Join our daily newsletter At The Bell to receive exclusive market insights
- Metals explorer Venus Metals (VMC) has identified several prospective target areas within its Henderson gold and nickel project
- It comes after a review of historical data and a target generation program at the Eastern Goldfields region in Western Australia
- The company has identified five gold targets and a nickel target, with the historical exploration data and geophysical interpretations revealing the Snake Hill target as their main priority
- Venus has submitted four exploration licence applications and will update their shareholders when further detailed exploration commences at Henderson in the coming months
- The companies share price is 2.2 per cent in the red at market close, with shares trading for 17.5 cents each
Metals explorer Venus Metals (VMC) has identified several prospective target areas within its Henderson gold and nickel project.
VMC conducted a review of historical data and identified five gold targets as well as a nickel target located 50 kilometres northwest of Menzies in the eastern Goldfields region.
Snake Hill is the highest priority of the five gold targets, after historical rock chip samples revealed 5.1 grams of gold per tonne and an initial 500ppbAu soil lag anomaly.
The data pinpointed four other targets; Henderson Bore, Snake Hill East, Hill Top East and Emerald South 1 and 2.
VMC said there could be the potential for a Mt Alexander-style or Jimberlana Dyke-style nickel mineralization, in an area that covers a Proterozoic dyke in a sequence of the Ularring Greenstone Belt and adjacent granites.
Venus Metals has submitted four exploration licence applications at the Henderson gold and nickel project covering 597 square kilometres, and the company will update shareholders as further detailed exploration commences following the grant of the tenement areas in the coming months.
The companies share price is 2.2 per cent in the red at at market close, with shares trading for 17.5 cents each.
