainable authorities funding to help it pursue a coveted potential, new copper-zinc deposit in WA.

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