- Venus Metals (VMC) receives sampling results from its Marvel Loch East project in Western Australia
- The soil samples contain total rare earth oxides grading up to 6092 parts per million (ppm) including 702 ppm neodymium oxide
- VMC says the TREO value is “exceptional and highly significant” given the anomalies are in an area with potential for clay-hosted REE mineralisation
- The company is planning a field mapping program to investigate which will be followed by shallow aircore drilling to test clay-hosted REE mineralisation
- VMC shares are trading flat at 15 cents near market close
Venus Metals (VMC) has announced some sampling results from its Marvel Loch East rare earth project in Western Australia.
The company collected soil and rock chip/laterite samples from one granted tenement within the Marvel Loch East project.
Analysis of the samples defined rare earth element (REE) anomalies along the 25-kilometre strike length of the aeromagnetic high in the west and across a magnetic feature that covers a three-kilometre by four-kilometre area.
Samples contained total rare earth oxides (TREOs) grading up to 6092 parts per million (ppm), including 702 ppm neodymium oxide.
“The REE analyses of up to 6092 ppm TREO in soil are exceptional and highly significant, especially when considering they are discovered in an area that has a 25-kilometre aeromagnetic high with associated REE-enriched monzogranite bedrock,” Managing Director Matthew Hogan said.
Venus Metals said it considers the REE-enriched bedrock as a possible REE source for residual enrichment within the regolith during the weathering process.
The company is now planning a field mapping program to investigate the regolith setting which will be followed by shallow aircore drilling to test clay-hosted REE mineralisation.
VMC shares were trading flat at 15 cents near market close.