Venus to unleash cutting-edge WA gold targeting | Australian Markets

Venus Metals has homed in its exploration focus at its Bellchambers gold project in Western Australia, saying a high-tech collaboration with scientific analysis leaders the CSIRO, to crank up the hunt for more gold within the 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 zero in on gold and copper alteration zones at Bellchambers.

Venus says by harnessing a mixture of hyperspectral satellite tv for pc imagery, downhole scanning and handheld spectrometers, the company might be ready to rigorously map the mineral system with extremely detailed 3D accuracy.

Sitting 23 kilometres southwest of the historic Sandstone gold-rush township and simply 70km from Rox Resources’ Youanmi gold mine, Bellchambers already boasts a modest however promising gold useful resource of 722,000 tonnes grading 1.31 grams per tonne (g/t) for 30,500 ounces. That consists of 22,100 ounces within the indicated class which Venus is at the moment probing to increase alongside strike and at depth.

The company is at the moment conducting a 2000m reverse circulation (RC) drilling marketing campaign, punching out 26 holes to take a look at for gold exterior the recognized useful resource and across the Bellchambers deposit.

Diamond drilling is set to observe the 2000m program, with all RC chips and core samples feeding immediately into the CSIRO’s project to refine its superior minerals mapping.

Venus says it should additionally look to concurrently refine the metallurgical profile of its deposits from sampling to take a look at the gold’s free milling nature, hoping it may be rapidly monetised following the grant of a mining lease.

We are delighted to be collaborating with the CSIRO and their knowledgeable workforce for the development of the Sandstone Gold Project and take into account this to be a great alternative to determine new probably mineralised areas by way of the superior alteration mineral mapping utilizing hyperspectral image evaluation and bodes effectively with our present drilling programmes underway at Bellchambers.

The CSIRO collaboration leans on next-gen 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.

By integrating HyLogger-3TM downhole imagery and floor spectrometry, the project goals to generate a holistic view of the mineralising system, probably lighting up new gold-copper zones throughout the 125km² tenement.

Venus has lodged a mining lease software over 415 hectares of its ground, protecting the Bellchambers deposit and its potential surrounds. Historical manufacturing on the project delivered a tidy 3688 ounces from simply 5620 tonnes at a whopping 21 g/t, hinting on the high-grade potential nonetheless lurking beneath.

The company’s exploration push is backed by a rock-solid $21.5 million in money and liquid investments thanks largely to its 55 million shares in Rox Resources, value round $19.8M..

Rox has its ears pinned back on the Youanmi project charging towards gold manufacturing having launched a $40 million capital raise at present. Venus’ 1 per cent royalty over the mine may ultimately ship a regular money stream, whereas ongoing talks for a mine gate sale settlement may fast-track Bellchambers ore to Rox’s processing plant.

Venus is hoping it may possibly tie in its Range View prospect, that’s simply a stone’s throw from Bellchambers, which has already dished up some attractive hits, together with a 11m grading 4.69g/t from simply 12m.

The CSIRO project is anticipated to wrap up by year-end, with drilling assays and mineral maps set to drop within the following months. As the outcomes roll in, Venus might be on the cusp of reworking Bellchambers into a cornerstone asset as gold costs stay above $5000 an ounce. The company seems to be driving a golden tailwind and with a warfare chest valued north of $20M, Venus’ present market cap of $21.7M is definitely eye-catching.

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