Venus Metals Corporation (ASX:VMC) has reported on recent exploration findings at its Youanmi Lithium project in Western Australia.
The report highlighted intersections of high-grade lithium pegmatite at both the East Zone and North Zone.
Notable discoveries included concentrations of lithium, with outcropping pegmatites showing levels as high as 4.6% Lithium Oxide (Li2O). Shareholders have responded positively to these findings so far.
“These high-grade results from our maiden drilling campaign at Deep South Lithium Prospect pave the way for future exploration at this exciting prospect,” Venus Managing Director Matthew Hogan said.
Along with intersections of 24m @1.71% Li20 including 14m @2.54% Li20, we’ve been pleasantly surprised by the tantalum enrichment within the pegmatites.
“With much of the observed mineralisation open along strike, we look forward to pursuing follow up drilling to define the scale of the opportunity at Deep South.”
The Phase 1 drilling results validated the potential for lithium mineralisation at the Deep South Prospect.
A comprehensive follow-up exploration program is planned, including RC and diamond drilling, as well as regional Auger drilling and infill soil sampling to further investigate.
VMC shares were up 11%, last traded at 9.9c, at 10:30am AEDT.