Venus Metals (ASX:VMC) reports the delineation of multiple priority targets at Mangaroon North based on processed remote-sensed ASTER and Sentinel data, geology and regolith maps, ortho-images, and radiometric data.
Venus Metals notes that it is well positioned with four tenements (E08/3229, E08/3375, E09/2422, and E09/2451) located adjacent to Mangaroon-Yangibana rare earth (REE) mineralised zone.
Venus’s E09/2541 abuts Hastings Technology Metals’ (ASX:HAS) Yangibana tenement, Dreadnought Resources’ (ASX:DRE) Yin tenement and a tenement owned by Lanthanein Resources (ASX:LNR) tenement.
The other three ELs (E08/3229, E09/2422, and ELA08/3755) all abut Dreadnought’s tenure.
Venus’s Mangaroon North project tenements are considered prospective for REE. The same host lithologies as Yin and Yangibana are present within Venus’ tenements.
The Mangaroon North project tenements are considered prospective for REE also due to the geological continuity from Yin and Yangibana along the regional northwest strike; proven ironstones in the carbonatite complex have distinct signatures in ASTER and Sentinel maps; ‘high-priority’ targets have anomalies in multiple techniques.
A field program of mapping and sampling is scheduled to commence in the second week of September 2022 to evaluate the multiple targets.
“We’re extremely encouraged by the recent REE exploration success in the region”
Addressing the priority targets, Venus Managing Director commented: “We’re extremely encouraged by the recent REE exploration success in the region by Dreadnought Resources and look forward to updating the market in due course regarding the multiple targets that have been identified through advanced remote-sensed data processing methods.”
Venus Metals holds a significant and wide-ranging portfolio of Australian gold, base metals, lithium, rare earth, and vanadium exploration projects in Western Australia that has been carefully assembled over time.
The company has 343km-square of exploration ground prospective for rare earth, nickel, copper, platinum group elements, and gold in the renowned Gascoyne region of Western Australia.
The Hastings Technology Yangibana rare earth (REE) Project contains a REE resource totalling 21Mt and is located about 50 km east southeast of Venus’ Mangaroon North tenements E09/2422 and E 08/3229 and, and is 10km south of Venus’ ELA 09/2541 Yangibana North Rare Earths Project.
Venus’ Mangaroon North tenements E 09/2422 and E 08/3229 abut and First Quantum Minerals Ltd’s (TSX: FM) Mangaroon JV Project targeting magmatic Ni-Cu-Pt-Pd mineralization associated with the mafic-ultramafic Money Intrusion.
Images: Venus Metals Ltd
